King Luther Capital Management Corp Takes Position in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

King Luther Capital Management Corp bought a new position in shares of The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 34,683 shares of the company’s stock, valued at approximately $1,344,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC purchased a new position in shares of The Baldwin Insurance Group in the third quarter worth $29,447,000. JPMorgan Chase & Co. raised its stake 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 acquiring an additional 1,175,484 shares during the last quarter. Peapack Gladstone Financial Corp acquired a new stake in The Baldwin Insurance Group during the 3rd quarter worth about $263,000. Confluence Investment Management LLC acquired a new position in shares of The Baldwin Insurance Group in the fourth quarter valued at about $16,747,000. Finally, Diversified Trust Co acquired a new position in shares of The Baldwin Insurance Group in the fourth quarter valued at about $788,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Baldwin Insurance Group

In other news, General Counsel Seth Bala Cohen sold 12,293 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $41.54, for a total transaction of $510,651.22. Following the sale, the general counsel now directly owns 8,813 shares of the company’s stock, valued at $366,092.02. This represents a 58.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lowry Baldwin sold 34,901 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $40.22, for a total value of $1,403,718.22. Following the sale, the director now owns 90,099 shares in the company, valued at $3,623,781.78. This trade represents a 27.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BWIN shares. JPMorgan Chase & Co. dropped their target price on The Baldwin Insurance Group from $46.00 to $39.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on shares of The Baldwin Insurance Group from $38.00 to $33.00 and set an “underweight” rating for the company in a research note on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of The Baldwin Insurance Group from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.50.

The Baldwin Insurance Group Price Performance

NASDAQ:BWIN opened at $38.79 on Friday. 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 company has a 50 day moving average price of $40.02 and a 200-day moving average price of $44.37. The Baldwin Insurance Group, Inc. has a 1-year low of $26.08 and a 1-year high of $55.82. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of -60.61, a price-to-earnings-growth ratio of 1.17 and a beta of 1.72.

The 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.