The Baldwin Insurance Group, Inc. (NASDAQ:BRP) Receives Average Rating of “Buy” from Brokerages

The Baldwin Insurance Group, Inc. (NASDAQ:BRPGet Free Report) has received an average recommendation of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $34.00.

A number of research firms have commented on BRP. Bank of America reduced their price target on shares of The Baldwin Insurance Group from $44.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Keefe, Bruyette & Woods boosted their target price on The Baldwin Insurance Group from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. UBS Group increased their price target on The Baldwin Insurance Group from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. JPMorgan Chase & Co. upgraded 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 report on Monday, April 8th. Finally, Wells Fargo & Company cut their target price on 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.

Read Our Latest Report on BRP

The Baldwin Insurance Group Stock Performance

Shares of BRP stock opened at $33.89 on Friday. The firm has a 50 day moving average of $29.99 and a 200-day moving average of $26.41. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -36.84, a price-to-earnings-growth ratio of 0.91 and a beta of 1.54. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.21. The Baldwin Insurance Group has a 52 week low of $17.33 and a 52 week high of $33.03.

Insider Activity

In related news, insider Daniel Galbraith sold 1,040 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $30.76, for a total transaction of $31,990.40. Following the completion of the sale, the insider now owns 31,126 shares in the company, valued at $957,435.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other The Baldwin Insurance Group news, 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 transaction of $1,812,483.26. Following the transaction, the director now owns 37,371 shares of the company’s stock, valued at approximately $1,081,516.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel Galbraith sold 1,040 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $30.76, for a total value of $31,990.40. Following the completion of the transaction, the insider now directly owns 31,126 shares of the company’s stock, valued at $957,435.76. The disclosure for this sale can be found here. Insiders have sold 80,536 shares of company stock worth $2,352,867 over the last 90 days. 22.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC lifted its stake in The Baldwin Insurance Group by 51.2% in the third quarter. FMR LLC now owns 8,674,940 shares of the company’s stock valued at $201,519,000 after purchasing an additional 2,938,558 shares during the last quarter. Vanguard Group Inc. raised its stake in The Baldwin Insurance Group by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 6,107,277 shares of the company’s stock valued at $146,697,000 after acquiring an additional 111,662 shares during the period. Westwood Holdings Group Inc. lifted its holdings in The Baldwin Insurance Group by 73.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 3,015,270 shares of the company’s stock valued at $72,427,000 after purchasing an additional 1,272,353 shares during the last quarter. Invesco Ltd. boosted its position in The Baldwin Insurance Group by 2.6% during the third quarter. Invesco Ltd. now owns 2,112,762 shares of the company’s stock worth $49,079,000 after purchasing an additional 53,895 shares during the period. Finally, Boston Partners bought a new position in The Baldwin Insurance Group during the fourth quarter worth about $30,586,000. Hedge funds and other institutional investors own 70.42% of the company’s stock.

The Baldwin Insurance Group Company Profile

(Get Free Report

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.

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Analyst Recommendations for The Baldwin Insurance Group (NASDAQ:BRP)

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