Allworth Financial LP increased its position in shares of BRP Group, Inc. (NASDAQ:BRP – Free Report) by 28,700.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,016 shares of the company’s stock after purchasing an additional 2,009 shares during the period. Allworth Financial LP’s holdings in BRP Group were worth $50,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BRP. American International Group Inc. increased its position in shares of BRP Group by 1.6% during the fourth quarter. American International Group Inc. now owns 28,756 shares of the company’s stock valued at $723,000 after acquiring an additional 452 shares during the last quarter. Amalgamated Bank lifted its position in shares of BRP Group by 4.8% during the 4th quarter. Amalgamated Bank now owns 10,111 shares of the company’s stock worth $254,000 after buying an additional 464 shares during the last quarter. Arizona State Retirement System raised its position in BRP Group by 4.7% in the 1st quarter. Arizona State Retirement System now owns 17,799 shares of the company’s stock valued at $453,000 after purchasing an additional 800 shares during the last quarter. California State Teachers Retirement System raised its position in BRP Group by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 74,393 shares of the company’s stock valued at $1,960,000 after purchasing an additional 892 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in BRP Group by 4.0% in the 4th quarter. Legal & General Group Plc now owns 23,598 shares of the company’s stock valued at $593,000 after buying an additional 912 shares during the period. 49.69% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. lowered their price objective on shares of BRP Group from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.00.
BRP Group Trading Up 4.7 %
Shares of BRP stock opened at $23.16 on Thursday. The firm has a market cap of $2.70 billion, a P/E ratio of -12.13, a PEG ratio of 1.15 and a beta of 1.58. BRP Group, Inc. has a 1-year low of $19.26 and a 1-year high of $32.12. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s 50-day simple moving average is $25.16 and its 200-day simple moving average is $24.33.
BRP Group (NASDAQ:BRP – Get Free Report) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.13). BRP Group had a negative net margin of 9.82% and a positive return on equity of 5.44%. The business had revenue of $297.19 million during the quarter, compared to analysts’ expectations of $286.50 million. As a group, equities analysts forecast that BRP Group, Inc. will post 0.71 EPS for the current year.
Insider Buying and Selling at BRP Group
In related news, major shareholder Laura Sherman sold 30,000 shares of BRP Group stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $26.14, for a total transaction of $784,200.00. Following the transaction, the insider now directly owns 24,695 shares of the company’s stock, valued at $645,527.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other BRP Group news, Director Lowry Baldwin sold 120,000 shares of BRP Group stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $25.98, for a total transaction of $3,117,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Laura Sherman sold 30,000 shares of BRP Group stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $26.14, for a total value of $784,200.00. Following the transaction, the insider now directly owns 24,695 shares in the company, valued at approximately $645,527.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 781,278 shares of company stock worth $20,097,933. 22.65% of the stock is owned by insiders.
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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