BRP Group, Inc. (NASDAQ:BRP) Receives $30.67 Average Price Target from Analysts

Shares of BRP Group, Inc. (NASDAQ:BRP) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $30.67.

A number of analysts have weighed in on the stock. Bank of America decreased their target price on shares of BRP Group from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Raymond James upgraded shares of BRP Group from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, December 12th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of BRP Group from $30.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, February 29th.

BRP Group Stock Performance

NASDAQ BRP opened at $28.94 on Monday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -19.42, a PEG ratio of 0.82 and a beta of 1.54. 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 has a twelve month low of $17.33 and a twelve month high of $30.84. The stock has a fifty day simple moving average of $26.90 and a 200 day simple moving average of $23.88.

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

Insiders Place Their Bets

In related news, General Counsel Seth Bala Cohen sold 1,033 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $29.04, for a total transaction of $29,998.32. Following the transaction, the general counsel now directly owns 10,657 shares of the company’s stock, valued at $309,479.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Seth Bala Cohen sold 1,033 shares of the company’s 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 transaction, the general counsel now directly owns 10,657 shares of the company’s stock, valued at approximately $309,479.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lowry Baldwin sold 62,629 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $28.94, for a total value of $1,812,483.26. Following the completion of the sale, the director now directly 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 Inflows and Outflows

Several institutional investors have recently bought and sold shares of BRP. Tributary Capital Management LLC increased its stake in BRP Group by 11.7% in the 4th quarter. Tributary Capital Management LLC now owns 469,305 shares of the company’s stock valued at $11,273,000 after buying an additional 48,980 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of BRP Group by 209.4% during the third quarter. Envestnet Asset Management Inc. now owns 206,391 shares of the company’s stock worth $4,794,000 after acquiring an additional 139,684 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of BRP Group by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 484,059 shares of the company’s stock worth $11,245,000 after acquiring an additional 19,272 shares during the period. Invesco Ltd. grew its position in shares of BRP Group by 2.6% in the third quarter. Invesco Ltd. now owns 2,112,762 shares of the company’s stock valued at $49,079,000 after purchasing an additional 53,895 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of BRP Group during the 3rd quarter valued at $862,000. Institutional investors and hedge funds 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.