SG Americas Securities LLC Sells 7,136 Shares of BRP Group, Inc. (NASDAQ:BRP)

SG Americas Securities LLC trimmed its holdings in BRP Group, Inc. (NASDAQ:BRP) by 60.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,645 shares of the company’s stock after selling 7,136 shares during the period. SG Americas Securities LLC’s holdings in BRP Group were worth $112,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of BRP Group by 51.2% in the 3rd quarter. FMR LLC now owns 8,674,940 shares of the company’s stock valued at $201,519,000 after purchasing an additional 2,938,558 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of BRP Group by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,995,615 shares of the company’s stock worth $139,278,000 after acquiring an additional 73,762 shares in the last quarter. BlackRock Inc. increased its holdings in shares of BRP Group by 6.5% during the 2nd quarter. BlackRock Inc. now owns 4,215,084 shares of the company’s stock valued at $104,450,000 after acquiring an additional 256,122 shares during the last quarter. Invesco Ltd. raised its stake in shares of BRP Group by 2.6% in the 3rd quarter. Invesco Ltd. now owns 2,112,762 shares of the company’s stock valued at $49,079,000 after acquiring an additional 53,895 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in BRP Group by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,248,657 shares of the company’s stock worth $30,942,000 after purchasing an additional 45,648 shares during the last quarter. 70.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BRP shares. Wells Fargo & Company lowered their price target on BRP Group from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Keefe, Bruyette & Woods upped their price target on shares of BRP Group from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Bank of America cut their price target on BRP Group from $44.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. upgraded shares of BRP Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $27.00 to $33.00 in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BRP Group presently has an average rating of “Buy” and an average price target of $33.40.

BRP Group Trading Up 2.9 %

Shares of BRP opened at $27.59 on Friday. The stock’s 50-day moving average price is $28.07 and its 200 day moving average price is $24.19. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -18.52, a P/E/G ratio of 0.80 and a beta of 1.54. BRP Group, Inc. has a 12-month low of $17.33 and a 12-month high of $30.84.

BRP Group (NASDAQ:BRP) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $284.65 million for the quarter, compared to analyst estimates of $282.00 million. BRP Group had a positive return on equity of 7.61% and a negative net margin of 7.40%. As a group, research analysts predict that BRP Group, Inc. will post 1.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Seth Bala Cohen sold 1,033 shares of BRP Group stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $29.04, for a total transaction of $29,998.32. Following the sale, the general counsel now directly owns 10,657 shares in the company, valued at approximately $309,479.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other BRP Group news, Director Lowry Baldwin sold 62,629 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $28.94, for a total value of $1,812,483.26. Following the sale, the director now directly owns 37,371 shares in the company, valued at $1,081,516.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Seth Bala Cohen sold 1,033 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $29.04, for a total value of $29,998.32. Following the transaction, the general counsel now owns 10,657 shares of the company’s stock, valued at $309,479.28. The disclosure for this sale can be found here. Corporate insiders own 22.65% of the company’s stock.

BRP Group Company Profile

BRP Group, Inc operates as an independent insurance distribution firm that delivers insurance and risk management solutions in the United States. It operates through three segments: Insurance Advisory Solutions; Underwriting, Capacity & Technology Solutions; and Mainstreet Insurance Solutions. The Insurance Advisory Solutions segment provides commercial risk management, employee benefits, and private risk management solutions for businesses and high-net-worth individuals, as well as their families.