BRP Group (NASDAQ:BRP) PT Lowered to $28.00 at Wells Fargo & Company

BRP Group (NASDAQ:BRP) had its target price lowered by Wells Fargo & Company from $29.00 to $28.00 in a report released on Thursday, Benzinga reports. The firm currently has an equal weight rating on the stock.

BRP has been the topic of a number of other research reports. Keefe, Bruyette & Woods increased their price objective on BRP Group from $33.00 to $34.00 and gave the company an outperform rating in a research note on Wednesday. JPMorgan Chase & Co. raised BRP Group from a neutral rating to an overweight rating and raised their price target for the stock from $27.00 to $33.00 in a research note on Monday, April 8th. Finally, Bank of America cut their price objective on BRP Group from $44.00 to $42.00 and set a buy rating on the stock in a report on Thursday, February 29th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BRP Group currently has a consensus rating of Buy and an average target price of $33.40.

BRP Group Trading Down 0.1 %

NASDAQ:BRP opened at $27.63 on Thursday. The stock has a fifty day moving average price of $27.67 and a two-hundred day moving average price of $24.06. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of -18.54, a PEG ratio of 0.83 and a beta of 1.54. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.90 and a current ratio of 0.90. BRP Group has a 1 year low of $17.33 and a 1 year high of $30.84.

BRP Group (NASDAQ:BRP) last posted its earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $284.65 million for 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%. As a group, sell-side analysts anticipate that BRP Group will post 1.05 earnings per share for the current fiscal year.

Insider Activity at BRP Group

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

Institutional Investors Weigh In On BRP Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust purchased a new stake in BRP Group during the 4th quarter worth approximately $25,000. Resurgent Financial Advisors LLC purchased a new stake in BRP Group during the 4th quarter worth approximately $44,000. Captrust Financial Advisors increased its holdings in BRP Group by 2,262.6% during the 2nd quarter. Captrust Financial Advisors now owns 2,717 shares of the company’s stock worth $66,000 after purchasing an additional 2,602 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in BRP Group by 84.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,754 shares of the company’s stock worth $68,000 after purchasing an additional 1,258 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of BRP Group in the 3rd quarter worth approximately $64,000. 70.42% of the stock is currently owned by hedge funds and other institutional investors.

BRP Group Company Profile

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.