Baldwin Insurance Group (NASDAQ:BWIN) Trading Up 7.2% on Analyst Upgrade

Baldwin Insurance Group, Inc. (NASDAQ:BWIN)’s stock price shot up 7.2% during mid-day trading on Tuesday after BMO Capital Markets raised their price target on the stock from $23.00 to $25.00. BMO Capital Markets currently has a market perform rating on the stock. Baldwin Insurance Group traded as high as $25.23 and last traded at $25.22. 576,084 shares changed hands during trading, a decline of 65% from the average daily volume of 1,645,091 shares. The stock had previously closed at $23.52.

Several other brokerages have also recently weighed in on BWIN. Raymond James Financial upgraded Baldwin Insurance Group from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $20.00 to $30.00 in a research note on Friday, February 27th. Morgan Stanley set a $28.00 target price on shares of Baldwin Insurance Group in a report on Monday. Bank of America cut their price target on shares of Baldwin Insurance Group from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. UBS Group decreased their price objective on shares of Baldwin Insurance Group from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, June 9th. Finally, TD Cowen reissued a “buy” rating on shares of Baldwin Insurance Group in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Baldwin Insurance Group presently has a consensus rating of “Moderate Buy” and an average price target of $28.89.

Insider Buying and Selling at Baldwin Insurance Group

In related news, major shareholder Elizabeth Krystyn sold 130,018 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $21.20, for a total transaction of $2,756,381.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 20.14% of the company’s stock.

Institutional Investors Weigh In On Baldwin Insurance Group

Large investors have recently modified their holdings of the stock. William Blair Investment Management LLC raised its holdings in shares of Baldwin Insurance Group by 47.8% in the 4th quarter. William Blair Investment Management LLC now owns 7,543,813 shares of the company’s stock worth $181,278,000 after purchasing an additional 2,439,118 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Baldwin Insurance Group by 11,089.9% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,717,538 shares of the company’s stock valued at $37,683,000 after purchasing an additional 1,702,189 shares during the period. Bank of New York Mellon Corp grew its holdings in Baldwin Insurance Group by 36.3% during the first quarter. Bank of New York Mellon Corp now owns 3,918,087 shares of the company’s stock valued at $85,963,000 after purchasing an additional 1,044,200 shares during the period. Champlain Investment Partners LLC increased its position in Baldwin Insurance Group by 20.3% in the third quarter. Champlain Investment Partners LLC now owns 3,915,879 shares of the company’s stock worth $110,467,000 after buying an additional 659,433 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in Baldwin Insurance Group by 1,376.4% in the fourth quarter. MetLife Investment Management LLC now owns 619,292 shares of the company’s stock worth $14,882,000 after buying an additional 577,345 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Baldwin Insurance Group Stock Performance

The company has a 50 day simple moving average of $21.04 and a 200-day simple moving average of $21.83. The stock has a market capitalization of $3.60 billion, a P/E ratio of -37.65, a price-to-earnings-growth ratio of 0.72 and a beta of 1.16. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.08 and a quick ratio of 1.08.

Baldwin Insurance Group (NASDAQ:BWIN) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $532.24 million during the quarter, compared to the consensus estimate of $524.07 million. Baldwin Insurance Group had a negative net margin of 2.80% and a positive return on equity of 12.35%. The company’s revenue was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, equities analysts forecast that Baldwin Insurance Group, Inc. will post 1.38 EPS for the current year.

Baldwin Insurance Group Company Profile

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.