The Baldwin Insurance Group (NASDAQ:BRP) Reaches New 1-Year High – Still a Buy?

The Baldwin Insurance Group, Inc. (NASDAQ:BRP) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $49.96 and last traded at $45.94, with a volume of 890672 shares trading hands. The stock had previously closed at $48.93.

The Baldwin Insurance Group Stock Performance

The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of -48.25, a P/E/G 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. The stock has a 50 day simple moving average of $48.90 and a 200 day simple moving average of $41.29.

Institutional Trading of The Baldwin Insurance Group

Hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in The Baldwin Insurance Group by 31.6% in the second quarter. First Horizon Advisors Inc. now owns 1,415 shares of the company’s stock worth $50,000 after buying an additional 340 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of The Baldwin Insurance Group by 1.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 31,034 shares of the company’s stock valued at $1,101,000 after purchasing an additional 361 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of The Baldwin Insurance Group by 5.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,530 shares of the company’s stock valued at $246,000 after purchasing an additional 401 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in The Baldwin Insurance Group by 6.3% in the second quarter. Moody National Bank Trust Division now owns 7,420 shares of the company’s stock worth $263,000 after purchasing an additional 440 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of The Baldwin Insurance Group by 5.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,292 shares of the company’s stock valued at $542,000 after acquiring an additional 854 shares during the last quarter. 70.42% of the stock is owned by hedge funds and other institutional investors.

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.