Envestnet Asset Management Inc. Boosts Stock Holdings in BRP Group, Inc. (NASDAQ:BRP)

Envestnet Asset Management Inc. raised its holdings in shares of BRP Group, Inc. (NASDAQ:BRPGet Rating) by 219.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,944 shares of the company’s stock after buying an additional 41,861 shares during the period. Envestnet Asset Management Inc.’s holdings in BRP Group were worth $1,472,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Champlain Investment Partners LLC boosted its holdings in shares of BRP Group by 18.8% during the first quarter. Champlain Investment Partners LLC now owns 3,191,165 shares of the company’s stock worth $85,619,000 after purchasing an additional 505,635 shares during the period. State Street Corp boosted its holdings in shares of BRP Group by 4.5% during the first quarter. State Street Corp now owns 953,517 shares of the company’s stock worth $25,583,000 after purchasing an additional 40,779 shares during the period. DAVENPORT & Co LLC boosted its holdings in shares of BRP Group by 13.5% during the second quarter. DAVENPORT & Co LLC now owns 636,924 shares of the company’s stock worth $15,382,000 after purchasing an additional 75,600 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of BRP Group by 1.0% during the first quarter. Clearbridge Investments LLC now owns 455,692 shares of the company’s stock worth $12,226,000 after purchasing an additional 4,435 shares during the period. Finally, Tributary Capital Management LLC purchased a new stake in shares of BRP Group during the second quarter worth about $10,943,000. 49.20% of the stock is currently owned by hedge funds and other institutional investors.

BRP Group Trading Up 3.8 %

Shares of NASDAQ BRP opened at $27.89 on Monday. BRP Group, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $39.78. The company has a 50 day simple moving average of $27.77 and a two-hundred day simple moving average of $27.53. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.09.

BRP Group (NASDAQ:BRPGet Rating) last announced its earnings results on Monday, November 7th. The company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. BRP Group had a negative net margin of 1.78% and a positive return on equity of 6.70%. The business had revenue of $259.37 million during the quarter, compared to the consensus estimate of $229.79 million. On average, analysts forecast that BRP Group, Inc. will post 0.76 EPS for the current year.

Insider Buying and Selling at BRP Group

In other BRP Group news, Chairman Lowry Baldwin bought 172,000 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was acquired at an average price of $28.87 per share, with a total value of $4,965,640.00. Following the completion of the purchase, the chairman now owns 172,000 shares of the company’s stock, valued at $4,965,640. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 23.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BRP shares. Wells Fargo & Company dropped their target price on shares of BRP Group from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Tuesday, November 8th. Morgan Stanley increased their target price on shares of BRP Group from $26.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, August 19th. Raymond James raised their price objective on shares of BRP Group from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, August 11th. Finally, JPMorgan Chase & Co. lowered shares of BRP Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $31.00 to $30.00 in a report on Monday, October 3rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, BRP Group presently has an average rating of “Moderate Buy” and an average price target of $46.25.

BRP Group Profile

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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 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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Institutional Ownership by Quarter for BRP Group (NASDAQ:BRP)

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