Envestnet Asset Management Inc. Invests $4.22 Million in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Envestnet Asset Management Inc. purchased a new stake in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 108,824 shares of the company’s stock, valued at approximately $4,218,000. Envestnet Asset Management Inc. owned 0.09% of The Baldwin Insurance Group as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of The Baldwin Insurance Group in the fourth quarter valued at about $5,115,000. Emerald Advisers LLC acquired a new stake in The Baldwin Insurance Group in the 4th quarter worth about $33,608,000. JPMorgan Chase & Co. boosted its holdings in The Baldwin Insurance Group by 1,946.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,235,868 shares of the company’s stock worth $61,546,000 after buying an additional 1,175,484 shares during the last quarter. Diversified Trust Co purchased a new stake in The Baldwin Insurance Group during the 4th quarter worth approximately $788,000. Finally, Principal Financial Group Inc. acquired a new position in shares of The Baldwin Insurance Group during the fourth quarter valued at approximately $2,320,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

The Baldwin Insurance Group Stock Performance

NASDAQ:BWIN opened at $42.70 on Thursday. The company’s 50-day moving average is $41.77 and its two-hundred day moving average is $43.30. 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 firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of -66.72, a PEG ratio of 1.17 and a beta of 1.52.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BWIN. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $45.00 price target (up from $39.00) on shares of The Baldwin Insurance Group in a research note on Tuesday, April 8th. 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 report on Friday, April 11th. BMO Capital Markets started coverage on shares of The Baldwin Insurance Group in a research note on Thursday, March 27th. They issued an “outperform” rating and a $53.00 price target on the stock. Wells Fargo & Company boosted 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, April 10th. Finally, Keefe, Bruyette & Woods reduced 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 report on Friday, January 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, The Baldwin Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $45.29.

Insider Activity

In other news, General Counsel Seth Bala Cohen sold 12,293 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $41.54, for a total transaction of $510,651.22. Following the completion of the transaction, the general counsel now directly owns 8,813 shares in the company, valued at approximately $366,092.02. This represents a 58.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Trevor Baldwin sold 68,740 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $40.60, for a total value of $2,790,844.00. Following the sale, the chief executive officer now directly owns 80,663 shares of the company’s stock, valued at $3,274,917.80. The trade was a 46.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,836 shares of company stock valued at $5,330,639. 20.14% of the stock is currently 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.