The Baldwin Insurance Group (NASDAQ:BRP) Reaches New 12-Month High at $34.52

Shares of The Baldwin Insurance Group, Inc. (NASDAQ:BRP) reached a new 52-week high on Tuesday . The company traded as high as $34.52 and last traded at $34.08, with a volume of 293167 shares traded. The stock had previously closed at $34.42.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BRP shares. Bank of America decreased their price target on The Baldwin Insurance Group from $44.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Wells Fargo & Company decreased their price target 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. Keefe, Bruyette & Woods increased their price target on The Baldwin Insurance Group from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. raised The Baldwin Insurance Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $27.00 to $33.00 in a report on Monday, April 8th. Finally, UBS Group increased their price target on The Baldwin Insurance Group from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $34.00.

The Baldwin Insurance Group Trading Down 1.0 %

The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $4.01 billion, a PE ratio of -37.04, a PEG ratio of 0.91 and a beta of 1.54. The business has a 50-day moving average of $30.32 and a 200 day moving average of $26.74.

Insider Activity

In other news, insider Daniel Galbraith sold 1,040 shares of The Baldwin Insurance Group stock in a transaction dated 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 directly owns 31,126 shares of the company’s stock, valued at approximately $957,435.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Daniel Galbraith sold 1,040 shares of The Baldwin Insurance Group stock in a transaction dated 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 directly owns 31,126 shares of the company’s stock, valued at approximately $957,435.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Seth Bala Cohen sold 1,033 shares of The Baldwin Insurance Group stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $29.04, for a total value of $29,998.32. Following the completion of the transaction, the general counsel now directly owns 10,657 shares in the company, valued at $309,479.28. The disclosure for this sale can be found here. Insiders have sold 17,907 shares of company stock valued at $540,384 in the last three months. Corporate insiders own 22.65% of the company’s stock.

Hedge Funds Weigh In On The Baldwin Insurance Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in shares of The Baldwin Insurance Group by 51.2% in the 3rd quarter. FMR LLC now owns 8,674,940 shares of the company’s stock valued at $201,519,000 after purchasing an additional 2,938,558 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of The Baldwin Insurance Group by 73.0% in the 4th quarter. Westwood Holdings Group Inc. now owns 3,015,270 shares of the company’s stock valued at $72,427,000 after acquiring an additional 1,272,353 shares during the last quarter. Boston Partners bought a new stake in shares of The Baldwin Insurance Group in the 4th quarter valued at approximately $30,586,000. Peregrine Capital Management LLC increased its holdings in shares of The Baldwin Insurance Group by 56.2% in the 4th quarter. Peregrine Capital Management LLC now owns 916,920 shares of the company’s stock valued at $22,024,000 after acquiring an additional 329,998 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of The Baldwin Insurance Group by 19.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 988,830 shares of the company’s stock valued at $23,753,000 after acquiring an additional 162,347 shares during the last quarter. 70.42% of the stock is owned by institutional investors and hedge funds.

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.