Millennium Management LLC Takes Position in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Millennium Management LLC purchased a new position in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 53,980 shares of the company's stock, valued at approximately $2,092,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BWIN. Elevation Wealth Partners LLC purchased a new stake in shares of The Baldwin Insurance Group in the fourth quarter worth $32,000. TD Waterhouse Canada Inc. purchased a new stake in shares of The Baldwin Insurance Group in the fourth quarter worth $36,000. Assetmark Inc. purchased a new stake in shares of The Baldwin Insurance Group in the fourth quarter worth $38,000. Premier Fund Managers Ltd purchased a new stake in shares of The Baldwin Insurance Group in the fourth quarter worth $44,000. Finally, First Horizon Advisors Inc. purchased a new position in The Baldwin Insurance Group during the fourth quarter valued at $55,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

The Baldwin Insurance Group Stock Down 1.8%

Shares of The Baldwin Insurance Group stock traded down $0.69 on Thursday, reaching $38.05. The stock had a trading volume of 287,040 shares, compared to its average volume of 558,481. The company has a 50 day moving average price of $40.75 and a 200 day moving average price of $41.34. 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 Baldwin Insurance Group, Inc. has a 1 year low of $31.47 and a 1 year high of $55.82. The stock has a market capitalization of $4.51 billion, a P/E ratio of -59.45, a P/E/G ratio of 1.17 and a beta of 1.65.

Analysts Set New Price Targets

Several research firms recently weighed in on BWIN. BMO Capital Markets began coverage on shares of The Baldwin Insurance Group in a research note on Thursday, March 27th. They set an "outperform" rating and a $53.00 target price for the company. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $45.00 target price (up from $39.00) on shares of The Baldwin Insurance Group in a research note on Tuesday, April 8th. Wells Fargo & Company raised their target price on shares of The Baldwin Insurance Group from $33.00 to $34.00 and gave the company an "underweight" rating in a research note on Thursday, April 10th. Finally, Jefferies Financial Group raised their target price on shares of The Baldwin Insurance Group from $41.00 to $42.00 and gave the company a "hold" rating in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, The Baldwin Insurance Group currently has a consensus rating of "Hold" and a consensus price target of $45.33.

Insiders Place Their Bets

In other The Baldwin Insurance Group news, CEO Trevor Baldwin sold 15,902 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $39.33, for a total transaction of $625,425.66. Following the completion of the transaction, the chief executive officer now directly 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 legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the general counsel now owns 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 266,307 shares of company stock valued at $10,515,085. Insiders own 18.51% of the company's stock.

About The Baldwin Insurance Group

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.