The Baldwin Insurance Group (NASDAQ:BRP) Hits New 12-Month High at $34.58

The Baldwin Insurance Group, Inc. (NASDAQ:BRP) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $34.58 and last traded at $34.50, with a volume of 327702 shares trading hands. The stock had previously closed at $32.68.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of The Baldwin Insurance Group from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. upgraded The Baldwin Insurance Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $27.00 to $33.00 in a research report on Monday, April 8th. Wells Fargo & Company reduced their target price on The Baldwin Insurance Group from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. UBS Group upped their price target on The Baldwin Insurance Group from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Finally, Bank of America cut their price objective on shares of The Baldwin Insurance Group from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $34.00.

The Baldwin Insurance Group Price Performance

The business has a 50 day simple moving average of $31.62 and a two-hundred day simple moving average of $27.91. The firm has a market capitalization of $3.97 billion, a P/E ratio of -36.70, a price-to-earnings-growth ratio of 0.91 and a beta of 1.54. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 0.90.

Insider Transactions at The Baldwin Insurance Group

In related news, insider Daniel Galbraith sold 1,040 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $30.76, for a total value of $31,990.40. Following the transaction, the insider now owns 31,126 shares of the company’s stock, valued at $957,435.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other The Baldwin Insurance Group news, General Counsel Seth Bala Cohen sold 10,834 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $30.03, for a total value of $325,345.02. Following the completion of the sale, the general counsel now directly owns 13,813 shares of the company’s stock, valued at $414,804.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Galbraith sold 1,040 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $30.76, for a total value of $31,990.40. Following the transaction, the insider now directly owns 31,126 shares in the company, valued at $957,435.76. The disclosure for this sale can be found here. Insiders have sold 16,874 shares of company stock valued at $510,385 in the last quarter. Insiders own 22.65% of the company’s stock.

Hedge Funds Weigh In On The Baldwin Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in The Baldwin Insurance Group by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 484,059 shares of the company’s stock worth $11,245,000 after buying an additional 19,272 shares during the period. Deutsche Bank AG increased its position in The Baldwin Insurance Group by 12.1% during the 3rd quarter. Deutsche Bank AG now owns 31,474 shares of the company’s stock valued at $731,000 after purchasing an additional 3,394 shares during the period. Envestnet Asset Management Inc. raised its holdings in The Baldwin Insurance Group by 209.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 206,391 shares of the company’s stock worth $4,794,000 after purchasing an additional 139,684 shares in the last quarter. Invesco Ltd. boosted its stake in shares of The Baldwin Insurance Group by 2.6% during the 3rd quarter. Invesco Ltd. now owns 2,112,762 shares of the company’s stock valued at $49,079,000 after purchasing an additional 53,895 shares in the last quarter. Finally, Mariner LLC increased its position in shares of The Baldwin Insurance Group by 129.1% during the third quarter. Mariner LLC now owns 20,566 shares of the company’s stock valued at $478,000 after buying an additional 11,589 shares during the period. 70.42% of the stock is currently owned by institutional investors.

About The Baldwin Insurance Group

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.