Wells Fargo & Company Forecasts Strong Price Appreciation for Baldwin Insurance Group (NASDAQ:BWIN) Stock

Baldwin Insurance Group (NASDAQ:BWIN) had its target price hoisted by stock analysts at Wells Fargo & Company from $21.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 5.07% from the company’s previous close.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut their price target on Baldwin Insurance Group from $33.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, January 7th. Zacks Research lowered shares of Baldwin Insurance Group from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Keefe, Bruyette & Woods lowered their price objective on shares of Baldwin Insurance Group from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Baldwin Insurance Group in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Baldwin Insurance Group from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $29.71.

Baldwin Insurance Group Price Performance

BWIN stock traded down $0.87 during midday trading on Thursday, reaching $21.89. 131,849 shares of the company’s stock traded hands, compared to its average volume of 1,686,971. The company has a 50-day simple moving average of $20.20 and a two-hundred day simple moving average of $23.81. Baldwin Insurance Group has a 1-year low of $15.88 and a 1-year high of $45.16. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -44.64, a PEG ratio of 0.84 and a beta of 1.30. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.54.

Baldwin Insurance Group (NASDAQ:BWIN) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $347.28 million for the quarter, compared to analyst estimates of $351.75 million. Baldwin Insurance Group had a positive return on equity of 12.60% and a negative net margin of 2.25%.The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 earnings per share. On average, analysts anticipate that Baldwin Insurance Group will post 1.01 earnings per share for the current year.

Insider Transactions at Baldwin Insurance Group

In other Baldwin Insurance Group news, Director Paul Eugene Sparks bought 29,000 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were bought at an average cost of $22.96 per share, for a total transaction of $665,840.00. Following the transaction, the director owned 981,506 shares in the company, valued at approximately $22,535,377.76. This trade represents a 3.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Elizabeth Krystyn sold 119,987 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $21.25, for a total transaction of $2,549,723.75. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 18.51% of the company’s stock.

Hedge Funds Weigh In On Baldwin Insurance Group

Several hedge funds have recently added to or reduced their stakes in BWIN. Fenimore Asset Management Inc increased its stake in shares of Baldwin Insurance Group by 44.3% in the 3rd quarter. Fenimore Asset Management Inc now owns 507,057 shares of the company’s stock valued at $14,304,000 after acquiring an additional 155,654 shares during the last quarter. Capital World Investors boosted its position in shares of Baldwin Insurance Group by 24.8% during the third quarter. Capital World Investors now owns 1,259,949 shares of the company’s stock worth $35,543,000 after purchasing an additional 250,000 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Baldwin Insurance Group by 8.0% during the second quarter. Westwood Holdings Group Inc. now owns 1,920,530 shares of the company’s stock worth $82,218,000 after purchasing an additional 142,506 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Baldwin Insurance Group by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,514,115 shares of the company’s stock valued at $42,713,000 after buying an additional 158,199 shares during the period. Finally, Aristotle Capital Boston LLC increased its position in shares of Baldwin Insurance Group by 53.6% in the 3rd quarter. Aristotle Capital Boston LLC now owns 655,965 shares of the company’s stock valued at $18,505,000 after buying an additional 228,940 shares in the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

About Baldwin Insurance Group

Baldwin Insurance Group, Inc (NASDAQ: BWIN) is a specialty insurance and surety firm that underwrites contract bonds, commercial insurance policies and related risk-management services. Its core offerings include contract and commercial surety, which provide performance and payment guarantees to obligees in construction, service and public-sector projects. In addition, the company delivers complementary commercial lines coverages designed to mitigate liability, property and workers’ compensation exposures.

Through a network of regional agency offices primarily across the Midwestern United States, Baldwin Insurance Group serves contractors, developers, small and mid-sized businesses as well as municipal and public-sector clients.