Corebridge Financial Inc. Takes Position in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Corebridge Financial Inc. acquired a new stake in shares of The Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 33,138 shares of the company's stock, valued at approximately $1,284,000.

A number of other institutional investors have also recently added to or reduced their stakes in BWIN. Wealth Enhancement Advisory Services LLC bought a new stake in The Baldwin Insurance Group in the fourth quarter valued at $5,115,000. JPMorgan Chase & Co. lifted its position in The Baldwin Insurance Group by 1,946.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,235,868 shares of the company's stock valued at $61,546,000 after purchasing an additional 1,175,484 shares during the last quarter. Diversified Trust Co acquired a new position in The Baldwin Insurance Group during the 4th quarter valued at about $788,000. Principal Financial Group Inc. bought a new position in The Baldwin Insurance Group in the 4th quarter worth about $2,320,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of The Baldwin Insurance Group in the fourth quarter valued at approximately $2,000,000. 77.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BWIN has been the subject of several analyst reports. Wells Fargo & Company reduced their price objective on 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. BMO Capital Markets assumed coverage on The Baldwin Insurance Group in a research report on Thursday, March 27th. They set an "outperform" rating and a $53.00 price target for the company. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $45.00 price target (up previously from $39.00) on shares of The Baldwin Insurance Group in a research note on Tuesday. Finally, Keefe, Bruyette & Woods decreased their target price 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $45.71.

Insider Buying and Selling

In related news, Director Lowry Baldwin sold 34,901 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $40.22, for a total value of $1,403,718.22. Following the completion of the transaction, the director now owns 90,099 shares of the company's stock, valued at approximately $3,623,781.78. This trade represents a 27.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Seth Bala Cohen sold 12,293 shares of the business's stock in a transaction on 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 directly owns 8,813 shares in the company, valued at approximately $366,092.02. This trade represents a 58.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 131,836 shares of company stock valued at $5,330,639. 20.14% of the stock is owned by corporate insiders.

The Baldwin Insurance Group Price Performance

Shares of NASDAQ:BWIN traded down $2.80 on Tuesday, reaching $38.42. 753,248 shares of the company traded hands, compared to its average volume of 561,161. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $4.52 billion, a PE ratio of -60.03, a P/E/G ratio of 1.17 and a beta of 1.52. The company's 50 day moving average is $41.52 and its 200-day moving average is $43.83. The Baldwin Insurance Group, Inc. has a fifty-two week low of $31.47 and a fifty-two week high of $55.82.

The Baldwin Insurance Group Company 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.