The Baldwin Insurance Group (NASDAQ:BRP) Reaches New 52-Week High – Should You Buy?

The Baldwin Insurance Group, Inc. (NASDAQ:BRP) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $54.78 and last traded at $53.40, with a volume of 709869 shares changing hands. The stock had previously closed at $54.78.

The Baldwin Insurance Group Price Performance

The company has a 50 day moving average of $47.59 and a 200 day moving average of $38.65. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of -59.54, a price-to-earnings-growth ratio of 0.91 and a beta of 1.54.

Hedge Funds Weigh In On The Baldwin Insurance Group

A number of large investors have recently modified their holdings of BRP. Driehaus Capital Management LLC grew its stake in shares of The Baldwin Insurance Group by 53.7% in the second quarter. Driehaus Capital Management LLC now owns 931,959 shares of the company’s stock valued at $33,057,000 after buying an additional 325,751 shares in the last quarter. Confluence Investment Management LLC grew its position in The Baldwin Insurance Group by 178.6% in the second quarter. Confluence Investment Management LLC now owns 345,789 shares of the company’s stock valued at $12,265,000 after acquiring an additional 221,668 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of The Baldwin Insurance Group by 5.4% during the second quarter. William Blair Investment Management LLC now owns 3,083,281 shares of the company’s stock valued at $109,364,000 after purchasing an additional 157,631 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of The Baldwin Insurance Group during the second quarter worth $5,177,000. Finally, Vanguard Group Inc. boosted its stake in shares of The Baldwin Insurance Group by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 6,107,277 shares of the company’s stock valued at $146,697,000 after purchasing an additional 111,662 shares during the period. 70.42% of the stock is currently owned by hedge funds and other institutional investors.

The Baldwin Insurance Group Company Profile

BRP 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. The Insurance Advisory Solutions segment provides commercial risk management, employee benefits, and private risk management solutions for businesses and high-net-worth individuals, as well as their families.