Amalgamated Bank Makes New Investment in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Amalgamated Bank bought a new position in shares of The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) in the fourth quarter, Holdings Channel.com reports. The fund bought 2,080 shares of the company’s stock, valued at approximately $81,000.

A number of other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in The Baldwin Insurance Group by 1,946.7% during the third quarter. JPMorgan Chase & Co. now owns 1,235,868 shares of the company’s stock worth $61,546,000 after buying an additional 1,175,484 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of The Baldwin Insurance Group during the fourth quarter worth approximately $37,091,000. Lord Abbett & CO. LLC purchased a new position in The Baldwin Insurance Group in the 3rd quarter valued at $29,447,000. Tributary Capital Management LLC purchased a new position in The Baldwin Insurance Group in the 4th quarter valued at $18,287,000. Finally, Confluence Investment Management LLC acquired a new stake in The Baldwin Insurance Group in the fourth quarter valued at $16,747,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut their price target on The Baldwin Insurance Group from $50.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. reduced their price target on The Baldwin Insurance Group from $46.00 to $39.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company cut their target price on The Baldwin Insurance Group from $38.00 to $33.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.50.

The Baldwin Insurance Group Price Performance

Shares of BWIN opened at $40.92 on Thursday. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of -63.94, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63. 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 Baldwin Insurance Group, Inc. has a one year low of $26.08 and a one year high of $55.82. The stock’s fifty day moving average is $39.94 and its 200-day moving average is $44.55.

Insider Activity

In related news, major shareholder Elizabeth Krystyn sold 191,307 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $45.18, for a total value of $8,643,250.26. Following the completion of the transaction, the insider now owns 232,570 shares in the company, valued at $10,507,512.60. This trade represents a 45.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lowry Baldwin sold 34,901 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $40.22, for a total value of $1,403,718.22. Following the sale, the director now owns 90,099 shares of the company’s stock, valued at $3,623,781.78. The trade was a 27.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 326,807 shares of company stock valued at $14,359,193. Company insiders own 20.14% of the company’s stock.

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.