BRP Group, Inc. (NASDAQ:BRP) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in BRP Group, Inc. (NASDAQ:BRP) by 49.2% in the fourth quarter, HoldingsChannel reports. The fund owned 141,145 shares of the company’s stock after purchasing an additional 46,545 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in BRP Group were worth $3,390,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BRP. SG Americas Securities LLC acquired a new stake in shares of BRP Group in the 3rd quarter worth approximately $274,000. Bank of New York Mellon Corp raised its holdings in shares of BRP Group by 27.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,133,781 shares of the company’s stock worth $26,338,000 after purchasing an additional 241,051 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of BRP Group by 32.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,160 shares of the company’s stock worth $259,000 after purchasing an additional 2,723 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of BRP Group by 4.1% in the 3rd quarter. Arizona State Retirement System now owns 18,148 shares of the company’s stock worth $422,000 after purchasing an additional 720 shares in the last quarter. Finally, Van Hulzen Asset Management LLC raised its holdings in shares of BRP Group by 49.9% in the 3rd quarter. Van Hulzen Asset Management LLC now owns 30,791 shares of the company’s stock worth $715,000 after purchasing an additional 10,244 shares in the last quarter. 70.42% of the stock is owned by institutional investors and hedge funds.

BRP Group Stock Performance

BRP stock opened at $26.70 on Friday. BRP Group, Inc. has a 52-week low of $17.33 and a 52-week high of $30.84. The company’s 50 day simple moving average is $28.22 and its 200-day simple moving average is $24.32. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.90 and a current ratio of 0.90.

BRP Group (NASDAQ:BRP) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $284.65 million for the quarter, compared to analyst estimates of $282.00 million. BRP Group had a negative net margin of 7.40% and a positive return on equity of 7.61%. On average, equities research analysts anticipate that BRP Group, Inc. will post 1.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wells Fargo & Company dropped their target price on shares of BRP Group from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. JPMorgan Chase & Co. upgraded shares of BRP Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $27.00 to $33.00 in a report on Monday, April 8th. Bank of America dropped their target price on shares of BRP Group from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of BRP Group from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $33.40.

Insider Buying and Selling at BRP Group

In other BRP Group news, General Counsel Seth Bala Cohen sold 1,033 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $29.04, for a total value of $29,998.32. Following the completion of the sale, the general counsel now directly owns 10,657 shares of the company’s stock, valued at $309,479.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Lowry Baldwin sold 62,629 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $28.94, for a total transaction of $1,812,483.26. Following the completion of the sale, the director now directly owns 37,371 shares of the company’s stock, valued at approximately $1,081,516.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Seth Bala Cohen sold 1,033 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $29.04, for a total transaction of $29,998.32. Following the sale, the general counsel now directly owns 10,657 shares of the company’s stock, valued at $309,479.28. The disclosure for this sale can be found here. Company insiders own 22.65% of the company’s stock.

BRP Group Company Profile

BRP Group, Inc operates as an independent insurance distribution firm that delivers insurance and risk management solutions in the United States. It operates through three segments: Insurance Advisory Solutions; Underwriting, Capacity & Technology Solutions; and Mainstreet Insurance Solutions. The Insurance Advisory Solutions segment provides commercial risk management, employee benefits, and private risk management solutions for businesses and high-net-worth individuals, as well as their families.