Envestnet Asset Management Inc. Decreases Stock Position in The Baldwin Insurance Group, Inc. (NASDAQ:BRP)

Envestnet Asset Management Inc. cut its holdings in The Baldwin Insurance Group, Inc. (NASDAQ:BRP) by 10.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 115,992 shares of the company’s stock after selling 13,961 shares during the period. Envestnet Asset Management Inc. owned 0.10% of The Baldwin Insurance Group worth $4,114,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BRP. Westwood Holdings Group Inc. grew its stake in shares of The Baldwin Insurance Group by 73.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 3,015,270 shares of the company’s stock worth $72,427,000 after purchasing an additional 1,272,353 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of The Baldwin Insurance Group by 178.6% in the second quarter. Confluence Investment Management LLC now owns 345,789 shares of the company’s stock worth $12,265,000 after acquiring an additional 221,668 shares during the last quarter. William Blair Investment Management LLC grew its stake in The Baldwin Insurance Group by 5.4% in the 2nd quarter. William Blair Investment Management LLC now owns 3,083,281 shares of the company’s stock worth $109,364,000 after acquiring an additional 157,631 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of The Baldwin Insurance Group in the second quarter worth approximately $5,177,000. Finally, Vanguard Group Inc. raised its holdings in The Baldwin Insurance Group by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 6,107,277 shares of the company’s stock valued at $146,697,000 after buying an additional 111,662 shares during the period. 70.42% of the stock is owned by hedge funds and other institutional investors.

The Baldwin Insurance Group Trading Down 1.4 %

NASDAQ BRP opened at $49.10 on Thursday. The Baldwin Insurance Group, Inc. has a 52 week low of $17.33 and a 52 week high of $33.03. The company’s fifty day simple moving average is $45.36 and its 200-day simple moving average is $36.77. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The stock has a market cap of $5.77 billion, a P/E ratio of -53.37, a PEG ratio of 0.91 and a beta of 1.54.

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.