BRP Group (NASDAQ:BRP) Price Target Lowered to $33.00 at Morgan Stanley

BRP Group (NASDAQ:BRPGet Rating) had its price objective trimmed by Morgan Stanley from $36.00 to $33.00 in a report released on Tuesday, MarketBeat reports. The firm currently has an equal weight rating on the stock.

BRP has been the subject of a number of other reports. Wells Fargo & Company reduced their target price on shares of BRP Group from $32.00 to $31.00 and set an overweight rating for the company in a research note on Tuesday, November 8th. Raymond James upped their target price on shares of BRP Group from $32.00 to $34.00 and gave the stock an outperform rating in a research note on Thursday, August 11th. Finally, JPMorgan Chase & Co. lowered shares of BRP Group from an overweight rating to a neutral rating and reduced their target price for the stock from $31.00 to $30.00 in a research note on Monday, October 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $45.88.

BRP Group Price Performance

BRP opened at $28.73 on Tuesday. 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 has a 12 month low of $17.08 and a 12 month high of $38.99. The company has a fifty day simple moving average of $27.68 and a 200 day simple moving average of $27.57. The stock has a market cap of $3.33 billion, a P/E ratio of -92.67, a P/E/G ratio of 1.50 and a beta of 1.52.

BRP Group (NASDAQ:BRPGet Rating) last released its quarterly earnings data on Monday, November 7th. The company reported $0.11 EPS 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 analysts’ expectations of $229.79 million. On average, research analysts expect that BRP Group will post 0.76 EPS for the current year.

Insider Transactions at BRP Group

In related news, General Counsel Seth Bala Cohen sold 3,463 shares of the firm’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $28.25, for a total value of $97,829.75. Following the completion of the sale, the general counsel now directly owns 9,282 shares in the company, valued at approximately $262,216.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Seth Bala Cohen sold 3,463 shares of the firm’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $28.25, for a total value of $97,829.75. Following the completion of the sale, the general counsel now directly owns 9,282 shares in the company, valued at approximately $262,216.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Lowry Baldwin bought 172,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 20th. The stock was purchased 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 directly owns 172,000 shares in the company, valued at approximately $4,965,640. The disclosure for this purchase can be found here. Company insiders own 23.36% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in BRP Group by 3.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,352,308 shares of the company’s stock valued at $141,033,000 after acquiring an additional 184,814 shares during the period. FMR LLC raised its holdings in BRP Group by 0.5% in the 2nd quarter. FMR LLC now owns 5,303,312 shares of the company’s stock valued at $128,075,000 after acquiring an additional 28,834 shares during the period. BlackRock Inc. raised its holdings in BRP Group by 1.8% in the 3rd quarter. BlackRock Inc. now owns 3,725,517 shares of the company’s stock valued at $98,169,000 after acquiring an additional 67,285 shares during the period. Champlain Investment Partners LLC raised its holdings in BRP Group by 18.8% in the 1st quarter. Champlain Investment Partners LLC now owns 3,191,165 shares of the company’s stock valued at $85,619,000 after acquiring an additional 505,635 shares during the period. Finally, Aristotle Capital Boston LLC raised its holdings in BRP Group by 16.9% in the 2nd quarter. Aristotle Capital Boston LLC now owns 1,515,288 shares of the company’s stock valued at $36,594,000 after acquiring an additional 219,567 shares during the period. 49.20% of the stock is owned by institutional investors.

About BRP Group

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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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Analyst Recommendations for BRP Group (NASDAQ:BRP)

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