BRP Group (NYSE:BRP) Price Target Lowered to $40.00 at Morgan Stanley

BRP Group (NYSE:BRP) had its price objective cut by Morgan Stanley from $43.00 to $40.00 in a research note released on Friday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of BRP Group from $45.00 to $44.00 and set an overweight rating on the stock in a report on Tuesday, January 4th. Jefferies Financial Group initiated coverage on shares of BRP Group in a report on Thursday, November 18th. They set a hold rating and a $39.00 price objective on the stock. Finally, Raymond James upped their price objective on shares of BRP Group from $38.00 to $43.00 and gave the company an outperform rating in a report on Thursday, November 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, BRP Group presently has a consensus rating of Hold and a consensus price target of $37.50.

Shares of BRP stock opened at $31.05 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.48 billion, a PE ratio of 155.25 and a beta of 1.53. The firm has a fifty day simple moving average of $36.17 and a two-hundred day simple moving average of $34.00. BRP Group has a 12 month low of $22.79 and a 12 month high of $45.36.

BRP Group (NYSE:BRP) last posted its quarterly earnings data on Sunday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.11. The firm had revenue of $135.56 million for the quarter, compared to the consensus estimate of $129.51 million. BRP Group had a negative net margin of 6.75% and a positive return on equity of 6.96%. On average, equities analysts predict that BRP Group will post 0.38 earnings per share for the current fiscal year.

In related news, Chairman Lowry Baldwin sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, December 6th. The shares were sold at an average price of $36.35, for a total value of $5,452,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 35.93% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Bbva USA lifted its stake in BRP Group by 912.5% in the third quarter. Bbva USA now owns 1,134 shares of the company’s stock worth $38,000 after acquiring an additional 1,022 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in BRP Group in the 4th quarter worth about $63,000. UBS Group AG increased its holdings in BRP Group by 36.8% in the 3rd quarter. UBS Group AG now owns 3,012 shares of the company’s stock worth $101,000 after buying an additional 811 shares in the last quarter. Royal Bank of Canada increased its holdings in BRP Group by 62.3% in the 3rd quarter. Royal Bank of Canada now owns 5,224 shares of the company’s stock worth $174,000 after buying an additional 2,005 shares in the last quarter. Finally, Point72 Hong Kong Ltd increased its holdings in BRP Group by 45.0% in the 3rd quarter. Point72 Hong Kong Ltd now owns 5,593 shares of the company’s stock worth $186,000 after buying an additional 1,736 shares in the last quarter. 84.84% of the stock is owned by hedge funds and other institutional investors.

BRP Group Company Profile

BRP Group, Inc markets and sells insurance products and services in the United States. The company operates through four segments: Middle Market, Specialty, MainStreet, and Medicare. The Middle Market segment provides private risk management, commercial risk management, and employee benefits solutions for mid-to-large size businesses, and high net worth individuals and families.

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Analyst Recommendations for BRP Group (NYSE:BRP)

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