Raymond James Financial Inc. Takes $1.51 Million Position in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Raymond James Financial Inc. bought a new stake in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 39,021 shares of the company's stock, valued at approximately $1,512,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lord Abbett & CO. LLC bought a new stake in The Baldwin Insurance Group in the third quarter valued at approximately $29,447,000. JPMorgan Chase & Co. raised its position in shares of The Baldwin Insurance Group by 1,946.7% in the third quarter. JPMorgan Chase & Co. now owns 1,235,868 shares of the company's stock valued at $61,546,000 after purchasing an additional 1,175,484 shares during the period. Peapack Gladstone Financial Corp bought a new position in shares of The Baldwin Insurance Group in the third quarter valued at about $263,000. Diversified Trust Co acquired a new stake in shares of The Baldwin Insurance Group during the 4th quarter worth about $788,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in The Baldwin Insurance Group in the 4th quarter valued at about $5,115,000. 77.49% of the stock is owned by institutional investors.

The Baldwin Insurance Group Price Performance

Shares of The Baldwin Insurance Group stock traded down $0.28 during midday trading on Thursday, hitting $38.91. 51,955 shares of the company traded hands, compared to its average volume of 577,551. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of -60.80, a PEG ratio of 1.17 and a beta of 1.77. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.98 and a current ratio of 0.98. The firm's fifty day moving average price is $41.98 and its 200-day moving average price is $42.55. The Baldwin Insurance Group, Inc. has a 12 month low of $29.19 and a 12 month high of $55.82.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods decreased their target price on The Baldwin Insurance Group from $50.00 to $49.00 and set an "outperform" rating on the stock in a research report on Friday, January 10th. BMO Capital Markets started coverage on The Baldwin Insurance Group in a report on Thursday, March 27th. They set an "outperform" rating and a $53.00 target price for the company. JPMorgan Chase & Co. restated a "neutral" rating and issued a $45.00 price target (up from $39.00) on shares of The Baldwin Insurance Group in a research note on Tuesday, April 8th. Jefferies Financial Group lifted their price objective on shares of The Baldwin Insurance Group from $41.00 to $42.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company increased their target price on shares of The Baldwin Insurance Group from $33.00 to $34.00 and gave the stock an "underweight" rating in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.29.

Insiders Place Their Bets

In related news, CEO Trevor Baldwin sold 15,902 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $39.33, for a total value of $625,425.66. Following the completion of the transaction, the chief executive officer now owns 13,302 shares in the company, valued at $523,167.66. This trade represents a 54.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lowry Baldwin sold 34,901 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $40.22, for a total transaction of $1,403,718.22. Following the completion of the transaction, the director now owns 90,099 shares of the company's stock, valued at approximately $3,623,781.78. This trade represents a 27.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,836 shares of company stock valued at $5,330,639. 20.14% of the stock is currently owned by insiders.

The Baldwin Insurance Group 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.