The Baldwin Insurance Group, Inc. (NASDAQ:BRP) Receives $34.00 Consensus Target Price from Brokerages

Shares of The Baldwin Insurance Group, Inc. (NASDAQ:BRP) have earned a consensus recommendation of “Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $34.00.

BRP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price objective on The Baldwin Insurance Group from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. UBS Group increased their price objective on The Baldwin Insurance Group from $35.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. JPMorgan Chase & Co. upgraded The Baldwin Insurance Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $27.00 to $33.00 in a research note on Monday, April 8th. Finally, Wells Fargo & Company dropped their price target on The Baldwin Insurance Group from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th.

The Baldwin Insurance Group Trading Down 4.2 %

BRP opened at $41.40 on Friday. The Baldwin Insurance Group has a one year low of $17.33 and a one year high of $33.03. The company has a market cap of $4.87 billion, a P/E ratio of -45.00, a PEG ratio of 0.91 and a beta of 1.54. 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 business’s 50-day simple moving average is $36.89 and its 200-day simple moving average is $30.86.

Insiders Place Their Bets

In other The Baldwin Insurance Group news, General Counsel Seth Bala Cohen sold 10,834 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $30.03, for a total transaction of $325,345.02. Following the completion of the sale, the general counsel now directly owns 13,813 shares of the company’s stock, valued at approximately $414,804.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider James Morgan Roche sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $30.61, for a total value of $153,050.00. Following the completion of the sale, the insider now directly owns 233,499 shares of the company’s stock, valued at approximately $7,147,404.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Seth Bala Cohen sold 10,834 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $30.03, for a total value of $325,345.02. Following the completion of the sale, the general counsel now directly owns 13,813 shares of the company’s stock, valued at $414,804.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,874 shares of company stock valued at $510,385. 22.65% of the stock is owned by company insiders.

Institutional Trading of The Baldwin Insurance Group

Several hedge funds have recently modified their holdings of BRP. Annis Gardner Whiting Capital Advisors LLC raised its holdings in The Baldwin Insurance Group by 47.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 325,830 shares of the company’s stock worth $7,826,000 after purchasing an additional 104,800 shares during the last quarter. Vanguard Group Inc. raised its holdings in The Baldwin Insurance Group by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 6,107,277 shares of the company’s stock worth $146,697,000 after purchasing an additional 111,662 shares during the last quarter. Pathway Financial Advisors LLC raised its holdings in The Baldwin Insurance Group by 56.3% during the first quarter. Pathway Financial Advisors LLC now owns 141,387 shares of the company’s stock worth $4,092,000 after purchasing an additional 50,929 shares during the last quarter. Confluence Investment Management LLC acquired a new position in The Baldwin Insurance Group during the first quarter worth $3,592,000. Finally, Principal Financial Group Inc. acquired a new position in The Baldwin Insurance Group during the first quarter worth $1,298,000. 70.42% of the stock is owned by institutional investors and hedge funds.

About The Baldwin Insurance Group

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.