Champlain Investment Partners LLC grew its stake in BRP Group, Inc. (NASDAQ:BRP – Free Report) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,469,060 shares of the company’s stock after acquiring an additional 164,760 shares during the period. Champlain Investment Partners LLC owned 2.99% of BRP Group worth $88,322,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Resurgent Financial Advisors LLC bought a new position in shares of BRP Group during the fourth quarter valued at approximately $44,000. Captrust Financial Advisors boosted its stake 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 valued at $66,000 after purchasing an additional 2,602 shares in the last quarter. Citigroup Inc. boosted its stake in shares of BRP Group by 50.5% during the fourth quarter. Citigroup Inc. now owns 3,669 shares of the company’s stock valued at $92,000 after purchasing an additional 1,231 shares in the last quarter. UBS Group AG boosted its stake in BRP Group by 202.4% in the third quarter. UBS Group AG now owns 6,081 shares of the company’s stock valued at $160,000 after acquiring an additional 4,070 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in BRP Group by 15.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,437 shares of the company’s stock valued at $212,000 after acquiring an additional 1,120 shares in the last quarter. 49.69% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, CEO Trevor Baldwin sold 238,147 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $25.35, for a total transaction of $6,037,026.45. Following the completion of the transaction, the chief executive officer now owns 32,864 shares of the company’s stock, valued at $833,102.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Trevor Baldwin sold 238,147 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $25.35, for a total transaction of $6,037,026.45. Following the completion of the transaction, the chief executive officer now owns 32,864 shares of the company’s stock, valued at $833,102.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Seth Bala Cohen sold 9,858 shares of BRP Group stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $25.15, for a total transaction of $247,928.70. Following the completion of the transaction, the general counsel now directly owns 12,124 shares of the company’s stock, valued at approximately $304,918.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 491,557 shares of company stock valued at $12,515,563. Insiders own 22.65% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of BRP Group from $32.00 to $28.00 in a research note on Thursday, July 6th. Raymond James lowered their target price on shares of BRP Group from $34.00 to $30.00 in a research note on Monday, May 15th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.20.
Get Our Latest Research Report on BRP
BRP Group Stock Performance
Shares of NASDAQ BRP traded up $0.51 during midday trading on Friday, reaching $27.10. The company had a trading volume of 102,867 shares, compared to its average volume of 366,538. The business’s 50-day simple moving average is $24.81 and its 200 day simple moving average is $24.68. The stock has a market cap of $3.16 billion, a P/E ratio of -13.92, a P/E/G ratio of 1.29 and a beta of 1.58. BRP Group, Inc. has a 1 year low of $19.26 and a 1 year high of $32.83. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.16.
BRP Group (NASDAQ:BRP – Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $297.19 million during the quarter, compared to analysts’ expectations of $286.50 million. BRP Group had a positive return on equity of 5.44% and a negative net margin of 9.82%. On average, analysts forecast that BRP Group, Inc. will post 0.71 earnings per share for the current fiscal year.
BRP Group Profile
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.
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