The Baldwin Insurance Group (NASDAQ:BRP) Hits New 12-Month High – Still a Buy?

The Baldwin Insurance Group, Inc. (NASDAQ:BRP)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $49.92 and last traded at $48.90, with a volume of 418400 shares. The stock had previously closed at $49.08.

The Baldwin Insurance Group Stock Performance

The stock’s 50 day moving average is $48.74 and its two-hundred day moving average is $43.08. The firm has a market capitalization of $5.78 billion, a P/E ratio of -53.42, a P/E/G ratio of 0.91 and a beta of 1.54. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.90.

Hedge Funds Weigh In On The Baldwin Insurance Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRP. Westfield Capital Management Co. LP bought a new stake in shares of The Baldwin Insurance Group in the 3rd quarter valued at $23,465,000. Driehaus Capital Management LLC lifted its holdings in shares of The Baldwin Insurance Group by 53.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 931,959 shares of the company’s stock valued at $33,057,000 after purchasing an additional 325,751 shares in the last quarter. State Street Corp grew its position in shares of The Baldwin Insurance Group by 13.3% in the 3rd quarter. State Street Corp now owns 1,956,551 shares of the company’s stock valued at $63,901,000 after purchasing an additional 229,387 shares during the period. William Blair Investment Management LLC increased its stake in The Baldwin Insurance Group by 5.4% during the 2nd quarter. William Blair Investment Management LLC now owns 3,083,281 shares of the company’s stock worth $109,364,000 after purchasing an additional 157,631 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in The Baldwin Insurance Group during the 2nd quarter worth approximately $5,177,000. Institutional investors own 70.42% of the company’s stock.

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.