BRP Group, Inc. (NASDAQ:BRP) Major Shareholder Sells $1,533,706.00 in Stock

BRP Group, Inc. (NASDAQ:BRP) major shareholder Laura Sherman sold 57,100 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $26.86, for a total value of $1,533,706.00. Following the completion of the transaction, the insider now directly owns 142,900 shares of the company’s stock, valued at approximately $3,838,294. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Laura Sherman also recently made the following trade(s):

• On Monday, September 11th, Laura Sherman sold 22,305 shares of BRP Group stock. The stock was sold at an average price of $26.24, for a total transaction of $585,283.20.

BRP Group Price Performance

NASDAQ:BRP traded down $0.63 during trading hours on Monday, reaching $25.78. 430,516 shares of the company’s stock were exchanged, compared to its average volume of 366,665. The company has a market capitalization of $3.01 billion, a P/E ratio of -13.46, a price-to-earnings-growth ratio of 1.35 and a beta of 1.56. BRP Group, Inc. has a 12 month low of $19.26 and a 12 month high of $32.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.16. The business’s 50-day simple moving average is $25.02 and its two-hundred day simple moving average is $24.49.

BRP Group (NASDAQ:BRP) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.13). The company had revenue of $297.19 million for the quarter, compared to analyst estimates of $286.50 million. BRP Group had a negative net margin of 9.82% and a positive return on equity of 5.44%. Sell-side analysts expect that BRP Group, Inc. will post 0.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BRP. JPMorgan Chase & Co. lowered their price objective on shares of BRP Group from $32.00 to $28.00 in a research note on Thursday, July 6th. Raymond James decreased their price target on BRP Group from $34.00 to $30.00 in a research note on Monday, May 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.20.

Hedge Funds Weigh In On BRP Group

Institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC raised its stake in BRP Group by 22.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 824,252 shares of the company’s stock valued at $20,425,000 after purchasing an additional 152,451 shares during the period. Wells Fargo & Company MN grew its holdings in shares of BRP Group by 46.3% during the second quarter. Wells Fargo & Company MN now owns 68,315 shares of the company’s stock valued at $1,693,000 after buying an additional 21,610 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in BRP Group by 33.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 88,422 shares of the company’s stock worth $2,191,000 after acquiring an additional 22,321 shares during the period. Cape Cod Five Cents Savings Bank boosted its position in BRP Group by 100.0% during the 2nd quarter. Cape Cod Five Cents Savings Bank now owns 20,000 shares of the company’s stock worth $496,000 after acquiring an additional 10,000 shares during the period. Finally, Natixis Advisors L.P. boosted its position in BRP Group by 18.7% during the 2nd quarter. Natixis Advisors L.P. now owns 16,883 shares of the company’s stock worth $418,000 after acquiring an additional 2,663 shares during the period. Hedge funds and other institutional investors own 49.69% of the company’s stock.

About BRP Group

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.