Tributary Capital Management LLC purchased a new position in shares of BRP Group, Inc. (NASDAQ:BRP – Get Rating) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 453,132 shares of the company's stock, valued at approximately $10,943,000. Tributary Capital Management LLC owned about 0.39% of BRP Group at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of BRP. HHM Wealth Advisors LLC acquired a new stake in shares of BRP Group during the 1st quarter worth approximately $57,000. M&T Bank Corp grew 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 period. Red Door Wealth Management LLC acquired a new stake in shares of BRP Group during the 2nd quarter worth approximately $233,000. Raymond James & Associates grew 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 period. Finally, Teacher Retirement System of Texas grew 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 period. 49.20% of the stock is owned by hedge funds and other institutional investors.
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In related news, Chairman Lowry Baldwin purchased 172,000 shares of BRP Group stock in a transaction dated Tuesday, September 20th. The shares were acquired at an average price of $28.87 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which is available through this link. 23.36% of the stock is currently owned by insiders.
BRP Group Stock Up 2.0 %
BRP stock traded up $0.51 during midday trading on Tuesday, reaching $26.37. The stock had a trading volume of 740 shares, compared to its average volume of 282,581. The company's fifty day simple moving average is $30.11 and its 200 day simple moving average is $26.92. 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 52-week low of $17.08 and a 52-week high of $45.36.BRP Group (NASDAQ:BRP – Get Rating) last announced its quarterly earnings data 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. The company had revenue of $232.46 million for the quarter, compared to analyst estimates of $220.48 million. BRP Group had a positive return on equity of 6.49% and a negative net margin of 0.52%. Equities analysts expect that BRP Group, Inc. will post 0.8 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. Raymond James raised their price objective on shares of BRP Group from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, August 11th. Morgan Stanley lifted their price target on shares of BRP Group from $26.00 to $36.00 and gave the company an "equal weight" rating in a research note on Friday, August 19th. Jefferies Financial Group dropped their price target on shares of BRP Group from $27.00 to $26.00 and set a "hold" rating on the stock in a research note on Tuesday, July 12th. Finally, Desjardins dropped their price target on shares of BRP Group from C$154.00 to C$152.00 in a research note on Tuesday, June 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.88.
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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