Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in The Baldwin Insurance Group, Inc. (NASDAQ:BRP)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in The Baldwin Insurance Group, Inc. (NASDAQ:BRP) by 29.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,438 shares of the company’s stock after buying an additional 3,278 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in The Baldwin Insurance Group were worth $347,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BRP. Arizona State Retirement System increased its position in shares of The Baldwin Insurance Group by 4.1% in the third quarter. Arizona State Retirement System now owns 18,148 shares of the company’s stock valued at $422,000 after buying an additional 720 shares in the last quarter. Diversified Trust Co increased its holdings in The Baldwin Insurance Group by 4.1% during the 4th quarter. Diversified Trust Co now owns 23,950 shares of the company’s stock valued at $575,000 after acquiring an additional 950 shares in the last quarter. First National Bank of Omaha increased its position in The Baldwin Insurance Group by 14.6% during the third quarter. First National Bank of Omaha now owns 16,956 shares of the company’s stock worth $394,000 after buying an additional 2,164 shares in the last quarter. Natixis Advisors L.P. lifted its position in shares of The Baldwin Insurance Group by 12.9% in the third quarter. Natixis Advisors L.P. now owns 19,062 shares of the company’s stock valued at $443,000 after acquiring an additional 2,179 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in The Baldwin Insurance Group during the 3rd quarter worth about $64,000. Institutional investors and hedge funds own 70.42% of the company’s stock.

Wall Street Analyst Weigh In

BRP has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised their target price on shares of The Baldwin Insurance Group from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company cut 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 research note on Thursday, April 11th. JPMorgan Chase & Co. raised shares of The Baldwin Insurance Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $27.00 to $33.00 in a research note on Monday, April 8th. Finally, Bank of America reduced their price objective on The Baldwin Insurance Group from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. One analyst has rated the stock with a hold rating, three have assigned 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 presently has an average rating of “Buy” and a consensus target price of $33.40.

The Baldwin Insurance Group Stock Performance

NASDAQ:BRP opened at $27.54 on Friday. The Baldwin Insurance Group, Inc. has a twelve month low of $17.33 and a twelve month high of $30.84. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -18.48, a PEG ratio of 0.82 and a beta of 1.54. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.29. The firm’s fifty day simple moving average is $28.26 and its 200 day simple moving average is $24.47.

The Baldwin Insurance Group (NASDAQ:BRP) last issued its earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $284.65 million during the quarter, compared to the consensus estimate of $282.00 million. The Baldwin Insurance Group had a positive return on equity of 7.61% and a negative net margin of 7.40%. As a group, equities research analysts expect that The Baldwin Insurance Group, Inc. will post 1.05 earnings per share for the current fiscal year.

Insider Activity

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

The Baldwin Insurance Group 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.