New York State Common Retirement Fund Decreases Stock Holdings in BRP Group, Inc. (NYSE:BRP)

New York State Common Retirement Fund trimmed its holdings in BRP Group, Inc. (NYSE:BRP) by 15.2% during the third quarter, HoldingsChannel reports. The firm owned 33,293 shares of the company’s stock after selling 5,952 shares during the period. New York State Common Retirement Fund’s holdings in BRP Group were worth $1,108,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in BRP Group by 21.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,738,782 shares of the company’s stock worth $99,639,000 after purchasing an additional 669,997 shares in the last quarter. BlackRock Inc. lifted its stake in BRP Group by 0.3% in the 2nd quarter. BlackRock Inc. now owns 3,011,449 shares of the company’s stock worth $80,256,000 after purchasing an additional 8,976 shares in the last quarter. Vanguard Group Inc. raised its position in shares of BRP Group by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,261,321 shares of the company’s stock valued at $60,265,000 after buying an additional 16,393 shares during the period. Champlain Investment Partners LLC raised its position in shares of BRP Group by 93.0% during the 2nd quarter. Champlain Investment Partners LLC now owns 1,969,905 shares of the company’s stock valued at $52,498,000 after buying an additional 949,445 shares during the period. Finally, Westfield Capital Management Co. LP raised its position in shares of BRP Group by 15.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,005,283 shares of the company’s stock valued at $26,791,000 after buying an additional 136,847 shares during the period. 84.84% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on BRP. Raymond James lifted their price target on shares of BRP Group from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, November 11th. Morgan Stanley reduced their price target on shares of BRP Group from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday. Jefferies Financial Group began coverage on shares of BRP Group in a research report on Thursday, November 18th. They set a “hold” rating and a $39.00 price target on the stock. Finally, Wells Fargo & Company reduced their price target on shares of BRP Group from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.50.

BRP Group stock opened at $31.05 on Friday. BRP Group, Inc. has a fifty-two week low of $22.79 and a fifty-two week high of $45.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a 50 day moving average price of $36.17 and a 200 day moving average price of $34.00. The company has a market capitalization of $3.48 billion, a PE ratio of 155.25 and a beta of 1.53.

BRP Group (NYSE:BRP) last posted its earnings results on Sunday, November 7th. The company reported $0.11 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.11. BRP Group had a negative net margin of 6.75% and a positive return on equity of 6.96%. The firm had revenue of $135.56 million during the quarter, compared to the consensus estimate of $129.51 million. As a group, equities research analysts forecast that BRP Group, Inc. will post 0.38 earnings per share for the current year.

In other BRP Group news, Chairman Lowry Baldwin sold 150,000 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 35.93% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for BRP Group (NYSE:BRP)

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