Raymond James Financial Inc. purchased a new stake in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 39,021 shares of the company's stock, valued at approximately $1,512,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of The Baldwin Insurance Group in the fourth quarter valued at about $5,115,000. JPMorgan Chase & Co. lifted 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 during the period. Diversified Trust Co acquired a new stake in shares of The Baldwin Insurance Group during the 4th quarter worth approximately $788,000. Principal Financial Group Inc. bought a new stake in shares of The Baldwin Insurance Group during the fourth quarter valued at approximately $2,320,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of The Baldwin Insurance Group in the fourth quarter valued at $2,000,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at The Baldwin Insurance Group
In related news, General Counsel Seth Bala Cohen sold 12,293 shares of the company's 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 transaction, the general counsel now owns 8,813 shares in the company, valued at $366,092.02. This represents a 58.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Trevor Baldwin sold 68,740 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $40.60, for a total transaction of $2,790,844.00. Following the sale, the chief executive officer now directly owns 80,663 shares in the company, valued at approximately $3,274,917.80. This represents a 46.01 % decrease in their position. 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 three months. Corporate insiders own 20.14% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. 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 on the stock in a research note on Wednesday, February 26th. BMO Capital Markets assumed coverage on shares of The Baldwin Insurance Group in a research report on Thursday, March 27th. They set an "outperform" rating and a $53.00 target price on the stock. Keefe, Bruyette & Woods dropped their price target 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. Finally, Wells Fargo & Company cut 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 note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, The Baldwin Insurance Group currently has a consensus rating of "Moderate Buy" and an average price target of $44.86.
Read Our Latest Stock Analysis on BWIN
The Baldwin Insurance Group Price Performance
Shares of NASDAQ BWIN traded down $0.95 during mid-day trading on Thursday, hitting $45.15. 852,121 shares of the stock were exchanged, compared to its average volume of 556,327. The company has a market cap of $5.31 billion, a P/E ratio of -70.55, a PEG ratio of 1.17 and a beta of 1.72. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.98 and a current ratio of 0.98. The Baldwin Insurance Group, Inc. has a twelve month low of $31.47 and a twelve month high of $55.82. The stock's fifty day simple moving average is $41.51 and its two-hundred day simple moving average is $44.12.
About The Baldwin Insurance Group
(
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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