HB Wealth Management LLC raised its stake in BRP Group, Inc. (NASDAQ:BRP – Get Rating) by 24.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,224 shares of the company's stock after buying an additional 5,000 shares during the quarter. HB Wealth Management LLC's holdings in BRP Group were worth $609,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC acquired a new position in shares of BRP Group during the 1st quarter worth $57,000. M&T Bank Corp increased its stake in shares of BRP Group by 7.6% during the 1st quarter. M&T Bank Corp now owns 8,283 shares of the company's stock worth $223,000 after purchasing an additional 588 shares during the last quarter. Red Door Wealth Management LLC acquired a new position in shares of BRP Group during the 2nd quarter worth $233,000. Raymond James & Associates increased its stake in shares of BRP Group by 4.3% during the 4th quarter. Raymond James & Associates now owns 9,904 shares of the company's stock worth $358,000 after purchasing an additional 406 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of BRP Group by 59.6% during the 4th quarter. Teacher Retirement System of Texas now owns 10,602 shares of the company's stock worth $383,000 after purchasing an additional 3,961 shares during the last quarter. Institutional investors and hedge funds own 49.20% of the company's stock.
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Analysts Set New Price Targets
BRP has been the topic of several analyst reports. Morgan Stanley increased their price target on shares of BRP Group from $26.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Friday, August 19th. Raymond James upped their price objective on shares of BRP Group from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Thursday, August 11th. Desjardins decreased their price objective on shares of BRP Group from C$154.00 to C$152.00 in a report on Tuesday, June 7th. Finally, Jefferies Financial Group decreased their price objective on shares of BRP Group from $27.00 to $26.00 and set a "hold" rating for the company in a report on Tuesday, July 12th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, BRP Group has an average rating of "Moderate Buy" and an average target price of $47.88.
Insider Buying and Selling at BRP Group
In related news, Chairman Lowry Baldwin purchased 172,000 shares of BRP Group stock in a transaction on Tuesday, September 20th. The stock was purchased at an average cost of $28.87 per share, with a total value of $4,965,640.00. Following the acquisition, the chairman now directly owns 172,000 shares in the company, valued at $4,965,640. The acquisition was disclosed in a legal filing with the SEC, which is available at
this link. Insiders own 23.36% of the company's stock.
BRP Group Price Performance
Shares of BRP Group stock opened at $26.34 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.06. BRP Group, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $45.36. The firm has a fifty day moving average of $30.14. The company has a market cap of $3.04 billion, a P/E ratio of -164.61, a PEG ratio of 1.34 and a beta of 1.53.
BRP Group (NASDAQ:BRP – Get Rating) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. BRP Group had a negative net margin of 0.52% and a positive return on equity of 6.49%. The firm had revenue of $232.46 million during the quarter, compared to the consensus estimate of $220.48 million. Analysts expect that BRP Group, Inc. will post 0.8 earnings per share for the current fiscal year.
BRP Group Company Profile
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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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