Janney Montgomery Scott LLC Buys New Shares in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Janney Montgomery Scott LLC acquired a new stake in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) in the fourth quarter, Holdings Channel reports. The fund acquired 6,944 shares of the company’s stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lord Abbett & CO. LLC purchased a new stake in shares of The Baldwin Insurance Group in the third quarter worth approximately $29,447,000. JPMorgan Chase & Co. raised its stake in shares of The Baldwin Insurance Group by 1,946.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,235,868 shares of the company’s stock worth $61,546,000 after purchasing an additional 1,175,484 shares during the period. Peapack Gladstone Financial Corp purchased a new position in shares of The Baldwin Insurance Group in the 3rd quarter worth about $263,000. Confluence Investment Management LLC bought a new position in The Baldwin Insurance Group during the fourth quarter valued at about $16,747,000. Finally, Diversified Trust Co purchased a new stake in The Baldwin Insurance Group during the fourth quarter worth about $788,000. Institutional investors own 77.49% of the company’s stock.

The Baldwin Insurance Group Stock Down 2.8 %

The Baldwin Insurance Group stock opened at $40.47 on Wednesday. The firm has a 50 day simple moving average of $40.63 and a 200 day simple moving average of $44.77. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.35. The Baldwin Insurance Group, Inc. has a 1-year low of $23.56 and a 1-year high of $55.82. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -63.23, a P/E/G ratio of 1.19 and a beta of 1.63.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of The Baldwin Insurance Group from $50.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. reduced their price objective on The Baldwin Insurance Group from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company decreased their target price on The Baldwin Insurance Group from $41.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Finally, William Blair raised The Baldwin Insurance Group from a “market perform” rating to an “outperform” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

Insider Transactions at The Baldwin Insurance Group

In related news, major shareholder Elizabeth Krystyn sold 88,306 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $43.05, for a total transaction of $3,801,573.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 20.14% of the company’s stock.

The 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.