Stock Target Advisor Ratings has reported that BRP Group, Inc. (BRP:NSD) has received an average “Hold” rating from eight analysts currently covering the company. Of these, four have rated the BRP stock with a hold recommendation while three have given a buy recommendation on the company. The average twelve-month price target among brokerages that updated their coverage on the stock in the last year is $48.71.
BRP Group has also been evaluated by several research analysts, with William Blair downgrading its rating from “outperform” to “market perform” in a research report on March 3rd. Wells Fargo & Company, on the other hand, upped its target price on shares of BRP Group from $31.00 to $36.00 and gave the stock an “overweight” rating in a research report on January 18th.
Hedge Funds & Institutional Holdings:
In terms of institutional trading, several large investors have recently modified their holdings of BRP Group. Resurgent Financial Advisors LLC acquired a new stake in the company during the fourth quarter valued at $44,000.
Allspring Global Investments Holdings LLC also acquired a new stake in BRP Group during the third quarter worth approximately $55,000. Eagle Bay Advisors LLC increased its position in BRP Group by 125.0% during the second quarter and now owns 2,356 shares of the BRP stock worth $57,000 after acquiring an additional 1,309 shares during the last quarter.
Captrust Financial Advisors also boosted its position in BRP Group by 2,262.6% during the second quarter, now owning 2,717 shares of the company’s stock worth $66,000 after acquiring an additional 2,602 shares during the last quarter.
Finally, Great West Life Assurance Co. Can acquired a new stake in BRP Group during the third quarter worth approximately $73,000. At present, 47.90% of the stock is owned by institutional investors and hedge funds.
BRP Stock Price Analysis:
BRP Group’s stock has been trading up by 2.1% and opened at $25.01 on Friday. The company’s 50-day simple moving average is $27.63 and its 200-day simple moving average is $27.78.
BRP Group has a 52-week low of $17.08 and a 52-week high of $33.34, with a market cap of $2.90 billion, a price-to-earnings ratio of -33.80, a price-to-earnings-growth ratio of 1.42, and a beta of 1.56. The company has a quick ratio of 1.10, a current ratio of 1.10, and a debt-to-equity ratio of 1.15.
Quarterly Earnings Review:
BRP Group (BRP:NSD) most recently announced its quarterly earnings data on February 28th, reporting ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.21).
Despite this, BRP Group had a positive return on equity of 6.15% and a negative net margin of 4.26%. The business had revenue of $246.04 million for the quarter, compared to analyst estimates of $236.16 million. Analysts expect that BRP Group will post earnings per share of 0.74 for the current year.
Company 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 company was founded in 2011 and is headquartered in Tampa, Florida.
