In yesterday’s Wall Street session, BRP Group Inc. (NASDAQ:BRP) shares traded at $22.52, down -2.64% from the previous session.
9 analysts cover BRP Group Inc. (NASDAQ:BRP), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $37.00 and a low of $29.00, we find $34.00. Given the previous closing price of $23.13, this indicates a potential upside of 47.0 percent. BRP stock price is now -21.44% away from the 50-day moving average and -19.13% away from the 200-day moving average. The market capitalization of the company currently stands at $2.69B.
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The stock has received a hold rating from 4 analysts and a buy rating from 4. Brokers who have rated the stock have averaged $34.14 as their price target over the next twelve months.
On October 03, 2022, JP Morgan Downgraded its previous ‘Overweight’ rating to ‘Neutral’ on the stock reducing its target price from $31 to quote $30, while ‘UBS’ rates the stock as ‘Buy’.
In other news, Wiebeck Kristopher Aaron, Chief Strategy Officer sold 15,000 shares of the company’s stock on Nov 29. The stock was sold for $440,100 at an average price of $29.34. Upon completion of the transaction, the Chief Strategy Officer now directly owns 51,126 shares in the company, valued at $1.15 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 29, Chief Strategy Officer Wiebeck Kristopher Aaron sold 10,000 shares of the business’s stock. A total of $293,300 was realized by selling the stock at an average price of $29.33. Insiders disposed of 5,944,998 shares of company stock worth roughly $133.88 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BRP stock. A new stake in BRP Group Inc. shares was purchased by FARMER STEVEN PATRICK during the first quarter worth $12,593,000. HOOD RIVER CAPITAL MANAGEMENT LLC invested $12,123,000 in shares of BRP during the first quarter. In the first quarter, NEUBERGER BERMAN GROUP LLC acquired a new stake in BRP Group Inc. valued at approximately $3,868,000. QUADRANT PRIVATE WEALTH MANAGEMENT, LLC acquired a new stake in BRP for approximately $633,000. INTEGRATED WEALTH CONCEPTS LLC purchased a new stake in BRP valued at around $515,000 in the second quarter. In total, there are 219 active investors with 94.20% ownership of the company’s stock.
On Wednesday morning BRP Group Inc. (NASDAQ: BRP) stock kicked off with the opening price of $22.16. During the past 12 months, BRP Group Inc. has had a low of $17.08 and a high of $33.34. As of last week, the company has a debt-to-equity ratio of 2.18, a current ratio of 1.10, and a quick ratio of 1.10. The fifty day moving average price for BRP is $28.61 and a two-hundred day moving average price translates $27.84 for the stock.
The latest earnings results from BRP Group Inc. (NASDAQ: BRP) was released for Sep, 2022. According to the Insurance Brokers Company, earnings per share came in at $0.18, beating analysts’ expectations of $0.17 by 0.01. This compares to -$0.46 EPS in the same period last year. The net profit margin was -4.30% and return on equity was -6.50% for BRP. The company reported revenue of $246.04 million for the quarter, compared to $159.2 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 54.55 percent. For the current quarter, analysts expect BRP to generate $234.7M in revenue.
BRP Group Inc.(BRP) 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 commercial risk management, employee benefits solutions, and private risk management for mid-to-large size businesses and high net worth individuals, as well as its families. The Specialty segment delivers specialty insurers, professionals, individuals, and industry businesses the access to specialty markets, as well as capabilities and programs requiring underwriting and placement. This segment also operates as a managing general agent of the Future platform, which delivers proprietary, technology-enabled insurance solutions. The MainStreet segment offers personal insurance, commercial insurance, and life and health solutions to individuals and businesses in its communities. The Medicare segment provides consultation for government assistance programs and solutions, including Medicare and Medicare Advantage to seniors and Medicare-eligible individuals through a network of primarily independent contractor agents. The company was founded in 2011 and is headquartered in Tampa, Florida.
