Keefe, Bruyette & Woods Raises BRP Group (NASDAQ:BRP) Price Target to $34.00

BRP Group (NASDAQ:BRP) had its price target boosted by Keefe, Bruyette & Woods from $33.00 to $34.00 in a report released on Wednesday, Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Raymond James raised shares of BRP Group from an outperform rating to a strong-buy rating and set a $30.00 target price for the company in a research report on Tuesday, December 12th. Bank of America lowered their price objective on BRP Group from $44.00 to $42.00 and set a buy rating for the company in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. raised shares of BRP Group from a neutral rating to an overweight rating and upped their target price for the stock from $27.00 to $33.00 in a research report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $33.40.

BRP Group Stock Down 0.1 %

BRP opened at $27.63 on Wednesday. The business’s fifty day simple moving average is $27.67 and its 200 day simple moving average is $24.05. BRP Group has a 52 week low of $17.33 and a 52 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. The stock has a market cap of $3.22 billion, a PE ratio of -18.54, a P/E/G ratio of 0.81 and a beta of 1.54.

BRP Group (NASDAQ:BRP) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $284.65 million during the quarter, compared to analysts’ expectations of $282.00 million. BRP Group had a negative net margin of 7.40% and a positive return on equity of 7.61%. As a group, research analysts expect that BRP Group will post 1.07 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On BRP Group

A number of large investors have recently bought and sold shares of BRP. Amalgamated Bank raised its holdings in BRP Group by 4.8% in the 4th quarter. Amalgamated Bank now owns 10,111 shares of the company’s stock worth $254,000 after purchasing an additional 464 shares during the period. US Bancorp DE grew its stake in BRP Group by 10.2% during the 4th quarter. US Bancorp DE now owns 5,777 shares of the company’s stock valued at $139,000 after acquiring an additional 534 shares in the last quarter. Arizona State Retirement System lifted its stake in BRP Group by 4.1% in the 3rd quarter. Arizona State Retirement System now owns 18,148 shares of the company’s stock worth $422,000 after purchasing an additional 720 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of BRP Group by 1.2% during the 4th quarter. Legal & General Group Plc now owns 63,713 shares of the company’s stock worth $1,530,000 after purchasing an additional 774 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in shares of BRP Group by 1.2% in the third quarter. California State Teachers Retirement System now owns 74,393 shares of the company’s stock valued at $1,960,000 after purchasing an additional 892 shares in the last quarter. 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.