The Baldwin Insurance Group (NASDAQ:BRP) Trading 6.3% Higher

Shares of The Baldwin Insurance Group, Inc. (NASDAQ:BRP) rose 6.3% during trading on Thursday . The stock traded as high as $31.77 and last traded at $31.74. Approximately 184,794 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 370,476 shares. The stock had previously closed at $29.85.

Analyst Ratings Changes

BRP has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on The Baldwin Insurance Group from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. UBS Group increased their target price on The Baldwin Insurance Group from $35.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. raised The Baldwin Insurance Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $27.00 to $33.00 in a report on Monday, April 8th. Bank of America decreased 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. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The Baldwin Insurance Group from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Baldwin Insurance Group currently has a consensus rating of “Buy” and an average target price of $34.00.

The Baldwin Insurance Group Stock Up 0.5 %

The firm has a fifty day simple moving average of $28.63 and a 200 day simple moving average of $25.10. 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 company has a market cap of $3.84 billion, a PE ratio of -35.50, a PEG ratio of 0.91 and a beta of 1.54.

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 Baldwin Insurance Group had a positive return on equity of 9.21% and a negative net margin of 4.29%. The business had revenue of $284.65 million for the quarter, compared to analyst estimates of $282.00 million. Equities research analysts predict that The Baldwin Insurance Group, Inc. will post 1.1 EPS for the current year.

Insiders Place Their Bets

In other news, insider James Morgan Roche sold 5,000 shares of The Baldwin Insurance Group stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $30.61, for a total transaction of $153,050.00. Following the sale, the insider now directly owns 233,499 shares of the company’s stock, valued at $7,147,404.39. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider James Morgan Roche sold 5,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $30.61, for a total value of $153,050.00. Following the sale, the insider now directly owns 233,499 shares of the company’s stock, valued at $7,147,404.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Galbraith sold 1,040 shares of the firm’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 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 sold a total of 80,536 shares of company stock worth $2,352,867 in the last 90 days. 22.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Baldwin Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of BRP. Parkside Financial Bank & Trust bought a new stake in The Baldwin Insurance Group in the 4th quarter valued at about $25,000. Quantbot Technologies LP acquired a new position in shares of The Baldwin Insurance Group during the third quarter worth approximately $64,000. Moody National Bank Trust Division bought a new position in The Baldwin Insurance Group in the 1st quarter worth approximately $202,000. Verdence Capital Advisors LLC bought a new stake in The Baldwin Insurance Group during the 1st quarter valued at $203,000. Finally, Victory Capital Management Inc. acquired a new position in The Baldwin Insurance Group during the 4th quarter worth $206,000. Institutional investors and hedge funds own 70.42% of the company’s stock.

The Baldwin Insurance Group Company 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.