HB Wealth Management LLC Raises Position in Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Key Points

• HB Wealth Management LLC increased its stake in Baldwin Insurance Group by 32.2% in the first quarter, acquiring an additional 20,488 shares, bringing its total holdings to 84,155 shares valued at approximately $3.76 million.
• Insider transactions included significant sales by CEO Trevor Baldwin and Director Lowry Baldwin, with a combined total of over $7 million in shares sold within a short timeframe.
• Baldwin Insurance Group's stock has seen a recent price target adjustment from several analysts, with a consensus target price of $45.17 reflecting a mix of ratings from "sell" to "buy".

HB Wealth Management LLC boosted its stake in shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) by 32.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,155 shares of the company's stock after acquiring an additional 20,488 shares during the quarter. HB Wealth Management LLC owned about 0.07% of Baldwin Insurance Group worth $3,761,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Madison Asset Management LLC increased its stake in Baldwin Insurance Group by 14.1% during the first quarter. Madison Asset Management LLC now owns 93,024 shares of the company's stock worth $4,157,000 after acquiring an additional 11,483 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Baldwin Insurance Group during the first quarter worth approximately $2,608,000. Verdence Capital Advisors LLC increased its stake in Baldwin Insurance Group by 32.2% during the first quarter. Verdence Capital Advisors LLC now owns 7,326 shares of the company's stock worth $327,000 after acquiring an additional 1,785 shares during the last quarter. Xponance Inc. bought a new stake in Baldwin Insurance Group during the first quarter worth approximately $224,000. Finally, Washington Trust Bank bought a new stake in Baldwin Insurance Group during the first quarter worth approximately $777,000. 77.49% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Baldwin Insurance Group news, insider James Morgan Roche sold 26,679 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $40.07, for a total transaction of $1,069,027.53. Following the completion of the sale, the insider owned 42,113 shares in the company, valued at $1,687,467.91. This represents a 38.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Trevor Baldwin sold 117,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $39.83, for a total value of $4,660,110.00. Following the sale, the chief executive officer owned 27,676 shares of the company's stock, valued at approximately $1,102,335.08. This represents a 80.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 451,380 shares of company stock valued at $17,731,131 over the last quarter. 18.51% of the stock is owned by corporate insiders.

Baldwin Insurance Group Trading Up 0.1%

NASDAQ:BWIN traded up $0.06 during midday trading on Thursday, hitting $36.85. The stock had a trading volume of 279,904 shares, compared to its average volume of 614,894. Baldwin Insurance Group, Inc. has a one year low of $34.22 and a one year high of $55.82. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of -70.86, a PEG ratio of 1.45 and a beta of 1.64. The stock has a 50-day moving average of $40.03 and a 200 day moving average of $40.78. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.43.

Analyst Ratings Changes

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

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.