BRP Group (NYSE:BRP – Get Rating) had its target price lifted by equities researchers at Raymond James from $32.00 to $34.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Raymond James' price target points to a potential upside of 7.77% from the stock's current price.
BRP has been the subject of several other research reports. Jefferies Financial Group lowered their price target 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. 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. Finally, Desjardins decreased their price target on BRP Group from C$154.00 to C$152.00 in a report on Tuesday, June 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.63.
Get BRP Group alerts:BRP Group Price Performance
BRP opened at $31.55 on Thursday. BRP Group has a 1 year low of $17.08 and a 1 year high of $45.36. The company's 50 day simple moving average is $25.85 and its 200 day simple moving average is $25.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $3.64 billion, a PE ratio of 157.75 and a beta of 1.53.
BRP Group (NYSE:BRP – Get Rating) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. BRP Group had a negative net margin of 6.75% and a positive return on equity of 6.96%. As a group, sell-side analysts expect that BRP Group will post 0.38 EPS for the current year.Insider Buying and Selling
In related news, CEO Trevor Baldwin bought 12,000 shares of BRP Group stock in a transaction dated Monday, May 16th. The shares were acquired at an average cost of $22.86 per share, with a total value of $274,320.00. Following the completion of the transaction, the chief executive officer now owns 100,297 shares in the company, valued at approximately $2,292,789.42. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 35.93% of the stock is currently owned by insiders.
Hedge Funds Weigh In On BRP Group
Several institutional investors and hedge funds have recently bought and sold shares of BRP. State of New Jersey Common Pension Fund D acquired a new stake in shares of BRP Group during the 4th quarter worth about $2,622,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 buying an additional 2,291 shares during the period. FDx Advisors Inc. acquired a new position in shares of BRP Group in the fourth quarter worth about $205,000. Virginia Retirement Systems ET AL acquired a new stake in BRP Group during the fourth quarter valued at approximately $292,000. Finally, Arizona State Retirement System raised its position in shares of BRP Group by 30.0% during the 4th quarter. Arizona State Retirement System now owns 14,843 shares of the company's stock worth $536,000 after purchasing an additional 3,421 shares during the period. 84.84% of the stock is currently 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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