34,588 Shares in BRP Group, Inc. (NYSE:BRP) Acquired by Algert Global LLC

Algert Global LLC acquired a new position in shares of BRP Group, Inc. (NYSE:BRP) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 34,588 shares of the company’s stock, valued at approximately $922,000.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new stake in BRP Group during the 2nd quarter worth approximately $28,000. Great West Life Assurance Co. Can raised its stake in BRP Group by 41.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 3,169 shares of the company’s stock worth $86,000 after acquiring an additional 926 shares in the last quarter. Royal Bank of Canada grew its position in BRP Group by 54.0% during the 1st quarter. Royal Bank of Canada now owns 3,258 shares of the company’s stock worth $89,000 after purchasing an additional 1,143 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of BRP Group by 79.1% in the first quarter. SG Americas Securities LLC now owns 7,158 shares of the company’s stock valued at $195,000 after acquiring an additional 3,162 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of BRP Group by 9.8% in the second quarter. Legal & General Group Plc now owns 7,455 shares of the company’s stock valued at $199,000 after acquiring an additional 666 shares in the last quarter. Institutional investors own 84.84% of the company’s stock.

BRP stock traded up $0.42 during mid-day trading on Thursday, reaching $37.40. 864 shares of the stock traded hands, compared to its average volume of 328,579. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. BRP Group, Inc. has a 52-week low of $22.79 and a 52-week high of $40.82. The company has a market cap of $3.73 billion, a P/E ratio of -53.59 and a beta of 1.53. The stock’s fifty day moving average is $34.54 and its 200-day moving average is $29.60.

BRP Group (NYSE:BRP) last issued its quarterly earnings data on Sunday, August 8th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. BRP Group had a negative net margin of 6.75% and a positive return on equity of 6.96%. The firm had revenue of $119.71 million for the quarter, compared to analyst estimates of $103.87 million. Equities research analysts expect that BRP Group, Inc. will post 0.38 earnings per share for the current year.

In related news, Director Jay A. Cohen acquired 2,800 shares of the stock in a transaction dated Friday, September 17th. The shares were acquired at an average price of $30.50 per share, for a total transaction of $85,400.00. Following the completion of the purchase, the director now owns 3,614 shares in the company, valued at approximately $110,227. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 35.93% of the company’s stock.

BRP has been the subject of a number of research reports. Zacks Investment Research cut shares of BRP Group from a “hold” rating to a “sell” rating in a research report on Monday, August 16th. Northcoast Research raised shares of BRP Group from a “neutral” rating to a “buy” rating in a research report on Thursday, August 12th. Raymond James boosted their target price on shares of BRP Group from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, August 11th. Wells Fargo & Company boosted their target price on shares of BRP Group from $34.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, September 16th. Finally, TheStreet upgraded shares of BRP Group from a “d+” rating to a “c-” rating in a research note on Thursday, September 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned 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 “Buy” and an average price target of $33.00.

BRP Group Company Profile

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.

Further Reading: How analysts view the yield curve

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

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