PNC Financial Services Group Inc. purchased a new stake in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 12,325 shares of the company's stock, valued at approximately $478,000.
A number of other hedge funds have also modified their holdings of BWIN. Elevation Wealth Partners LLC acquired a new stake in shares of The Baldwin Insurance Group in the 4th quarter valued at approximately $32,000. Nisa Investment Advisors LLC acquired a new stake in The Baldwin Insurance Group during the 4th quarter worth approximately $33,000. Assetmark Inc. acquired a new stake in The Baldwin Insurance Group during the 4th quarter worth approximately $38,000. First Horizon Advisors Inc. acquired a new stake in The Baldwin Insurance Group during the 4th quarter worth approximately $55,000. Finally, Parkside Financial Bank & Trust acquired a new stake in The Baldwin Insurance Group during the 4th quarter worth approximately $59,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.
The Baldwin Insurance Group Stock Up 1.8 %
Shares of BWIN traded up $0.77 during mid-day trading on Friday, hitting $43.89. 1,595,357 shares of the company's stock were exchanged, compared to its average volume of 537,569. The company has a market cap of $5.16 billion, a PE ratio of -68.58, a P/E/G ratio of 1.17 and a beta of 1.72. The Baldwin Insurance Group, Inc. has a 52 week low of $31.47 and a 52 week high of $55.82. The company has a 50-day simple moving average of $40.65 and a 200 day simple moving average of $44.18. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.98 and a quick ratio of 0.98.
Insider Transactions at The Baldwin Insurance Group
In related news, CEO Trevor Baldwin sold 15,902 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $39.33, for a total value of $625,425.66. Following the completion of the transaction, the chief executive officer now directly owns 13,302 shares of the company's stock, valued at approximately $523,167.66. This trade 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 the SEC website. Also, General Counsel Seth Bala Cohen sold 12,293 shares of the firm'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 completion of the transaction, the general counsel now directly owns 8,813 shares of the company's stock, valued at $366,092.02. This represents a 58.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,836 shares of company stock valued at $5,330,639 in the last ninety days. 20.14% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of The Baldwin Insurance Group from $38.00 to $33.00 and set an "underweight" rating on the stock in a report on Wednesday, February 26th. Keefe, Bruyette & Woods dropped their target price 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, JPMorgan Chase & Co. dropped their target price on shares of The Baldwin Insurance Group from $46.00 to $39.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. One equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $43.50.
Check Out Our Latest Stock Analysis on BWIN
The Baldwin Insurance Group Profile
(
Free Report)
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.
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