BRP Group (NYSE:BRP – Get Rating) announced its quarterly earnings data on Tuesday. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.21 by $0.02, Fidelity Earnings reports. BRP Group had a negative net margin of 6.75% and a positive return on equity of 6.96%.
BRP Group Trading Up 2.9 %
Shares of NYSE:BRP traded up $0.89 during trading on Thursday, reaching $31.27. The stock had a trading volume of 10,292 shares, compared to its average volume of 499,327. The business has a fifty day moving average price of $25.66 and a 200-day moving average price of $25.88. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The stock has a market cap of $3.60 billion, a P/E ratio of 151.90 and a beta of 1.53. BRP Group has a fifty-two week low of $17.08 and a fifty-two week high of $45.36.
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Analysts Set New Price Targets
Several brokerages recently commented on BRP. Jefferies Financial Group reduced their price objective on shares of BRP Group from $27.00 to $26.00 and set a "hold" rating for the company in a research note on Tuesday, July 12th. UBS Group assumed coverage on shares of BRP Group in a research report on Monday, April 18th. They set a "buy" rating and a $30.00 target price for the company. Raymond James lifted their target price on shares of BRP Group from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Desjardins cut their target price on shares of BRP Group from C$154.00 to C$152.00 in a research report on Tuesday, June 7th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $46.63.
Insider Activity
In related news, insider John A. Valentine bought 10,000 shares of the stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average cost of $21.10 per share, for a total transaction of $211,000.00. Following the completion of the acquisition, the insider now owns 66,351 shares in the company, valued at $1,400,006.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John A. Valentine bought 10,000 shares of the stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average cost of $21.10 per share, for a total transaction of $211,000.00. Following the completion of the acquisition, the insider now owns 66,351 shares in the company, valued at $1,400,006.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Trevor Baldwin bought 12,000 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was bought at an average price of $22.86 per share, with a total value of $274,320.00. Following the completion of the acquisition, the chief executive officer now owns 100,297 shares of the company's stock, valued at approximately $2,292,789.42. The disclosure for this purchase can be found here. Insiders bought a total of 27,059 shares of company stock valued at $596,033 over the last 90 days. Insiders own 35.93% of the company's stock.
Institutional Trading of BRP Group
Institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in shares of BRP Group during the first quarter worth $4,504,000. Ergoteles LLC bought a new position in BRP Group in the 1st quarter valued at about $1,882,000. Sei Investments Co. grew its position in BRP Group by 31.0% in the 1st quarter. Sei Investments Co. now owns 267,327 shares of the company's stock valued at $7,173,000 after buying an additional 63,285 shares in the last quarter. State Street Corp grew its position in BRP Group by 4.5% in the 1st quarter. State Street Corp now owns 953,517 shares of the company's stock valued at $25,583,000 after buying an additional 40,779 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in BRP Group in the 1st quarter valued at about $1,057,000. 84.84% of the stock is owned by institutional investors and hedge funds.
About BRP Group
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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 commercial risk management, employee benefits solutions, and private risk management for mid-to-large size businesses and high net worth individuals, as well as its families.
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