Bank of New York Mellon Corp Reduces Stock Holdings in Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Bank of New York Mellon Corp lessened its position in Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 836,946 shares of the company's stock after selling 119,989 shares during the period. Bank of New York Mellon Corp owned about 0.71% of Baldwin Insurance Group worth $37,403,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BWIN. TD Waterhouse Canada Inc. bought a new position in Baldwin Insurance Group during the fourth quarter valued at approximately $36,000. Premier Fund Managers Ltd bought a new position in Baldwin Insurance Group during the fourth quarter valued at approximately $44,000. Johnson Financial Group Inc. bought a new position in Baldwin Insurance Group during the fourth quarter valued at approximately $63,000. Continuum Advisory LLC bought a new position in Baldwin Insurance Group during the fourth quarter valued at approximately $75,000. Finally, State of Wyoming bought a new position in Baldwin Insurance Group during the fourth quarter valued at approximately $82,000. Institutional investors own 77.49% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BWIN. Wells Fargo & Company upped their target price on shares of Baldwin Insurance Group from $34.00 to $36.00 and gave the company an "underweight" rating in a report on Thursday, July 10th. Wall Street Zen cut shares of Baldwin Insurance Group from a "hold" rating to a "sell" rating in a report on Monday, July 7th. BMO Capital Markets reduced their target price on shares of Baldwin Insurance Group from $51.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, June 13th. Jefferies Financial Group upped their target price on shares of Baldwin Insurance Group from $41.00 to $42.00 and gave the company a "hold" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $45.00 target price (up from $39.00) on shares of Baldwin Insurance Group in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $45.17.

Baldwin Insurance Group Stock Up 3.6%

NASDAQ BWIN traded up $1.50 during trading on Wednesday, reaching $42.66. 739,914 shares of the company's stock traded hands, compared to its average volume of 605,948. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of -82.04, a price-to-earnings-growth ratio of 1.59 and a beta of 1.64. The company's 50 day simple moving average is $39.76 and its two-hundred day simple moving average is $40.59. Baldwin Insurance Group, Inc. has a 12-month low of $34.22 and a 12-month high of $55.82.

Insider Activity at Baldwin Insurance Group

In related news, General Counsel Seth Bala Cohen sold 4,496 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $39.58, for a total value of $177,951.68. Following the completion of the transaction, the general counsel directly owned 13,240 shares in the company, valued at $524,039.20. The trade was a 25.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lowry Baldwin sold 50,000 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $38.98, for a total transaction of $1,949,000.00. The disclosure for this sale can be found here. Insiders have sold 451,380 shares of company stock valued at $17,731,131 over the last 90 days. Company insiders own 18.51% of the company's stock.

Baldwin Insurance Group Company 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.