Wells Fargo & Company Issues Pessimistic Forecast for Baldwin Insurance Group (NASDAQ:BWIN) Stock Price

Baldwin Insurance Group (NASDAQ:BWIN) had its price target decreased by research analysts at Wells Fargo & Company from $31.00 to $28.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 3.61% from the stock’s current price.

BWIN has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Baldwin Insurance Group in a research note on Saturday, September 27th. Zacks Research upgraded Baldwin Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Monday. Raymond James Financial reiterated an “outperform” rating and issued a $40.00 price objective (down from $48.00) on shares of Baldwin Insurance Group in a research note on Thursday, August 7th. Wall Street Zen lowered Baldwin Insurance Group from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Finally, BMO Capital Markets lowered their price target on Baldwin Insurance Group from $51.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, June 13th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.50.

Baldwin Insurance Group Trading Up 0.3%

Baldwin Insurance Group stock opened at $29.05 on Wednesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.23 and a current ratio of 1.23. The business’s 50-day simple moving average is $31.27 and its 200-day simple moving average is $37.49. The firm has a market capitalization of $3.45 billion, a PE ratio of -100.17, a PEG ratio of 1.30 and a beta of 1.39. Baldwin Insurance Group has a 52 week low of $26.33 and a 52 week high of $55.82.

Baldwin Insurance Group (NASDAQ:BWIN) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $378.81 million for the quarter, compared to analyst estimates of $375.38 million. Baldwin Insurance Group had a positive return on equity of 13.24% and a negative net margin of 1.22%.The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. Equities research analysts forecast that Baldwin Insurance Group will post 1.01 earnings per share for the current year.

Insider Transactions at Baldwin Insurance Group

In other news, CFO Bradford Hale purchased 10,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were purchased at an average cost of $28.72 per share, for a total transaction of $287,200.00. Following the completion of the purchase, the chief financial officer directly owned 144,659 shares of the company’s stock, valued at approximately $4,154,606.48. The trade was a 7.43% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 18.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Baldwin Insurance Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Champlain Investment Partners LLC boosted its holdings in Baldwin Insurance Group by 23.0% during the second quarter. Champlain Investment Partners LLC now owns 3,256,446 shares of the company’s stock valued at $139,408,000 after purchasing an additional 609,171 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Baldwin Insurance Group by 62.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,232,521 shares of the company’s stock valued at $144,462,000 after purchasing an additional 1,238,650 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in 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 valued at $82,218,000 after purchasing an additional 142,506 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Baldwin Insurance Group by 4.9% during the second quarter. Geode Capital Management LLC now owns 1,695,758 shares of the company’s stock valued at $72,604,000 after purchasing an additional 79,869 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in Baldwin Insurance Group by 13.8% during the second quarter. Westfield Capital Management Co. LP now owns 1,225,948 shares of the company’s stock valued at $52,483,000 after purchasing an additional 149,101 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

About Baldwin Insurance Group

The Baldwin Insurance 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.