Cornercap Investment Counsel Inc. Purchases 13,168 Shares of BRP Group, Inc. (NASDAQ:BRP)

Cornercap Investment Counsel Inc. raised its position in shares of BRP Group, Inc. (NASDAQ:BRP) by 32.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 53,133 shares of the company’s stock after buying an additional 13,168 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in BRP Group were worth $1,276,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tributary Capital Management LLC boosted its position in shares of BRP Group by 11.7% during the 4th quarter. Tributary Capital Management LLC now owns 469,305 shares of the company’s stock worth $11,273,000 after purchasing an additional 48,980 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of BRP Group by 209.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 206,391 shares of the company’s stock worth $4,794,000 after purchasing an additional 139,684 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of BRP Group by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 484,059 shares of the company’s stock worth $11,245,000 after purchasing an additional 19,272 shares in the last quarter. Invesco Ltd. boosted its position in shares of BRP Group by 2.6% during the 3rd quarter. Invesco Ltd. now owns 2,112,762 shares of the company’s stock worth $49,079,000 after purchasing an additional 53,895 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in BRP Group in the 3rd quarter valued at about $862,000. Institutional investors own 70.42% of the company’s stock.

Analysts Set New Price Targets

BRP has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price target on shares of BRP Group from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. raised shares of BRP Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $27.00 to $33.00 in a research report on Monday, April 8th. Bank of America dropped their price target on shares of BRP Group from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, Wells Fargo & Company dropped their price target on shares of BRP Group from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $33.40.

Insider Activity at BRP Group

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

BRP Group Price Performance

Shares of BRP stock traded up $0.12 during trading hours on Monday, hitting $27.75. 52,260 shares of the company were exchanged, compared to its average volume of 385,951. BRP Group, Inc. has a 52-week low of $17.33 and a 52-week high of $30.84. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.29. The firm has a fifty day simple moving average of $27.67 and a 200 day simple moving average of $24.06.

BRP Group (NASDAQ:BRP) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. BRP Group had a negative net margin of 7.40% and a positive return on equity of 7.61%. The business had revenue of $284.65 million during the quarter, compared to analyst estimates of $282.00 million. On average, research analysts expect that BRP Group, Inc. will post 1.05 earnings per share for the current year.

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.