Pictet Asset Management Holding SA Buys New Stake in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Pictet Asset Management Holding SA purchased a new stake in shares of The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,576 shares of the company’s stock, valued at approximately $332,000.

Other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of The Baldwin Insurance Group in the 4th quarter worth about $5,115,000. JPMorgan Chase & Co. grew its position in The Baldwin Insurance Group by 1,946.7% in the third quarter. JPMorgan Chase & Co. now owns 1,235,868 shares of the company’s stock worth $61,546,000 after acquiring an additional 1,175,484 shares in the last quarter. Diversified Trust Co bought a new stake in The Baldwin Insurance Group during the fourth quarter worth approximately $788,000. Principal Financial Group Inc. purchased a new stake in The Baldwin Insurance Group during the fourth quarter valued at approximately $2,320,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in The Baldwin Insurance Group during the fourth quarter valued at approximately $2,000,000. Institutional investors own 77.49% of the company’s stock.

The Baldwin Insurance Group Stock Performance

BWIN stock opened at $41.72 on Friday. The Baldwin Insurance Group, Inc. has a twelve month low of $31.47 and a twelve month high of $55.82. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of -65.19, a PEG ratio of 1.17 and a beta of 1.52. The business’s fifty day simple moving average is $41.58 and its two-hundred day simple moving average is $43.73. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.35.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BWIN. Wells Fargo & Company lifted their target price on The Baldwin Insurance Group from $33.00 to $34.00 and gave the stock an “underweight” rating in a report on Thursday. BMO Capital Markets assumed coverage on shares of The Baldwin Insurance Group in a research note on Thursday, March 27th. They set an “outperform” rating and a $53.00 price objective for the company. 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 on the stock in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $45.00 target price (up previously from $39.00) on shares of The Baldwin Insurance Group in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.86.

Insider Transactions at The Baldwin Insurance Group

In other The Baldwin Insurance Group news, CEO Trevor Baldwin sold 15,902 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $39.33, for a total value of $625,425.66. Following the completion of the sale, the chief executive officer now directly owns 13,302 shares of the company’s stock, valued at $523,167.66. The trade was a 54.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lowry Baldwin sold 34,901 shares of the company’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 completion of the transaction, the director now owns 90,099 shares in the company, valued at $3,623,781.78. This represents 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 131,836 shares of company stock worth $5,330,639. 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.