Cornerstone Wealth Group LLC Acquires Shares of 16,888 The Baldwin Insurance Group, Inc. (NASDAQ:BRP)

Cornerstone Wealth Group LLC acquired a new stake in The Baldwin Insurance Group, Inc. (NASDAQ:BRP) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,888 shares of the company’s stock, valued at approximately $489,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRP. Westwood Holdings Group Inc. increased its holdings in The Baldwin Insurance Group by 73.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,015,270 shares of the company’s stock valued at $72,427,000 after buying an additional 1,272,353 shares in the last quarter. Boston Partners purchased a new position in The Baldwin Insurance Group in the fourth quarter valued at $30,586,000. Peregrine Capital Management LLC increased its holdings in The Baldwin Insurance Group by 56.2% in the fourth quarter. Peregrine Capital Management LLC now owns 916,920 shares of the company’s stock valued at $22,024,000 after buying an additional 329,998 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in The Baldwin Insurance Group by 19.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 988,830 shares of the company’s stock valued at $23,753,000 after buying an additional 162,347 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in The Baldwin Insurance Group by 209.4% in the third quarter. Envestnet Asset Management Inc. now owns 206,391 shares of the company’s stock valued at $4,794,000 after buying an additional 139,684 shares in the last quarter. Hedge funds and other institutional investors own 70.42% of the company’s stock.

The Baldwin Insurance Group Stock Up 0.5 %

Shares of NASDAQ BRP opened at $32.66 on Monday. The Baldwin Insurance Group, Inc. has a 12-month low of $17.33 and a 12-month high of $33.03. The stock has a market cap of $3.84 billion, a PE ratio of -38.55, a P/E/G ratio of 0.91 and a beta of 1.54. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The company has a 50-day moving average of $31.95 and a 200 day moving average of $28.13.

Insider Activity at The Baldwin Insurance Group

In other The Baldwin Insurance Group news, insider Daniel Galbraith sold 1,040 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $30.76, for a total value of $31,990.40. Following the transaction, the insider now directly owns 31,126 shares in the company, valued at approximately $957,435.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other The Baldwin Insurance Group news, insider Daniel Galbraith sold 1,040 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $30.76, for a total value of $31,990.40. Following the transaction, the insider now directly owns 31,126 shares in the company, valued at approximately $957,435.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Seth Bala Cohen sold 10,834 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $30.03, for a total transaction of $325,345.02. Following the completion of the transaction, the general counsel now owns 13,813 shares in the company, valued at $414,804.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,874 shares of company stock valued at $510,385. Corporate insiders own 22.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BRP shares. JPMorgan Chase & Co. raised shares of The Baldwin Insurance Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $27.00 to $33.00 in a research note on Monday, April 8th. Keefe, Bruyette & Woods boosted their target price on shares of The Baldwin Insurance Group from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. UBS Group boosted their target price on shares of The Baldwin Insurance Group from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Finally, Wells Fargo & Company cut their target price on shares of The Baldwin Insurance Group from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, The Baldwin Insurance Group currently has an average rating of “Buy” and a consensus price target of $34.00.

The Baldwin Insurance Group Company Profile

BRP 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. The Insurance Advisory Solutions segment provides commercial risk management, employee benefits, and private risk management solutions for businesses and high-net-worth individuals, as well as their families.