Raymond James & Associates Takes $430,000 Position in BRP Group, Inc. (NASDAQ:BRP)

Raymond James & Associates bought a new stake in BRP Group, Inc. (NASDAQ:BRP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 17,913 shares of the company’s stock, valued at approximately $430,000.

A number of other hedge funds have also made changes to their positions in BRP. FMR LLC grew its holdings in BRP Group by 51.2% during 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 in the last quarter. Bank of New York Mellon Corp increased its position in shares of BRP Group by 27.0% during the third quarter. Bank of New York Mellon Corp now owns 1,133,781 shares of the company’s stock worth $26,338,000 after acquiring an additional 241,051 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of BRP Group during the third quarter worth about $5,135,000. Envestnet Asset Management Inc. increased its position in shares of BRP Group by 209.4% during the third quarter. Envestnet Asset Management Inc. now owns 206,391 shares of the company’s stock worth $4,794,000 after acquiring an additional 139,684 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of BRP Group during the third quarter worth about $2,198,000. Hedge funds and other institutional investors own 70.42% of the company’s stock.

BRP Group Stock Up 0.2 %

Shares of BRP Group stock opened at $26.70 on Friday. 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 cap of $3.12 billion, a P/E ratio of -17.92, a P/E/G ratio of 0.80 and a beta of 1.54. BRP Group, Inc. has a fifty-two week low of $17.33 and a fifty-two week high of $30.84. The business has a 50-day moving average price of $28.22 and a 200 day moving average price of $24.33.

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, meeting the consensus estimate of $0.01. The firm had revenue of $284.65 million during 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%. On average, sell-side analysts forecast that BRP Group, Inc. will post 1.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BRP shares. Keefe, Bruyette & Woods lifted their target price on BRP Group from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company dropped their target price on BRP Group from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. Bank of America dropped their target price on BRP Group from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. raised BRP Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $27.00 to $33.00 in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $33.40.

Insider Activity

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

About BRP Group

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.