The Baldwin Insurance Group (NASDAQ:BRP) Trading 3% Higher – Time to Buy?

The Baldwin Insurance Group, Inc. (NASDAQ:BRP)’s stock price traded up 3% during trading on Monday . The stock traded as high as $40.12 and last traded at $39.97. 340,636 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 379,203 shares. The stock had previously closed at $38.79.

The Baldwin Insurance Group Stock Up 2.3 %

The firm’s 50 day simple moving average is $40.20 and its 200 day simple moving average is $44.24. The company has a market cap of $4.88 billion, a price-to-earnings ratio of -45.10, a price-to-earnings-growth ratio of 0.91 and a beta of 1.54. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.21.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BRP. JPMorgan Chase & Co. increased its stake in shares of The Baldwin Insurance Group by 1,946.7% during the third quarter. JPMorgan Chase & Co. now owns 1,235,868 shares of the company’s stock valued at $40,363,000 after acquiring an additional 1,175,484 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of The Baldwin Insurance Group during the third quarter valued at approximately $23,465,000. Lord Abbett & CO. LLC acquired a new position in shares of The Baldwin Insurance Group during the third quarter valued at approximately $19,312,000. State Street Corp increased its stake in shares of The Baldwin Insurance Group by 13.3% during the third quarter. State Street Corp now owns 1,956,551 shares of the company’s stock valued at $63,901,000 after acquiring an additional 229,387 shares during the period. Finally, King Luther Capital Management Corp acquired a new position in shares of The Baldwin Insurance Group during the third quarter valued at approximately $878,000. 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.