The Baldwin Insurance Group (NASDAQ:BRP) Hits New 52-Week High at $36.33

The Baldwin Insurance Group, Inc. (NASDAQ:BRP) shares hit a new 52-week high during trading on Monday . The company traded as high as $36.33 and last traded at $36.29, with a volume of 466261 shares changing hands. The stock had previously closed at $35.47.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BRP shares. UBS Group upped their price target on shares of 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. JPMorgan Chase & Co. raised shares of The Baldwin Insurance Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $27.00 to $33.00 in a research report on Monday, April 8th. Wells Fargo & Company cut their price objective on shares of The Baldwin Insurance Group from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods upped 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 report on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $34.00.

The Baldwin Insurance Group Stock Performance

The company’s 50 day moving average price is $32.29 and its 200-day moving average price is $28.34. 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 company has a market cap of $4.25 billion, a PE ratio of -39.45, a price-to-earnings-growth ratio of 0.91 and a beta of 1.54.

Insider Buying and Selling

In other The Baldwin Insurance Group news, insider James Morgan Roche sold 5,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $30.61, for a total value of $153,050.00. Following the completion of the transaction, the insider now directly owns 233,499 shares of the company’s stock, valued at approximately $7,147,404.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider James Morgan Roche sold 5,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $30.61, for a total transaction of $153,050.00. Following the sale, the insider now owns 233,499 shares in the company, valued at approximately $7,147,404.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Seth Bala Cohen sold 10,834 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $30.03, for a total transaction of $325,345.02. Following the sale, the general counsel now owns 13,813 shares in the company, valued at approximately $414,804.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,874 shares of company stock valued at $510,385. Company insiders own 22.65% of the company’s stock.

Hedge Funds Weigh In On The Baldwin Insurance Group

A number of large investors have recently added to or reduced their stakes in the business. Moody National Bank Trust Division raised its position in The Baldwin Insurance Group by 6.3% in the 2nd quarter. Moody National Bank Trust Division now owns 7,420 shares of the company’s stock worth $263,000 after purchasing an additional 440 shares during the period. Confluence Investment Management LLC increased its position in shares of 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 during the period. Janney Montgomery Scott LLC purchased a new position in shares of The Baldwin Insurance Group in the first quarter valued at about $207,000. HB Wealth Management LLC increased its position in shares of The Baldwin Insurance Group by 43.2% in the first quarter. HB Wealth Management LLC now owns 63,667 shares of the company’s stock valued at $1,843,000 after acquiring an additional 19,204 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of The Baldwin Insurance Group in the first quarter valued at about $1,298,000. 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.