Baldwin Insurance Group (NASDAQ:BWIN) Trading Down 3.7% – Here’s Why

Baldwin Insurance Group, Inc. (NASDAQ:BWIN)’s share price dropped 3.7% during mid-day trading on Wednesday . The company traded as low as $24.45 and last traded at $24.51. Approximately 376,212 shares were traded during trading, a decline of 52% from the average daily volume of 785,198 shares. The stock had previously closed at $25.45.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Baldwin Insurance Group from $41.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. BMO Capital Markets reduced their target price on Baldwin Insurance Group from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Thursday, December 4th. Wells Fargo & Company raised Baldwin Insurance Group from an “underweight” rating to an “equal weight” rating and set a $25.00 price target for the company in a report on Friday, December 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Baldwin Insurance Group in a research report on Monday. Finally, Jefferies Financial Group restated a “hold” rating and set a $28.00 target price on shares of Baldwin Insurance Group in a report on Monday, December 15th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $36.57.

Baldwin Insurance Group Price Performance

The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -55.88, a PEG ratio of 1.13 and a beta of 1.38. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.45. The company has a 50 day moving average price of $25.16 and a 200 day moving average price of $30.92.

Baldwin Insurance Group (NASDAQ:BWIN) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $365.39 million for the quarter, compared to analyst estimates of $364.14 million. Baldwin Insurance Group had a positive return on equity of 12.65% and a negative net margin of 1.89%.The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 earnings per share. As a group, equities research analysts forecast that Baldwin Insurance Group, Inc. will post 1.01 earnings per share for the current year.

Insider Activity

In other news, insider James Morgan Roche sold 100,000 shares of Baldwin Insurance Group stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $24.20, for a total transaction of $2,420,000.00. Following the completion of the sale, the insider owned 122,113 shares in the company, valued at $2,955,134.60. The trade was a 45.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 255,000 shares of company stock valued at $6,119,000. 18.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Baldwin Insurance Group

Several large investors have recently bought and sold shares of BWIN. State of Wyoming grew its holdings in Baldwin Insurance Group by 74.8% during the 1st quarter. State of Wyoming now owns 3,716 shares of the company’s stock worth $166,000 after acquiring an additional 1,590 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Baldwin Insurance Group by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,166 shares of the company’s stock worth $1,795,000 after purchasing an additional 2,309 shares during the last quarter. Millennium Management LLC grew its stake in shares of Baldwin Insurance Group by 371.9% during the first quarter. Millennium Management LLC now owns 254,734 shares of the company’s stock worth $11,384,000 after purchasing an additional 200,754 shares during the period. NewEdge Advisors LLC increased its holdings in Baldwin Insurance Group by 6.7% in the first quarter. NewEdge Advisors LLC now owns 11,075 shares of the company’s stock valued at $495,000 after purchasing an additional 700 shares during the last quarter. Finally, Select Equity Group L.P. increased its holdings in Baldwin Insurance Group by 377.8% in the first quarter. Select Equity Group L.P. now owns 161,226 shares of the company’s stock valued at $7,205,000 after purchasing an additional 127,485 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

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.