Bank of New York Mellon Corp Takes Position in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Bank of New York Mellon Corp acquired a new stake in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 956,935 shares of the company’s stock, valued at approximately $37,091,000. Bank of New York Mellon Corp owned about 0.81% of The Baldwin Insurance Group at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BWIN. Lord Abbett & CO. LLC purchased a new stake in The Baldwin Insurance Group during the third quarter worth approximately $29,447,000. JPMorgan Chase & Co. raised its holdings in The Baldwin Insurance Group by 1,946.7% in the third quarter. JPMorgan Chase & Co. now owns 1,235,868 shares of the company’s stock valued at $61,546,000 after acquiring an additional 1,175,484 shares in the last quarter. Peapack Gladstone Financial Corp acquired a new stake in The Baldwin Insurance Group in the third quarter valued at $263,000. Confluence Investment Management LLC acquired a new stake in The Baldwin Insurance Group in the fourth quarter valued at $16,747,000. Finally, Diversified Trust Co acquired a new stake in The Baldwin Insurance Group in the fourth quarter valued at $788,000. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BWIN has been the topic of several recent analyst reports. Wells Fargo & Company cut their price target on shares of The Baldwin Insurance Group from $38.00 to $33.00 and set an “underweight” rating on the stock in a report on Wednesday, February 26th. Keefe, Bruyette & Woods dropped their target price on shares of The Baldwin Insurance Group from $50.00 to $49.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of The Baldwin Insurance Group from $46.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Baldwin Insurance Group presently has an average rating of “Moderate Buy” and an average price target of $43.50.

The Baldwin Insurance Group Stock Up 1.6 %

Shares of NASDAQ:BWIN opened at $39.20 on Friday. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of -61.25, a price-to-earnings-growth ratio of 1.17 and a beta of 1.72. The Baldwin Insurance Group, Inc. has a 1-year low of $26.08 and a 1-year high of $55.82. The company’s fifty day moving average is $39.93 and its two-hundred day moving average is $44.48. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.98 and a current ratio of 0.98.

Insider Transactions at The Baldwin Insurance Group

In other news, Director Lowry Baldwin sold 34,901 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $40.22, for a total transaction of $1,403,718.22. Following the completion of the transaction, the director now owns 90,099 shares in the company, valued at approximately $3,623,781.78. This represents a 27.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Elizabeth Krystyn sold 191,307 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $45.18, for a total transaction of $8,643,250.26. Following the completion of the transaction, the insider now owns 232,570 shares of the company’s stock, valued at $10,507,512.60. This represents a 45.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 326,807 shares of company stock worth $14,359,193. Insiders own 20.14% of the company’s stock.

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.