HighTower Advisors LLC Takes Position in Baldwin Insurance Group, Inc. $BWIN

Key Points

• HighTower Advisors LLC purchased 41,609 shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN) in the first quarter, valued at around $1.86 million.
• As of now, approximately 77.49% of Baldwin Insurance Group's stock is held by hedge funds and institutional investors, indicating strong institutional interest.
• Baldwin Insurance Group reported a quarterly EPS of $0.42, matching analysts' expectations, with revenue increasing by 11.5% year-over-year to $378.81 million.

HighTower Advisors LLC purchased a new stake in Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 41,609 shares of the company's stock, valued at approximately $1,860,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. KBC Group NV boosted its holdings in Baldwin Insurance Group by 12.1% in the first quarter. KBC Group NV now owns 3,675 shares of the company's stock valued at $164,000 after purchasing an additional 396 shares in the last quarter. US Bancorp DE boosted its holdings in Baldwin Insurance Group by 6.5% in the first quarter. US Bancorp DE now owns 7,337 shares of the company's stock valued at $328,000 after purchasing an additional 450 shares in the last quarter. Toth Financial Advisory Corp boosted its holdings in Baldwin Insurance Group by 3.3% in the first quarter. Toth Financial Advisory Corp now owns 17,335 shares of the company's stock valued at $775,000 after purchasing an additional 550 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Baldwin Insurance Group by 5.7% in the first quarter. PNC Financial Services Group Inc. now owns 13,025 shares of the company's stock valued at $582,000 after purchasing an additional 700 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Baldwin Insurance Group by 0.7% in the first quarter. Envestnet Asset Management Inc. now owns 109,566 shares of the company's stock valued at $4,897,000 after purchasing an additional 742 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, General Counsel Seth Bala Cohen sold 4,496 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $39.58, for a total transaction of $177,951.68. Following the completion of the sale, the general counsel directly owned 13,240 shares of the company's stock, valued at $524,039.20. This represents a 25.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Bradford Hale bought 10,000 shares of Baldwin Insurance Group stock in a transaction dated Thursday, August 7th. The shares were bought at an average cost of $28.72 per share, with a total value of $287,200.00. Following the completion of the acquisition, the chief financial officer owned 144,659 shares of the company's stock, valued at $4,154,606.48. The trade was a 7.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 274,211 shares of company stock valued at $10,810,267. Company insiders own 18.51% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BWIN shares. Raymond James Financial reissued an "outperform" rating and issued a $40.00 price objective (down from $48.00) on shares of Baldwin Insurance Group in a report on Thursday, August 7th. Wall Street Zen downgraded Baldwin Insurance Group from a "hold" rating to a "sell" rating in a report on Monday, July 7th. Wells Fargo & Company increased their price objective on Baldwin Insurance Group from $34.00 to $36.00 and gave the company an "underweight" rating in a report on Thursday, July 10th. Zacks Research upgraded Baldwin Insurance Group to a "strong sell" rating in a research note on Tuesday, August 12th. Finally, BMO Capital Markets cut their price target on Baldwin Insurance Group from $51.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, June 13th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $43.67.

Baldwin Insurance Group Stock Up 0.2%

Shares of NASDAQ:BWIN traded up $0.06 during mid-day trading on Friday, hitting $31.67. 676,866 shares of the company traded hands, compared to its average volume of 1,088,475. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.23 and a current ratio of 1.23. Baldwin Insurance Group, Inc. has a 52-week low of $28.66 and a 52-week high of $55.82. The firm's 50 day simple moving average is $37.59 and its 200 day simple moving average is $39.64. The firm has a market cap of $3.76 billion, a P/E ratio of -109.21, a PEG ratio of 1.42 and a beta of 1.66.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $378.81 million for the quarter, compared to the consensus estimate of $375.38 million. Baldwin Insurance Group had a positive return on equity of 13.24% and a negative net margin of 1.22%.Baldwin Insurance Group's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. On average, equities analysts anticipate that Baldwin Insurance Group, Inc. will post 1.01 EPS for the current year.

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.