SG Americas Securities LLC Takes Position in BRP Group, Inc. (NYSE:BRP)

SG Americas Securities LLC acquired a new position in shares of BRP Group, Inc. (NYSE:BRP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 17,437 shares of the company’s stock, valued at approximately $580,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Champlain Investment Partners LLC increased its position in shares of BRP Group by 93.0% in the second quarter. Champlain Investment Partners LLC now owns 1,969,905 shares of the company’s stock valued at $52,498,000 after buying an additional 949,445 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in BRP Group by 21.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,738,782 shares of the company’s stock valued at $99,639,000 after acquiring an additional 669,997 shares in the last quarter. Otter Creek Advisors LLC acquired a new position in BRP Group during the second quarter worth about $4,523,000. Calamos Advisors LLC lifted its holdings in shares of BRP Group by 436.2% in the third quarter. Calamos Advisors LLC now owns 203,228 shares of the company’s stock valued at $6,765,000 after purchasing an additional 165,326 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in shares of BRP Group by 15.8% in the second quarter. Westfield Capital Management Co. LP now owns 1,005,283 shares of the company’s stock valued at $26,791,000 after purchasing an additional 136,847 shares during the last quarter. Institutional investors own 84.84% of the company’s stock.

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

In other news, Chairman Lowry Baldwin sold 6,201 shares of the business’s stock in a transaction on Friday, December 3rd. The shares were sold at an average price of $37.37, for a total transaction of $231,731.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 35.93% of the stock is owned by company insiders.

BRP opened at $31.05 on Friday. BRP Group, Inc. has a 12 month low of $22.79 and a 12 month high of $45.36. The business has a 50-day moving average of $36.17 and a two-hundred day moving average of $34.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 155.25 and a beta of 1.53.

BRP Group (NYSE:BRP) last released its earnings results 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 business had revenue of $135.56 million for the quarter, compared to analysts’ expectations of $129.51 million. Equities research analysts anticipate that BRP Group, Inc. will post 0.38 earnings per share for the current 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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