Baldwin Insurance Group, Inc. (NASDAQ:BWIN) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank has increased its stake in Baldwin Insurance Group by 70.5%, owning 31,439 shares valued at approximately $1.4 million as of the end of the most recent quarter.
• Institutional investors collectively own 77.49% of Baldwin Insurance Group, with several large firms, including FMR LLC and Bamco Inc., also purchasing significant stakes.
• Analyst ratings for Baldwin Insurance Group vary, with an average recommendation of "Hold" and price targets ranging from $36.00 to $51.00 among different research firms.

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) by 70.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,439 shares of the company's stock after purchasing an additional 13,000 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Baldwin Insurance Group were worth $1,405,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BWIN. Nuveen Asset Management LLC purchased a new position in Baldwin Insurance Group in the 4th quarter worth approximately $10,381,000. Bamco Inc. NY purchased a new stake in Baldwin Insurance Group in the fourth quarter worth approximately $116,668,000. KBC Group NV grew its position in Baldwin Insurance Group by 12.1% during the first quarter. KBC Group NV now owns 3,675 shares of the company's stock valued at $164,000 after acquiring an additional 396 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Baldwin Insurance Group by 10,061.5% in the 1st quarter. GAMMA Investing LLC now owns 18,189 shares of the company's stock worth $813,000 after acquiring an additional 18,010 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Baldwin Insurance Group by 36.4% in the 1st quarter. Bessemer Group Inc. now owns 43,065 shares of the company's stock valued at $1,924,000 after purchasing an additional 11,485 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors.

Baldwin Insurance Group Stock Performance

Shares of NASDAQ:BWIN traded down $6.07 during midday trading on Wednesday, hitting $30.39. The company had a trading volume of 2,787,680 shares, compared to its average volume of 600,852. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 1.42 and a beta of 1.66. 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 company has a fifty day moving average of $39.71 and a two-hundred day moving average of $40.64. Baldwin Insurance Group, Inc. has a 12-month low of $29.99 and a 12-month high of $55.82.

Insider Buying and Selling at Baldwin Insurance Group

In related news, Director Lowry Baldwin sold 62,500 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $38.32, for a total value of $2,395,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Trevor Baldwin sold 117,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were 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 in the company, valued at approximately $1,102,335.08. This trade represents a 80.87% decrease in their ownership of the stock. 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. 18.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BWIN has been the topic of a number of recent research reports. 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. Jefferies Financial Group raised their price target on shares of Baldwin Insurance Group from $41.00 to $42.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Wells Fargo & Company increased their target price on shares of Baldwin Insurance Group from $34.00 to $36.00 and gave the stock an "underweight" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. restated a "neutral" rating and set a $45.00 target price (up previously from $39.00) on shares of Baldwin Insurance Group in a report on Tuesday, April 8th. Finally, Wall Street Zen cut shares of Baldwin Insurance Group from a "hold" rating to a "sell" rating in a research report on Monday, July 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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.