Bank of New York Mellon Corp Takes Position in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Bank of New York Mellon Corp bought a new position in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 956,935 shares of the company's stock, valued at approximately $37,091,000. Bank of New York Mellon Corp owned about 0.81% of The Baldwin Insurance Group as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC purchased a new position in shares of The Baldwin Insurance Group during the 4th quarter worth about $5,115,000. JPMorgan Chase & Co. boosted its stake in shares of The Baldwin Insurance Group by 1,946.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,235,868 shares of the company's stock worth $61,546,000 after purchasing an additional 1,175,484 shares during the period. Diversified Trust Co purchased a new position in shares of The Baldwin Insurance Group during the 4th quarter worth about $788,000. Harbor Capital Advisors Inc. purchased a new stake in The Baldwin Insurance Group in the 4th quarter valued at about $2,000,000. Finally, Peapack Gladstone Financial Corp purchased a new stake in The Baldwin Insurance Group in the 3rd quarter valued at about $263,000. 77.49% of the stock is currently owned by institutional investors.

The Baldwin Insurance Group Price Performance

BWIN traded up $0.61 during midday trading on Friday, hitting $39.20. 530,717 shares of the company traded hands, compared to its average volume of 515,372. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of -61.25, a PEG ratio of 1.17 and a beta of 1.72. The Baldwin Insurance Group, Inc. has a 52-week low of $26.08 and a 52-week high of $55.82. The business has a 50 day simple moving average of $39.93 and a two-hundred day simple moving average of $44.49.

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Insider Buying and Selling

In other The Baldwin Insurance Group news, major shareholder Elizabeth Krystyn sold 191,307 shares of The Baldwin Insurance Group stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $45.18, for a total transaction of $8,643,250.26. Following the completion of the sale, the insider now directly owns 232,570 shares in the company, valued at $10,507,512.60. This trade represents a 45.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Seth Bala Cohen sold 12,293 shares of The Baldwin Insurance Group stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $41.54, for a total transaction of $510,651.22. Following the sale, the general counsel now owns 8,813 shares of the company's stock, valued at approximately $366,092.02. This represents a 58.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 326,807 shares of company stock worth $14,359,193. Insiders own 20.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BWIN. Keefe, Bruyette & Woods lowered their price objective on shares of The Baldwin Insurance Group from $50.00 to $49.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. lowered their price target on shares of The Baldwin Insurance Group from $46.00 to $39.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company lowered their price target on shares of The Baldwin Insurance Group from $38.00 to $33.00 and set an "underweight" rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $43.50.

The Baldwin Insurance Group Profile

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.