Envestnet Asset Management Inc. Buys New Shares in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Envestnet Asset Management Inc. acquired a new position in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 108,824 shares of the company's stock, valued at approximately $4,218,000. Envestnet Asset Management Inc. owned about 0.09% of The Baldwin Insurance Group as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC purchased a new stake in The Baldwin Insurance Group in the 4th quarter worth about $32,000. Nisa Investment Advisors LLC bought a new position in The Baldwin Insurance Group in the 4th quarter worth about $33,000. Assetmark Inc. bought a new position in The Baldwin Insurance Group in the 4th quarter worth about $38,000. Premier Fund Managers Ltd bought a new position in The Baldwin Insurance Group in the 4th quarter worth about $44,000. Finally, First Horizon Advisors Inc. bought a new position in The Baldwin Insurance Group in the 4th quarter worth about $55,000. Hedge funds and other institutional investors own 77.49% of the company's stock.

The Baldwin Insurance Group Price Performance

Shares of BWIN traded down $0.14 during trading hours on Tuesday, reaching $42.09. 683,485 shares of the company's stock traded hands, compared to its average volume of 558,285. The stock has a market cap of $4.95 billion, a PE ratio of -65.77, a price-to-earnings-growth ratio of 1.17 and a beta of 1.52. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.35. The firm's 50 day simple moving average is $41.88 and its 200-day simple moving average is $43.00. The Baldwin Insurance Group, Inc. has a 12 month low of $31.47 and a 12 month high of $55.82.

Insider Activity

In related news, Director Lowry Baldwin sold 34,901 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $40.22, for a total transaction of $1,403,718.22. Following the transaction, the director now owns 90,099 shares of the company's stock, valued at approximately $3,623,781.78. This trade represents a 27.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Trevor Baldwin sold 68,740 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $40.60, for a total transaction of $2,790,844.00. Following the transaction, the chief executive officer now directly owns 80,663 shares in the company, valued at approximately $3,274,917.80. This represents a 46.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 131,836 shares of company stock worth $5,330,639. 20.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on BWIN shares. BMO Capital Markets started coverage on The Baldwin Insurance Group in a research note on Thursday, March 27th. They issued an "outperform" rating and a $53.00 target price for the company. Keefe, Bruyette & Woods cut their target price on The Baldwin Insurance Group from $50.00 to $49.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $45.00 target price (up previously from $39.00) on shares of The Baldwin Insurance Group in a research note on Tuesday, April 8th. Jefferies Financial Group raised their target price on The Baldwin Insurance Group from $41.00 to $42.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company lifted their price target on 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, The Baldwin Insurance Group currently has an average rating of "Moderate Buy" and an average target price of $45.29.

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.