BRP Group (NASDAQ:BRP) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of BRP Group (NASDAQ:BRP) from a neutral rating to an overweight rating in a report released on Monday, MarketBeat.com reports. They currently have $33.00 target price on the stock, up from their prior target price of $27.00.

Other equities analysts have also issued reports about the company. Bank of America decreased their price objective on BRP Group from $44.00 to $42.00 and set a buy rating for the company in a report on Thursday, February 29th. Keefe, Bruyette & Woods upped their target price on BRP Group from $30.00 to $33.00 and gave the stock an outperform rating in a research report on Thursday, February 29th. Finally, Raymond James raised BRP Group from an outperform rating to a strong-buy rating and set a $30.00 price target for the company in a research note on Tuesday, December 12th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $32.60.

BRP Group Stock Down 1.6 %

Shares of BRP Group stock opened at $28.19 on Monday. The firm has a market cap of $3.29 billion, a P/E ratio of -18.92, a P/E/G ratio of 0.83 and a beta of 1.54. The business has a 50-day moving average price of $27.46 and a 200 day moving average price of $24.01. BRP Group has a fifty-two week low of $17.33 and a fifty-two week high of $30.84. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.29.

BRP Group (NASDAQ:BRP) last posted its earnings results on Wednesday, February 28th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $284.65 million during the quarter, compared to analyst estimates of $282.00 million. BRP Group had a positive return on equity of 7.61% and a negative net margin of 7.40%. On average, sell-side analysts forecast that BRP Group will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling at BRP Group

In other BRP Group news, Director Lowry Baldwin sold 62,629 shares of BRP Group stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $28.94, for a total transaction of $1,812,483.26. Following the sale, the director now directly owns 37,371 shares of the company’s stock, valued at $1,081,516.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Seth Bala Cohen sold 1,033 shares of BRP Group stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $29.04, for a total value of $29,998.32. Following the completion of the transaction, the general counsel now owns 10,657 shares in the company, valued at $309,479.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lowry Baldwin sold 62,629 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $28.94, for a total transaction of $1,812,483.26. Following the completion of the transaction, the director now owns 37,371 shares of the company’s stock, valued at approximately $1,081,516.74. The disclosure for this sale can be found here. Company insiders own 22.65% of the company’s stock.

Institutional Trading of BRP Group

Institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Management LLC boosted its stake in BRP Group by 53.1% in the 1st quarter. MetLife Investment Management LLC now owns 24,608 shares of the company’s stock worth $660,000 after purchasing an additional 8,536 shares during the period. Rhumbline Advisers boosted its stake in BRP Group by 8.9% in the 1st quarter. Rhumbline Advisers now owns 47,270 shares of the company’s stock worth $1,268,000 after purchasing an additional 3,847 shares during the period. Sei Investments Co. boosted its stake in BRP Group by 31.0% in the 1st quarter. Sei Investments Co. now owns 267,327 shares of the company’s stock worth $7,173,000 after purchasing an additional 63,285 shares during the period. Ergoteles LLC acquired a new position in BRP Group in the 1st quarter worth $1,882,000. Finally, Clearbridge Investments LLC boosted its stake in BRP Group by 1.0% in the 1st quarter. Clearbridge Investments LLC now owns 455,692 shares of the company’s stock worth $12,226,000 after purchasing an additional 4,435 shares during the period. Institutional investors own 70.42% of the company’s stock.

About BRP Group

BRP Group, Inc operates as an independent insurance distribution firm that delivers insurance and risk management solutions in the United States. It operates through three segments: Insurance Advisory Solutions; Underwriting, Capacity & Technology Solutions; and Mainstreet Insurance Solutions. The Insurance Advisory Solutions segment provides commercial risk management, employee benefits, and private risk management solutions for businesses and high-net-worth individuals, as well as their families.