BRP Group (NYSE:BRP) Sees Strong Trading Volume

Shares of BRP Group, Inc. (NYSE:BRP) saw unusually-strong trading volume on Wednesday . Approximately 40,214 shares were traded during trading, a decline of 86% from the previous session’s volume of 293,254 shares.The stock last traded at $32.97 and had previously closed at $31.27.

A number of analysts have recently issued reports on BRP shares. JPMorgan Chase & Co. lowered their price objective on BRP Group from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, May 24th. TheStreet upgraded BRP Group from a “d+” rating to a “c-” rating in a research report on Thursday, September 2nd. Zacks Investment Research cut BRP Group from a “hold” rating to a “sell” rating in a research report on Monday, August 16th. Northcoast Research raised BRP Group from a “neutral” rating to a “buy” rating in a research note on Thursday, August 12th. Finally, Raymond James upped their price target on BRP Group from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, August 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $31.80.

The firm has a fifty day simple moving average of $31.37 and a 200-day simple moving average of $28.60. The company has a market capitalization of $3.43 billion, a P/E ratio of -48.41 and a beta of 1.53. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24.

BRP Group (NYSE:BRP) last announced its quarterly earnings results on Sunday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. BRP Group had a positive return on equity of 6.96% and a negative net margin of 6.75%. On average, sell-side analysts predict that BRP Group, Inc. will post 0.38 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC bought a new position in BRP Group during the 2nd quarter worth $28,000. Great West Life Assurance Co. Can increased its stake in BRP Group by 41.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 3,169 shares of the company’s stock worth $86,000 after acquiring an additional 926 shares during the period. Royal Bank of Canada increased its stake in BRP Group by 54.0% during the 1st quarter. Royal Bank of Canada now owns 3,258 shares of the company’s stock worth $89,000 after acquiring an additional 1,143 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of BRP Group by 110.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,026 shares of the company’s stock valued at $137,000 after purchasing an additional 2,636 shares during the last quarter. Finally, Advisors Asset Management Inc. bought a new position in shares of BRP Group in the 1st quarter valued at $143,000. 84.84% of the stock is owned by institutional investors and hedge funds.

BRP Group Company Profile (NYSE:BRP)

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.

Recommended Story: Different Options Trading Strategies

Receive News & Ratings for BRP Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BRP Group and related companies with MarketBeat.com's FREE daily email newsletter.