Bank of New York Mellon Corp Sells 195,875 Shares of The Baldwin Insurance Group, Inc. (NASDAQ:BRP)

Bank of New York Mellon Corp reduced its holdings in shares of The Baldwin Insurance Group, Inc. (NASDAQ:BRP) by 15.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,036,608 shares of the company’s stock after selling 195,875 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.88% of The Baldwin Insurance Group worth $36,768,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC grew its stake in The Baldwin Insurance Group by 47.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 325,830 shares of the company’s stock valued at $7,826,000 after buying an additional 104,800 shares during the last quarter. Vanguard Group Inc. grew its position in shares of The Baldwin Insurance Group by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 6,107,277 shares of the company’s stock valued at $146,697,000 after purchasing an additional 111,662 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of The Baldwin Insurance Group during the second quarter worth approximately $5,177,000. Pathway Financial Advisors LLC lifted its holdings in The Baldwin Insurance Group by 56.3% during the 1st quarter. Pathway Financial Advisors LLC now owns 141,387 shares of the company’s stock worth $4,092,000 after purchasing an additional 50,929 shares during the last quarter. Finally, Confluence Investment Management LLC bought a new stake in The Baldwin Insurance Group in the 1st quarter valued at $3,592,000. 70.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, UBS Group lifted their target price 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. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Baldwin Insurance Group presently has an average rating of “Buy” and a consensus target price of $34.00.

The Baldwin Insurance Group Stock Performance

NASDAQ:BRP opened at $46.89 on Tuesday. The company has a market cap of $5.51 billion, a price-to-earnings ratio of -50.97, a PEG ratio of 0.91 and a beta of 1.54. The Baldwin Insurance Group, Inc. has a fifty-two week low of $17.33 and a fifty-two week high of $33.03. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a fifty day moving average price of $40.76 and a 200-day moving average price of $33.69.

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.