Envestnet Portfolio Solutions Inc. Makes New Investment in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Envestnet Portfolio Solutions Inc. bought a new stake in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,640 shares of the company's stock, valued at approximately $296,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of 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 worth $61,546,000 after acquiring an additional 1,175,484 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in The Baldwin Insurance Group during the fourth quarter worth approximately $37,091,000. Lord Abbett & CO. LLC bought a new stake in The Baldwin Insurance Group in the third quarter worth approximately $29,447,000. Charles Schwab Investment Management Inc. acquired a new position in The Baldwin Insurance Group in the fourth quarter valued at approximately $21,623,000. Finally, Tributary Capital Management LLC acquired a new position in The Baldwin Insurance Group in the fourth quarter valued at approximately $18,287,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Insider Activity at The Baldwin Insurance Group

In related news, CEO Trevor Baldwin sold 15,902 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $39.33, for a total transaction of $625,425.66. Following the completion of the transaction, the chief executive officer now owns 13,302 shares in the company, valued at approximately $523,167.66. This represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lowry Baldwin sold 34,901 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $3,623,781.78. This trade represents a 27.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 131,836 shares of company stock valued at $5,330,639. 20.14% of the stock is owned by insiders.

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Analysts Set New Price Targets

Several research firms have recently weighed in on BWIN. Wells Fargo & Company lowered their price objective on shares of The Baldwin Insurance Group from $38.00 to $33.00 and set an "underweight" rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. decreased 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 note on Wednesday, February 26th. Keefe, Bruyette & Woods dropped their price objective on shares of The Baldwin Insurance Group from $50.00 to $49.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Finally, BMO Capital Markets assumed coverage on The Baldwin Insurance Group in a research note on Thursday. They issued an "outperform" rating and a $53.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, The Baldwin Insurance Group has an average rating of "Moderate Buy" and an average price target of $44.86.

The Baldwin Insurance Group Stock Down 0.9 %

The Baldwin Insurance Group stock traded down $0.42 during trading on Monday, hitting $44.69. 765,107 shares of the company were exchanged, compared to its average volume of 554,717. The Baldwin Insurance Group, Inc. has a 52 week low of $31.47 and a 52 week high of $55.82. The business's 50 day moving average is $41.36 and its 200 day moving average is $44.14. The company has a market capitalization of $5.26 billion, a P/E ratio of -69.83, a PEG ratio of 1.17 and a beta of 1.72. 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 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.