Bank of New York Mellon Corp Cuts Holdings in Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Bank of New York Mellon Corp decreased its position in shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 836,946 shares of the company’s stock after selling 119,989 shares during the period. Bank of New York Mellon Corp owned approximately 0.71% of Baldwin Insurance Group worth $37,403,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. FMR LLC bought a new position in shares of Baldwin Insurance Group in the 4th quarter valued at about $325,535,000. Vanguard Group Inc. bought a new position in shares of Baldwin Insurance Group in the 4th quarter valued at about $255,331,000. William Blair Investment Management LLC bought a new position in shares of Baldwin Insurance Group in the 4th quarter valued at about $190,218,000. Bamco Inc. NY bought a new position in shares of Baldwin Insurance Group in the 4th quarter valued at about $116,668,000. Finally, Capital International Investors bought a new position in shares of Baldwin Insurance Group in the 4th quarter valued at about $99,040,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Baldwin Insurance Group Stock Up 1.3%

Shares of NASDAQ BWIN opened at $41.27 on Tuesday. The firm has a 50-day simple moving average of $39.67 and a two-hundred day simple moving average of $40.55. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.13 and a quick ratio of 1.13. Baldwin Insurance Group, Inc. has a 1 year low of $34.22 and a 1 year high of $55.82. The company has a market cap of $4.89 billion, a P/E ratio of -79.37, a PEG ratio of 1.58 and a beta of 1.64.

Insider Activity at Baldwin Insurance Group

In other news, Director Lowry Baldwin sold 50,000 shares of Baldwin Insurance Group stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $38.98, for a total transaction of $1,949,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Trevor Baldwin sold 117,000 shares of Baldwin Insurance Group stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $39.83, for a total transaction of $4,660,110.00. Following the sale, the chief executive officer directly owned 27,676 shares of the company’s stock, valued at $1,102,335.08. This represents a 80.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 451,380 shares of company stock worth $17,731,131. Insiders own 18.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $45.00 price target (up previously from $39.00) on shares of Baldwin Insurance Group in a report on Tuesday, April 8th. Wells Fargo & Company increased their price target on shares of Baldwin Insurance Group from $34.00 to $36.00 and gave the company an “underweight” rating in a report on Thursday, July 10th. Wall Street Zen downgraded shares of Baldwin Insurance Group from a “hold” rating to a “sell” rating in a research note on Monday, July 7th. Jefferies Financial Group raised their price objective on shares of Baldwin Insurance Group from $41.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. Finally, BMO Capital Markets decreased their price objective on shares of Baldwin Insurance Group from $51.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.17.

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.