Comerica Bank Takes $2.30 Million Position in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Comerica Bank acquired a new position in shares of The Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,349 shares of the company's stock, valued at approximately $2,300,000. Comerica Bank owned approximately 0.05% of The Baldwin Insurance Group at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BWIN. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of The Baldwin Insurance Group during the 4th quarter worth about $5,115,000. Emerald Advisers LLC bought a new stake in The Baldwin Insurance Group during the fourth quarter worth about $33,608,000. Diversified Trust Co acquired a new stake in shares of The Baldwin Insurance Group during the fourth quarter worth approximately $788,000. Principal Financial Group Inc. bought a new position in shares of The Baldwin Insurance Group in the fourth quarter valued at approximately $2,320,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of The Baldwin Insurance Group in the 4th quarter worth approximately $2,000,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

The Baldwin Insurance Group Trading Down 1.6 %

NASDAQ BWIN traded down $0.62 during trading hours on Friday, hitting $38.77. The company's stock had a trading volume of 391,984 shares, compared to its average volume of 559,860. The Baldwin Insurance Group, Inc. has a twelve month low of $31.47 and a twelve month high of $55.82. The firm has a market capitalization of $4.56 billion, a P/E ratio of -60.58, a PEG ratio of 1.17 and a beta of 1.77. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.35. The stock has a fifty day moving average of $41.95 and a 200 day moving average of $42.29.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BWIN shares. Jefferies Financial Group lifted their price objective on The Baldwin Insurance Group from $41.00 to $42.00 and gave the company a "hold" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $45.00 price objective (up previously from $39.00) on shares of The Baldwin Insurance Group in a report on Tuesday, April 8th. Wells Fargo & Company raised their price objective on shares of The Baldwin Insurance Group from $33.00 to $34.00 and gave the company an "underweight" rating in a research report on Thursday, April 10th. Finally, BMO Capital Markets began coverage on shares of The Baldwin Insurance Group in a research report on Thursday, March 27th. They set an "outperform" rating and a $53.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $45.29.

Insider Activity

In related news, CEO Trevor Baldwin sold 15,902 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $39.33, for a total value of $625,425.66. Following the completion of the sale, the chief executive officer now owns 13,302 shares in the company, valued at approximately $523,167.66. This represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lowry Baldwin sold 34,901 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $40.22, for a total value of $1,403,718.22. Following the transaction, the director now owns 90,099 shares in the company, valued at approximately $3,623,781.78. This trade represents a 27.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,836 shares of company stock valued at $5,330,639 in the last 90 days. 18.51% of the stock is owned by company insiders.

The Baldwin Insurance Group Profile

The Baldwin Insurance 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.