Alliancebernstein L.P. Buys New Position in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Alliancebernstein L.P. bought a new position in shares of The Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 82,208 shares of the company's stock, valued at approximately $3,186,000. Alliancebernstein L.P. owned about 0.07% of The Baldwin Insurance Group at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Venator Management LLC acquired a new position in The Baldwin Insurance Group during the fourth quarter worth approximately $28,007,000. Premier Fund Managers Ltd bought a new stake in The Baldwin Insurance Group in the 4th quarter valued at $44,000. Pictet Asset Management Holding SA acquired a new stake in The Baldwin Insurance Group during the 4th quarter valued at $332,000. Loomis Sayles & Co. L P bought a new position in The Baldwin Insurance Group during the fourth quarter worth $44,246,000. Finally, JPMorgan Chase & Co. raised its position in shares of The Baldwin Insurance Group by 35.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,673,944 shares of the company's stock valued at $64,882,000 after purchasing an additional 438,076 shares during the period. Institutional investors own 77.49% of the company's stock.

The Baldwin Insurance Group Price Performance

Shares of BWIN stock traded down $0.64 during trading hours on Friday, reaching $42.13. The company's stock had a trading volume of 405,185 shares, compared to its average volume of 561,064. The Baldwin Insurance Group, Inc. has a fifty-two week low of $31.47 and a fifty-two week high of $55.82. The firm's 50 day simple moving average is $41.74 and its 200-day simple moving average is $43.39. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of -65.83, a PEG ratio of 1.17 and a beta of 1.52.

Insider Activity at The Baldwin Insurance Group

In related news, Director Lowry Baldwin sold 34,901 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $40.22, for a total transaction of $1,403,718.22. Following the sale, the director now owns 90,099 shares in the company, valued at $3,623,781.78. The trade was a 27.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Trevor Baldwin sold 68,740 shares of The Baldwin Insurance Group stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $40.60, for a total value of $2,790,844.00. Following the sale, the chief executive officer now directly owns 80,663 shares in the company, valued at $3,274,917.80. The trade was a 46.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 131,836 shares of company stock valued at $5,330,639 over the last ninety days. 20.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on BWIN shares. BMO Capital Markets assumed coverage on shares of The Baldwin Insurance Group in a report on Thursday, March 27th. They set an "outperform" rating and a $53.00 target price for the company. Keefe, Bruyette & Woods dropped their price target on The Baldwin Insurance Group from $50.00 to $49.00 and set an "outperform" rating for the company in a report on Friday, January 10th. Wells Fargo & Company upped their price objective on The Baldwin Insurance Group from $33.00 to $34.00 and gave the company an "underweight" rating in a report on Thursday, April 10th. Jefferies Financial Group lifted their target price on The Baldwin Insurance Group from $41.00 to $42.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $45.00 target price (up previously from $39.00) on shares of The Baldwin Insurance Group in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $45.29.

About The Baldwin Insurance Group

The Baldwin Insurance 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.