Geode Capital Management LLC Invests $60.59 Million in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Geode Capital Management LLC bought a new stake in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 1,562,735 shares of the company’s stock, valued at approximately $60,586,000.

A number of other institutional investors have also added to or reduced their stakes in BWIN. Elevation Wealth Partners LLC acquired a new stake in The Baldwin Insurance Group in the fourth quarter valued at approximately $32,000. Nisa Investment Advisors LLC acquired a new stake in The Baldwin Insurance Group in the 4th quarter valued at $33,000. Assetmark Inc. bought a new stake in The Baldwin Insurance Group during the 4th quarter valued at $38,000. Premier Fund Managers Ltd acquired a new position in The Baldwin Insurance Group during the fourth quarter worth $44,000. Finally, First Horizon Advisors Inc. bought a new position in shares of The Baldwin Insurance Group in the fourth quarter valued at $55,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets began coverage on shares of The Baldwin Insurance Group in a report on Thursday, March 27th. They issued an “outperform” rating and a $53.00 target price on the stock. Wells Fargo & Company raised their target price on The Baldwin Insurance Group from $33.00 to $34.00 and gave the company an “underweight” rating in a report on Thursday. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $45.00 price target (up previously from $39.00) on shares of The Baldwin Insurance Group in a report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price objective 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, Jefferies Financial Group upped their target price on shares of The Baldwin Insurance Group from $41.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Baldwin Insurance Group has an average rating of “Moderate Buy” and a consensus target price of $45.29.

The Baldwin Insurance Group Trading Up 1.8 %

Shares of The Baldwin Insurance Group stock opened at $42.46 on Friday. The firm has a market cap of $4.99 billion, a PE ratio of -66.34, a P/E/G ratio of 1.17 and a beta of 1.52. The Baldwin Insurance Group, Inc. has a 1 year low of $31.47 and a 1 year high of $55.82. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a fifty day moving average price of $41.61 and a 200-day moving average price of $43.68.

Insider Transactions at The Baldwin Insurance Group

In other The Baldwin Insurance Group news, General Counsel Seth Bala Cohen sold 12,293 shares of the firm’s stock in a transaction on 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 directly owns 8,813 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. Also, CEO Trevor Baldwin sold 15,902 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $39.33, for a total transaction of $625,425.66. Following the completion of the transaction, the chief executive officer now directly owns 13,302 shares in the company, valued at approximately $523,167.66. The trade was a 54.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 131,836 shares of company stock worth $5,330,639. 20.14% of the stock is owned by company insiders.

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.