New World Advisors LLC Invests $709,000 in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

New World Advisors LLC bought a new position in shares of The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) during the 4th quarter, Holdings Channel.com reports. The fund bought 18,295 shares of the company’s stock, valued at approximately $709,000. The Baldwin Insurance Group accounts for 0.2% of New World Advisors LLC’s investment portfolio, making the stock its 18th largest holding.

Several other hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake 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 during the last quarter. Lord Abbett & CO. LLC bought a new position in The Baldwin Insurance Group in the third quarter valued at approximately $29,447,000. Tributary Capital Management LLC bought a new position in The Baldwin Insurance Group in the fourth quarter valued at approximately $18,287,000. Confluence Investment Management LLC bought a new position in The Baldwin Insurance Group in the fourth quarter valued at approximately $16,747,000. Finally, Peregrine Capital Management LLC bought a new position in The Baldwin Insurance Group in the fourth quarter valued at approximately $16,146,000. 77.49% of the stock is owned by institutional investors.

Insider Transactions at The Baldwin Insurance Group

In other news, major shareholder Elizabeth Krystyn sold 191,307 shares of The Baldwin Insurance Group stock in a transaction on 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 transaction, the insider now owns 232,570 shares in the company, valued at approximately $10,507,512.60. The trade was a 45.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 20.14% of the stock is owned by company insiders.

The Baldwin Insurance Group Stock Performance

Shares of The Baldwin Insurance Group stock opened at $39.18 on Monday. The Baldwin Insurance Group, Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $55.82. 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 firm has a market capitalization of $4.61 billion, a P/E ratio of -61.22, a P/E/G ratio of 1.17 and a beta of 1.63. The company’s 50 day moving average price is $39.87 and its two-hundred day moving average price is $44.65.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BWIN. JPMorgan Chase & Co. decreased their price objective on shares of The Baldwin Insurance Group from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Keefe, Bruyette & Woods decreased 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. Finally, Wells Fargo & Company cut their target price on shares of The Baldwin Insurance Group from $41.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $45.50.

About The Baldwin Insurance Group

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.