BRP Group, Inc. (NYSE:BRP) General Counsel Seth Bala Cohen Purchases 2,500 Shares of Stock

BRP Group, Inc. (NYSE:BRP – Get Rating) General Counsel Seth Bala Cohen bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The shares were purchased at an average cost of $21.50 per share, for a total transaction of $53,750.00. Following the acquisition, the general counsel now directly owns 12,745 shares in the company, valued at approximately $274,017.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

BRP Group stock opened at $23.52 on Wednesday. The stock has a market cap of $2.70 billion, a P/E ratio of 117.60 and a beta of 1.53. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. BRP Group, Inc. has a 1 year low of $17.08 and a 1 year high of $45.36. The firm’s 50 day moving average price is $24.92 and its 200-day moving average price is $30.23.

BRP Group (NYSE:BRP – Get Rating) last released its quarterly earnings data on Tuesday, March 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The company had revenue of $159.20 million for the quarter, compared to the consensus estimate of $139.13 million. BRP Group had a negative net margin of 6.75% and a positive return on equity of 6.96%. As a group, equities analysts expect that BRP Group, Inc. will post 0.38 EPS for the current year.

A number of research firms have commented on BRP. JPMorgan Chase & Co. cut their price target on shares of BRP Group from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, March 2nd. Morgan Stanley cut their price objective on shares of BRP Group from $40.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 9th. TheStreet lowered shares of BRP Group from a “c-” rating to a “d+” rating in a report on Wednesday, January 19th. Wells Fargo & Company lowered their price target on shares of BRP Group from $44.00 to $39.00 and set an “overweight” rating for the company in a report on Wednesday, March 2nd. Finally, UBS Group began coverage on shares of BRP Group in a report on Monday, April 18th. They issued a “buy” rating and a $30.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, BRP Group presently has an average rating of “Buy” and an average target price of $34.14.

Hedge funds have recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of BRP Group in the fourth quarter valued at $63,000. HHM Wealth Advisors LLC purchased a new position in BRP Group during the first quarter worth $57,000. UBS Group AG boosted its stake in BRP Group by 36.8% during the third quarter. UBS Group AG now owns 3,012 shares of the company’s stock worth $101,000 after buying an additional 811 shares during the period. Royal Bank of Canada boosted its stake in BRP Group by 62.3% during the third quarter. Royal Bank of Canada now owns 5,224 shares of the company’s stock worth $174,000 after buying an additional 2,005 shares during the period. Finally, Point72 Hong Kong Ltd boosted its stake in BRP Group by 45.0% during the third quarter. Point72 Hong Kong Ltd now owns 5,593 shares of the company’s stock worth $186,000 after buying an additional 1,736 shares during the period. 84.84% of the stock is owned by hedge funds and other institutional investors.

About BRP Group (Get Rating)

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.

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