In a recent transaction, C. Scott Franklin, the congressional representative from Florida's 18th district, has partially sold his shares in The Baldwin Insurance Group, Inc. (NASDAQ:BRP (NASDAQ:DOOO)). The transaction took place on May 8, 2024, and was reported two days later on May 10, 2024.
The dollar value of the trade was significant, falling within the range of $500,001 to $1,000,000. This move represents a partial sale, meaning that Franklin still retains some ownership in the company.
The shares were held in a Fidelity Joint Tenants by the Entirety (TBE) account, a type of investment vehicle that allows for shared ownership between spouses. This type of account provides certain protections and benefits, particularly in the case of one spouse's death.
The Baldwin Insurance Group, Inc. is a publicly-traded company, known for providing a range of insurance products and services. The company's Class A Common Stock was the specific asset sold in this transaction.
This sale is part of the periodic transactions that congress members are required to report under the STOCK Act. This act mandates that all members of Congress disclose their trades within 45 days to maintain transparency and avoid potential conflicts of interest.
InvestingPro Insights
The recent sale of shares in The Baldwin Insurance Group, Inc. (NASDAQ:BRP) by Representative C. Scott Franklin has drawn attention to the company’s financial performance and market position. To provide a fuller picture of the company's current state, let's consider some key metrics and insights from InvestingPro.
With a solid market capitalization of $4.79 billion, The Baldwin Insurance Group stands as a notable player in the insurance sector. The company's commitment to shareholder returns is evident, as it has not only raised its dividend for 3 consecutive years but has also maintained dividend payments for 8 consecutive years. This consistent dividend growth, which was 28.11% over the last twelve months as of Q1 2024, underscores the company's financial health and its dedication to providing value to its shareholders.
Moreover, The Baldwin Insurance Group's current P/E ratio stands at 9.11, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 7.74, indicating the stock may be undervalued compared to earnings. This is reinforced by the InvestingPro Tip that the company's stock is currently in oversold territory according to the Relative Strength Index (RSI), suggesting that it might be an opportune time for investors to consider this stock.
While analysts anticipate a sales decline in the current year, the company has shown resilience with a 3.32% revenue growth over the last twelve months as of Q1 2024. This data point, coupled with the fact that analysts predict the company will be profitable this year, provides a mixed yet intriguing picture for potential investors.
For those interested in further insights and metrics, there are additional InvestingPro Tips available for The Baldwin Insurance Group at https://www.investing.com/pro/BRP. And remember, if you're considering an upgrade to a yearly or biyearly Pro and Pro+ subscription, use the coupon code PRONEWS24 to get an extra 10% off.
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