Wells Fargo Thinks BRP Group’s Stock is Going to Recover

Wells Fargo analyst Elyse Greenspan maintained a Buy rating on BRP Group (BRP) yesterday and set a price target of $13.00. The company’s shares closed last Wednesday at $9.10, close to its 52-week low of $8.35.

According to TipRanks.com, Greenspan is a 2-star analyst with an average return of -0.7% and a 53.7% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and United Insurance Holdings.

BRP Group has an analyst consensus of Moderate Buy, with a price target consensus of $13.50.

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Based on BRP Group’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $36.56 million and GAAP net loss of $9.25 million. In comparison, last year the company earned revenue of $18.54 million and had a GAAP net loss of $810.9K.

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BRP Group, Inc. provides insurance services. It operates through the following 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. The Specialty segment is a wholesale co-brokerage platform, which delivers specialty insurers, professionals, individuals and niche industry businesses expanded access to exclusive specialty markets, capabilities and programs requiring complex underwriting and placement. The Mainstreet segment offers personal insurance, commercial insurance and life and health solutions to individuals and businesses in their communities. The Medicare segment offers consultation for government assistance programs and solutions, including traditional Medicare and Medicare Advantage. The company was founded by Elizabeth H. Krystyn, Laura R. Sherman and Lowry L. Baldwin in 2011 and is headquartered in Tampa, FL.

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