Fmr LLC grew its holdings in BRP Group, Inc. (NASDAQ:BRP – Free Report) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,221,940 shares of the company’s stock after acquiring an additional 124,832 shares during the quarter. Fmr LLC owned 4.50% of BRP Group worth $132,951,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of BRP. Resurgent Financial Advisors LLC bought a new stake in shares of BRP Group in the fourth quarter worth about $44,000. Captrust Financial Advisors boosted its position in shares of BRP Group by 2,262.6% during the second quarter. Captrust Financial Advisors now owns 2,717 shares of the company’s stock worth $66,000 after buying an additional 2,602 shares during the period. Citigroup Inc. boosted its position in shares of BRP Group by 50.5% during the fourth quarter. Citigroup Inc. now owns 3,669 shares of the company’s stock worth $92,000 after buying an additional 1,231 shares during the period. UBS Group AG boosted its position in shares of BRP Group by 202.4% during the third quarter. UBS Group AG now owns 6,081 shares of the company’s stock worth $160,000 after buying an additional 4,070 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of BRP Group by 15.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,437 shares of the company’s stock worth $212,000 after buying an additional 1,120 shares during the period. 49.69% of the stock is currently owned by institutional investors.
BRP Group Trading Up 1.5 %
Shares of BRP Group stock opened at $27.00 on Friday. BRP Group, Inc. has a 12-month low of $19.26 and a 12-month high of $32.83. The stock has a market cap of $3.15 billion, a P/E ratio of -14.14, a P/E/G ratio of 1.29 and a beta of 1.58. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.16. The business’s 50 day moving average is $24.85 and its 200-day moving average is $24.62.
BRP Group (NASDAQ:BRP – Get Free Report) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.13). BRP Group had a positive return on equity of 5.44% and a negative net margin of 9.82%. The company had revenue of $297.19 million for the quarter, compared to the consensus estimate of $286.50 million. Equities research analysts predict that BRP Group, Inc. will post 0.71 earnings per share for the current fiscal year.
Insider Transactions at BRP Group
In related news, General Counsel Seth Bala Cohen sold 9,858 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $25.15, for a total value of $247,928.70. Following the sale, the general counsel now owns 12,124 shares in the company, valued at approximately $304,918.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Trevor Baldwin sold 238,147 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $25.35, for a total value of $6,037,026.45. Following the sale, the chief executive officer now owns 32,864 shares in the company, valued at approximately $833,102.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Seth Bala Cohen sold 9,858 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $25.15, for a total value of $247,928.70. Following the completion of the sale, the general counsel now owns 12,124 shares in the company, valued at approximately $304,918.60. The disclosure for this sale can be found here. Insiders have sold a total of 491,557 shares of company stock worth $12,515,563 in the last 90 days. Corporate insiders own 22.65% of the company’s stock.
Analysts Set New Price Targets
BRP has been the subject of several recent research reports. Raymond James reduced their price objective on BRP Group from $34.00 to $30.00 in a research report on Monday, May 15th. JPMorgan Chase & Co. reduced their price objective on BRP Group from $32.00 to $28.00 in a research report on Thursday, July 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.20.
About BRP Group
BRP Group, Inc markets and sells insurance products and services in the United States. It 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.
Further Reading
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