Baldwin Insurance Group, Inc. (NASDAQ:BRP (TSX:DOO) (NASDAQ:DOOO)) saw significant stock activity from an executive this week, as James Morgan Roche, the company's President, The Baldwin Group, and CEO of Underwriting, Capacity, and Technology Operations, sold a total of $754,228 worth of Class A Common Stock. The transactions occurred in multiple sales at prices ranging between $30.00 and $30.61.
The sales, reported on May 9 and May 13, 2024, involved a total of 24,000 shares. On May 9, Roche sold 17,968 shares at a weighted average price of $30.00, with individual sales prices within the range of $30.00 to $30.02. On the same day, an additional 2,032 shares were sold at an average price of $30.58, with the range being $30.50 to $31.30. Finally, on May 13, Roche sold 5,000 shares at an average price of $30.61, with a price range of $30.50 to $30.77 for the separate transactions.
Following these transactions, Roche's ownership in Baldwin Insurance Group stands at 233,499 shares of Class A Common Stock. The company, which operates within the insurance agents, brokers, and services industry, has its headquarters in Tampa, Florida.
Investors often monitor insider sales as they may provide insights into an executive's perspective on the company's current valuation and future prospects. However, it's important to note that there can be various reasons for an insider to sell stock, and such transactions do not necessarily indicate a lack of confidence in the company.
The specific details of the transactions, including the number of shares sold at each separate price, will be made available upon request to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, as per the footnotes in the SEC filing.
InvestingPro Insights
The recent insider transactions at Baldwin Insurance Group have coincided with a notable period of stock performance for the company. According to InvestingPro data, Baldwin Insurance Group's stock has experienced a 1-week price total return of 7.28% and a 1-month price total return of 8.83%, showcasing a positive short-term trend. Over a longer timeframe, the 6-month price total return stands at an impressive 41.24%, with the stock currently trading at 93.97% of its 52-week high, indicating a strong market sentiment.
Despite a challenging P/E ratio, which currently stands at -33.90 and an adjusted P/E ratio of -56.88 for the last twelve months as of Q1 2024, Baldwin Insurance Group's revenue growth remains robust. The company has reported an 18.74% revenue growth for the last twelve months as of Q1 2024, with a gross profit margin of 27.83% in the same period. This suggests that Baldwin Insurance Group is increasing its revenue streams while maintaining profitability.
An InvestingPro Tip suggests that investors should consider the company's revenue growth and recent stock performance when evaluating the implications of insider sales. Additionally, with an InvestingPro Fair Value estimate of $36.82, which is higher than the recent trading price of $29.99, there may be potential for upside. For those looking to delve deeper into the financial health and future prospects of Baldwin Insurance Group, InvestingPro offers additional insights. There are 15 more InvestingPro Tips available to subscribers, providing a comprehensive analysis for informed investment decisions.
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