The Baldwin Insurance Group (NASDAQ:BRP) Reaches New 52-Week High – Time to Buy?

The Baldwin Insurance Group, Inc. (NASDAQ:BRP) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $44.57 and last traded at $43.96, with a volume of 289876 shares. The stock had previously closed at $43.93.

The Baldwin Insurance Group Stock Performance

The company has a fifty day moving average price of $48.81 and a two-hundred day moving average price of $41.66. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of -48.07, a price-to-earnings-growth ratio of 0.91 and a beta of 1.54. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.90.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRP. Quantbot Technologies LP acquired a new position in The Baldwin Insurance Group in the third quarter worth approximately $32,000. First Horizon Advisors Inc. raised its holdings in The Baldwin Insurance Group by 31.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,415 shares of the company’s stock worth $50,000 after acquiring an additional 340 shares during the period. HighTower Advisors LLC acquired a new position in shares of The Baldwin Insurance Group during the 3rd quarter worth about $131,000. Cyndeo Wealth Partners LLC bought a new stake in shares of The Baldwin Insurance Group in the third quarter valued at approximately $144,000. Finally, ZWJ Investment Counsel Inc. bought a new stake in The Baldwin Insurance Group in the 3rd quarter valued at $146,000. 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.