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.
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.
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