SG Americas Securities LLC Acquires New Shares in BRP Group, Inc. (NYSE:BRP)

SG Americas Securities LLC bought a new position in BRP Group, Inc. (NYSE:BRP) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,437 shares of the company’s stock, valued at approximately $580,000.

A number of other hedge funds also recently bought and sold shares of BRP. Envestnet Asset Management Inc. acquired a new position in BRP Group during the 2nd quarter valued at about $301,000. US Bancorp DE boosted its position in shares of BRP Group by 403.9% during the second quarter. US Bancorp DE now owns 10,662 shares of the company’s stock worth $284,000 after buying an additional 8,546 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of BRP Group by 4.5% during the second quarter. PNC Financial Services Group Inc. now owns 11,514 shares of the company’s stock worth $307,000 after buying an additional 500 shares during the period. Mid Atlantic Financial Management Inc. ADV grew its holdings in BRP Group by 31.8% in the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 23,600 shares of the company’s stock worth $629,000 after buying an additional 5,700 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in BRP Group by 33.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 25,520 shares of the company’s stock valued at $680,000 after acquiring an additional 6,410 shares during the period. Institutional investors own 84.84% of the company’s stock.

BRP has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on BRP Group in a research note on Thursday, November 18th. They issued a “hold” rating and a $39.00 price target for the company. Raymond James increased their target price on shares of BRP Group from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, November 11th. Morgan Stanley lowered their target price on shares of BRP Group from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company reduced their price target on shares of BRP Group from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, January 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, BRP Group presently has an average rating of “Hold” and a consensus price target of $37.50.

In other BRP Group news, Chairman Lowry Baldwin sold 150,000 shares of the company’s stock in a transaction on Monday, December 6th. The stock was sold at an average price of $36.35, for a total value of $5,452,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 35.93% of the company’s stock.

Shares of BRP Group stock opened at $31.05 on Friday. BRP Group, Inc. has a 52 week low of $22.79 and a 52 week high of $45.36. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The stock has a market cap of $3.48 billion, a PE ratio of 155.25 and a beta of 1.53. The company’s 50-day moving average price is $36.17 and its two-hundred day moving average price is $34.00.

BRP Group (NYSE:BRP) last announced its quarterly earnings data on Sunday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.11. BRP Group had a negative net margin of 6.75% and a positive return on equity of 6.96%. The company had revenue of $135.56 million for the quarter, compared to analysts’ expectations of $129.51 million. On average, equities analysts predict that BRP Group, Inc. will post 0.38 EPS for the current fiscal year.

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

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