Smith Chas P & Associates PA Cpas Sells 12,080 Shares of Baldwin Insurance Group, Inc. $BWIN

Key Points

• Smith Chas P & Associates PA Cpas reduced its stake in Baldwin Insurance Group by 17.4%, selling 12,080 shares and now holding 57,260 shares worth approximately $2.45 million.
• Institutional investors and hedge funds own 77.49% of Baldwin Insurance Group's stock, with notable increases in holdings from several firms during the second quarter.
• Analysts have varied opinions on Baldwin Insurance Group, with a consensus rating of "Hold" and an average target price of $43.67.

Smith Chas P & Associates PA Cpas lowered its stake in Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) by 17.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,260 shares of the company's stock after selling 12,080 shares during the period. Smith Chas P & Associates PA Cpas' holdings in Baldwin Insurance Group were worth $2,451,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its stake in shares of Baldwin Insurance Group by 9.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 62,011 shares of the company's stock valued at $2,655,000 after acquiring an additional 5,368 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in Baldwin Insurance Group during the 2nd quarter worth approximately $227,000. Diversified Trust Co grew its holdings in Baldwin Insurance Group by 14.9% during the 2nd quarter. Diversified Trust Co now owns 31,651 shares of the company's stock worth $1,355,000 after acquiring an additional 4,109 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Baldwin Insurance Group by 50.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 164,778 shares of the company's stock valued at $6,662,000 after acquiring an additional 55,326 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Baldwin Insurance Group by 14.3% during the second quarter. Harbor Capital Advisors Inc. now owns 111,765 shares of the company's stock valued at $4,785,000 after acquiring an additional 13,987 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity at Baldwin Insurance Group

In other news, CFO Bradford Hale bought 10,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was acquired at an average cost of $28.72 per share, with a total value of $287,200.00. Following the transaction, the chief financial officer directly owned 144,659 shares of the company's stock, valued at approximately $4,154,606.48. This represents a 7.43% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.14% of the stock is currently owned by corporate insiders.

Baldwin Insurance Group Trading Up 0.2%

NASDAQ BWIN opened at $28.62 on Monday. Baldwin Insurance Group, Inc. has a one year low of $28.27 and a one year high of $55.82. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.23 and a quick ratio of 1.23. The business has a 50 day simple moving average of $33.27 and a 200 day simple moving average of $38.32. The stock has a market capitalization of $3.40 billion, a P/E ratio of -98.69, a P/E/G ratio of 1.28 and a beta of 1.43.

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

About 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.

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