Russell Investments Group Ltd. reduced its stake in BRP Group, Inc. (NYSE:BRP – Get Rating) by 16.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,090 shares of the company's stock after selling 27,654 shares during the period. Russell Investments Group Ltd. owned approximately 0.12% of BRP Group worth $3,730,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. HHM Wealth Advisors LLC bought a new position in shares of BRP Group in the first quarter worth $57,000. FDx Advisors Inc. bought a new position in shares of BRP Group in the fourth quarter worth $205,000. Hayden Royal LLC bought a new position in shares of BRP Group in the fourth quarter worth $209,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of BRP Group by 45.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,317 shares of the company's stock worth $264,000 after acquiring an additional 2,291 shares during the period. Finally, Virginia Retirement Systems ET AL bought a new position in shares of BRP Group in the fourth quarter worth $292,000. 84.84% of the stock is owned by institutional investors.
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Insider Transactions at BRP Group
In related news, CEO Trevor Baldwin acquired 12,000 shares of the firm's stock in a transaction dated Monday, May 16th. The shares were purchased at an average price of $22.86 per share, for a total transaction of $274,320.00. Following the completion of the acquisition, the chief executive officer now owns 100,297 shares in the company, valued at $2,292,789.42. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 35.93% of the company's stock.
Analyst Ratings Changes
Several research firms recently issued reports on BRP. Desjardins dropped their price objective on BRP Group from C$154.00 to C$152.00 in a research note on Tuesday, June 7th. UBS Group began coverage on BRP Group in a research note on Monday, April 18th. They set a "buy" rating and a $30.00 price objective for the company. Jefferies Financial Group dropped their price objective on BRP Group from $27.00 to $26.00 and set a "hold" rating for the company in a research note on Tuesday, July 12th. Finally, Raymond James lifted their price objective on BRP Group from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, BRP Group currently has an average rating of "Moderate Buy" and an average target price of $46.63.
BRP Group Trading Up 4.3 %
Shares of BRP stock opened at $31.68 on Friday. 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 business has a 50-day moving average price of $25.75 and a two-hundred day moving average price of $25.89. BRP Group, Inc. has a 12-month low of $17.08 and a 12-month high of $45.36. The firm has a market cap of $3.65 billion, a P/E ratio of 158.40 and a beta of 1.53.
BRP Group (NYSE:BRP – Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. BRP Group had a positive return on equity of 6.96% and a negative net margin of 6.75%. Equities analysts anticipate that BRP Group, Inc. will post 0.38 EPS for the current fiscal year.
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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