Vanguard Group Inc. Increases Holdings in The Baldwin Insurance Group, Inc. (NASDAQ:BRP)

Vanguard Group Inc. increased its stake in The Baldwin Insurance Group, Inc. (NASDAQ:BRP) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,107,277 shares of the company’s stock after acquiring an additional 111,662 shares during the period. Vanguard Group Inc. owned approximately 0.05% of The Baldwin Insurance Group worth $146,697,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust purchased a new stake in shares of The Baldwin Insurance Group in the fourth quarter valued at $25,000. Victory Capital Management Inc. bought a new position in The Baldwin Insurance Group during the 4th quarter valued at about $206,000. Altfest L J & Co. Inc. purchased a new stake in The Baldwin Insurance Group in the 4th quarter worth about $244,000. Trust Point Inc. bought a new stake in The Baldwin Insurance Group in the fourth quarter worth about $305,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of The Baldwin Insurance Group by 29.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,438 shares of the company’s stock valued at $347,000 after buying an additional 3,278 shares during the period. 70.42% of the stock is owned by institutional investors.

The Baldwin Insurance Group Stock Performance

BRP stock opened at $35.80 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.90. The Baldwin Insurance Group, Inc. has a 1-year low of $17.33 and a 1-year high of $33.03. The business has a 50-day moving average price of $32.65 and a 200 day moving average price of $28.52. The company has a market capitalization of $4.21 billion, a P/E ratio of -38.91, a PEG ratio of 0.91 and a beta of 1.54.

Insider Activity

In other news, General Counsel Seth Bala Cohen sold 10,834 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $30.03, for a total transaction of $325,345.02. Following the transaction, the general counsel now directly owns 13,813 shares in the company, valued at $414,804.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, General Counsel Seth Bala Cohen sold 10,834 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $30.03, for a total transaction of $325,345.02. Following the sale, the general counsel now owns 13,813 shares of the company’s stock, valued at $414,804.39. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Galbraith sold 1,040 shares of The Baldwin Insurance Group 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 completion of the transaction, the insider now owns 31,126 shares in the company, valued at approximately $957,435.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,874 shares of company stock worth $510,385. 22.65% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded The Baldwin Insurance Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $27.00 to $33.00 in a report on Monday, April 8th. UBS Group lifted their target price on The Baldwin Insurance Group from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Keefe, Bruyette & Woods upped their price target on shares of The Baldwin Insurance Group from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company decreased their price objective on shares of The Baldwin Insurance Group from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $34.00.

The Baldwin Insurance Group 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.