Kornitzer Capital Management Inc. KS Invests $9.32 Million in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN)

Kornitzer Capital Management Inc. KS purchased a new position in The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 240,539 shares of the company’s stock, valued at approximately $9,323,000. Kornitzer Capital Management Inc. KS owned approximately 0.20% of The Baldwin Insurance Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. raised 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 worth $61,546,000 after acquiring an additional 1,175,484 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of The Baldwin Insurance Group during the 3rd quarter valued at $29,447,000. Tributary Capital Management LLC bought a new stake in shares of The Baldwin Insurance Group during the 4th quarter valued at $18,287,000. Confluence Investment Management LLC bought a new stake in shares of The Baldwin Insurance Group during the 4th quarter valued at $16,747,000. Finally, abrdn plc purchased a new position in shares of The Baldwin Insurance Group in the 4th quarter worth about $9,264,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BWIN has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their price target on The Baldwin Insurance Group from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Wells Fargo & Company decreased their price objective on shares of The Baldwin Insurance Group from $41.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Finally, 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 for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.50.

The Baldwin Insurance Group Stock Performance

Shares of NASDAQ:BWIN opened at $41.06 on Wednesday. The firm has a market cap of $4.83 billion, a PE ratio of -64.16, a price-to-earnings-growth ratio of 1.19 and a beta of 1.63. The firm’s 50 day simple moving average is $40.01 and its 200-day simple moving average is $44.68. The Baldwin Insurance Group, Inc. has a one year low of $26.08 and a one year high of $55.82. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.98 and a current ratio of 0.98.

Insider Transactions at The Baldwin Insurance Group

In related news, major shareholder Elizabeth Krystyn sold 88,306 shares of The Baldwin Insurance Group stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $43.05, for a total transaction of $3,801,573.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 20.14% of the company’s stock.

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.