The Baldwin Insurance Group (NASDAQ:BRP) Hits New 52-Week High – Time to Buy?

The Baldwin Insurance Group, Inc. (NASDAQ:BRP) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $53.13 and last traded at $52.58, with a volume of 313427 shares. The stock had previously closed at $52.25.

The Baldwin Insurance Group Stock Performance

The business’s fifty day moving average is $46.63 and its 200-day moving average is $37.95. 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 company has a market cap of $6.18 billion, a PE ratio of -56.79, a P/E/G ratio of 0.91 and a beta of 1.54.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. raised its holdings in The Baldwin Insurance Group by 31.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,415 shares of the company’s stock worth $50,000 after purchasing an additional 340 shares during the period. Smith Chas P & Associates PA Cpas purchased a new position in shares of The Baldwin Insurance Group during the 3rd quarter valued at about $149,000. Moody National Bank Trust Division purchased a new position in shares of The Baldwin Insurance Group during the 1st quarter valued at about $202,000. Janney Montgomery Scott LLC bought a new position in shares of The Baldwin Insurance Group during the 1st quarter valued at approximately $207,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in The Baldwin Insurance Group in the 2nd quarter worth approximately $269,000. Hedge funds and other institutional investors own 70.42% of the company’s stock.

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.