BRP Group (NYSE:BRP – Get Rating) had its price target reduced by stock analysts at Raymond James from $43.00 to $39.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective suggests a potential upside of 44.55% from the company’s previous close.
Several other research analysts have also weighed in on the stock. Jefferies Financial Group started coverage on shares of BRP Group in a research note on Thursday, November 18th. They set a “hold” rating and a $39.00 target price for the company. Wells Fargo & Company lowered their target price on shares of BRP Group from $44.00 to $39.00 and set an “overweight” rating for the company in a research note on Wednesday. Morgan Stanley lowered their target price on shares of BRP Group from $43.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, January 14th. JPMorgan Chase & Co. lowered their target price on shares of BRP Group from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, TheStreet lowered shares of BRP Group from a “c-” rating to a “d+” rating in a research note on Wednesday, January 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, BRP Group has an average rating of “Hold” and a consensus target price of $38.40.
Shares of BRP opened at $26.98 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. BRP Group has a 12-month low of $22.00 and a 12-month high of $45.36. The firm has a 50-day moving average price of $30.73 and a 200 day moving average price of $34.37. The firm has a market capitalization of $3.03 billion, a P/E ratio of 134.90 and a beta of 1.53.
BRP Group (NYSE:BRP – Get Rating) last announced its quarterly earnings data on Tuesday, March 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01. BRP Group had a negative net margin of 6.75% and a positive return on equity of 6.96%. Equities research analysts predict that BRP Group will post 0.38 earnings per share for the current fiscal year.
In related news, Chairman Lowry Baldwin sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, December 6th. The shares were sold at an average price of $36.35, for a total value of $5,452,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 35.93% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Bbva USA raised its holdings in BRP Group by 912.5% during the third quarter. Bbva USA now owns 1,134 shares of the company’s stock worth $38,000 after purchasing an additional 1,022 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of BRP Group during the fourth quarter worth approximately $63,000. UBS Group AG grew its position in shares of BRP Group by 36.8% during the third quarter. UBS Group AG now owns 3,012 shares of the company’s stock worth $101,000 after acquiring an additional 811 shares during the last quarter. Royal Bank of Canada grew its position in shares of BRP Group by 62.3% during the third quarter. Royal Bank of Canada now owns 5,224 shares of the company’s stock worth $174,000 after acquiring an additional 2,005 shares during the last quarter. Finally, Point72 Hong Kong Ltd grew its position in shares of BRP Group by 45.0% during the third quarter. Point72 Hong Kong Ltd now owns 5,593 shares of the company’s stock worth $186,000 after acquiring an additional 1,736 shares during the last quarter. 84.84% of the stock is currently owned by institutional investors.
About BRP Group
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 private risk management, commercial risk management, and employee benefits solutions for mid-to-large size businesses, and high net worth individuals and families.