Envestnet Portfolio Solutions Inc. Makes New Investment in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Envestnet Portfolio Solutions Inc. bought a new stake in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,640 shares of the company’s stock, valued at approximately $296,000.

Other large investors have also recently made changes to their positions in the company. Elevation Wealth Partners LLC purchased a new stake in The Baldwin Insurance Group in the fourth quarter valued at approximately $32,000. Nisa Investment Advisors LLC purchased a new stake in The Baldwin Insurance Group in the 4th quarter valued at $33,000. Assetmark Inc. purchased a new stake in The Baldwin Insurance Group in the 4th quarter valued at $38,000. First Horizon Advisors Inc. acquired a new stake in The Baldwin Insurance Group during the 4th quarter worth $55,000. Finally, Parkside Financial Bank & Trust purchased a new position in The Baldwin Insurance Group during the 4th quarter worth $59,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Seth Bala Cohen sold 12,293 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $41.54, for a total value of $510,651.22. Following the completion of the transaction, the general counsel now owns 8,813 shares in the company, valued at $366,092.02. This trade represents a 58.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lowry Baldwin sold 34,901 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $40.22, for a total transaction of $1,403,718.22. Following the sale, the director now directly owns 90,099 shares in the company, valued at approximately $3,623,781.78. This represents a 27.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,836 shares of company stock worth $5,330,639. 20.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BWIN has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of The Baldwin Insurance Group from $38.00 to $33.00 and set an “underweight” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on The Baldwin Insurance Group from $46.00 to $39.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods lowered 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 note on Friday, January 10th. Finally, BMO Capital Markets assumed coverage on The Baldwin Insurance Group in a research note on Thursday. They set an “outperform” rating and a $53.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five 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 Baldwin Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $44.86.

The Baldwin Insurance Group Stock Performance

Shares of BWIN stock opened at $46.05 on Friday. 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 12-month low of $31.47 and a 12-month high of $55.82. The company has a market cap of $5.42 billion, a price-to-earnings ratio of -71.95, a price-to-earnings-growth ratio of 1.17 and a beta of 1.72. The stock has a 50 day simple moving average of $41.22 and a 200-day simple moving average of $44.18.

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.