BRP Group (NYSE:BRP) Sees Strong Trading Volume

BRP Group, Inc. (NYSE:BRP) shares saw unusually-strong trading volume on Wednesday . Approximately 40,214 shares were traded during trading, a decline of 86% from the previous session’s volume of 293,254 shares.The stock last traded at $32.97 and had previously closed at $31.27.

Several research firms recently commented on BRP. TheStreet upgraded shares of BRP Group from a “d+” rating to a “c-” rating in a research report on Thursday, September 2nd. JPMorgan Chase & Co. cut their price objective on shares of BRP Group from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, May 24th. Zacks Investment Research downgraded shares of BRP Group from a “hold” rating to a “sell” rating in a research report on Monday, August 16th. Raymond James raised their price target on shares of BRP Group from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 11th. Finally, Northcoast Research raised shares of BRP Group from a “neutral” rating to a “buy” rating in a report on Thursday, August 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $31.80.

The business has a 50-day moving average price of $31.37 and a 200-day moving average price of $28.60. The firm has a market capitalization of $3.43 billion, a P/E ratio of -48.41 and a beta of 1.53. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24.

BRP Group (NYSE:BRP) last posted its quarterly earnings data on Sunday, August 8th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. BRP Group had a positive return on equity of 6.96% and a negative net margin of 6.75%. As a group, sell-side analysts forecast that BRP Group, Inc. will post 0.38 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Peregrine Capital Management LLC lifted its stake in shares of BRP Group by 11.8% during the second quarter. Peregrine Capital Management LLC now owns 658,404 shares of the company’s stock valued at $17,546,000 after acquiring an additional 69,611 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of BRP Group by 2,411.8% during the first quarter. Rockefeller Capital Management L.P. now owns 503,169 shares of the company’s stock valued at $13,711,000 after acquiring an additional 483,137 shares during the period. Royal Bank of Canada lifted its stake in shares of BRP Group by 54.0% during the first quarter. Royal Bank of Canada now owns 3,258 shares of the company’s stock valued at $89,000 after acquiring an additional 1,143 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in BRP Group by 82.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,110 shares of the company’s stock valued at $521,000 after buying an additional 8,625 shares during the period. Finally, DAVENPORT & Co LLC acquired a new position in BRP Group in the second quarter valued at about $17,637,000. 84.84% of the stock is currently owned by institutional investors and hedge funds.

BRP Group Company Profile (NYSE:BRP)

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 private risk management, commercial risk management, and employee benefits solutions for mid-to-large size businesses, and high net worth individuals and families.

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