The Baldwin Insurance Group (NASDAQ:BRP) Reaches New 52-Week High at $32.00

The Baldwin Insurance Group, Inc. (NASDAQ:BRP) shares hit a new 52-week high on Wednesday . The stock traded as high as $32.00 and last traded at $31.63, with a volume of 252096 shares trading hands. The stock had previously closed at $28.03.

Wall Street Analysts Forecast Growth

BRP has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on shares of The Baldwin Insurance Group from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. JPMorgan Chase & Co. upgraded shares of The Baldwin Insurance Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $27.00 to $33.00 in a research report on Monday, April 8th. Keefe, Bruyette & Woods raised their price objective on 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. Finally, Bank of America dropped their price objective on shares of The Baldwin Insurance Group from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, The Baldwin Insurance Group presently has a consensus rating of “Buy” and an average price target of $33.40.

The Baldwin Insurance Group Stock Performance

The business has a 50 day moving average of $28.31 and a 200-day moving average of $24.61. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $3.66 billion, a P/E ratio of -20.98, a price-to-earnings-growth ratio of 0.83 and a beta of 1.54.

The Baldwin Insurance Group (NASDAQ:BRP) last posted its earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $284.65 million for the quarter, compared to analyst estimates of $282.00 million. The Baldwin Insurance Group had a negative net margin of 7.40% and a positive return on equity of 7.61%. On average, sell-side analysts predict that The Baldwin Insurance Group, Inc. will post 1.05 EPS for the current fiscal year.

Insider Buying and Selling at The Baldwin Insurance Group

In other news, General Counsel Seth Bala Cohen sold 1,033 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $29.04, for a total transaction of $29,998.32. Following the transaction, the general counsel now directly owns 10,657 shares of the company’s stock, valued at $309,479.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Seth Bala Cohen sold 1,033 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $29.04, for a total value of $29,998.32. Following the completion of the transaction, the general counsel now directly owns 10,657 shares of the company’s stock, valued at $309,479.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lowry Baldwin sold 62,629 shares of The Baldwin Insurance Group stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $28.94, for a total value of $1,812,483.26. Following the sale, the director now directly owns 37,371 shares in the company, valued at $1,081,516.74. The disclosure for this sale can be found here. Company insiders own 22.65% of the company’s stock.

Institutional Investors Weigh In On The Baldwin Insurance Group

A number of large investors have recently added to or reduced their stakes in BRP. Parkside Financial Bank & Trust bought a new stake in shares of The Baldwin Insurance Group during the fourth quarter valued at approximately $25,000. Quantbot Technologies LP purchased a new position in The Baldwin Insurance Group during the 3rd quarter worth $64,000. Moody National Bank Trust Division bought a new position in shares of The Baldwin Insurance Group during the first quarter valued at approximately $202,000. Verdence Capital Advisors LLC purchased a new position in The Baldwin Insurance Group in the first quarter valued at about $203,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of The Baldwin Insurance Group during the 4th quarter valued at $206,000. Institutional investors own 70.42% of the company’s stock.

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.