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

Baldwin Insurance Group (NASDAQ:BWIN) had its target price raised by equities research analysts at Wells Fargo & Company from $21.00 to $23.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 7.53% from the stock’s current price.

BWIN has been the topic of several other research reports. Zacks Research lowered Baldwin Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Friday, February 6th. Keefe, Bruyette & Woods dropped their target price on shares of Baldwin Insurance Group from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Tuesday. UBS Group dropped their target price on shares of Baldwin Insurance Group from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, March 9th. Raymond James Financial raised shares of Baldwin Insurance Group from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $20.00 to $30.00 in a research note on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Baldwin Insurance Group in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Baldwin Insurance Group presently has a consensus rating of “Hold” and a consensus price target of $29.29.

Baldwin Insurance Group Price Performance

Shares of Baldwin Insurance Group stock opened at $21.39 on Thursday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.16 and a quick ratio of 1.16. Baldwin Insurance Group has a fifty-two week low of $15.88 and a fifty-two week high of $45.16. The firm has a fifty day moving average price of $20.18 and a two-hundred day moving average price of $23.73. The company has a market cap of $3.06 billion, a PE ratio of -43.65, a price-to-earnings-growth ratio of 0.84 and a beta of 1.30.

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

Insider Buying and Selling

In related news, major shareholder Elizabeth Krystyn sold 119,987 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $21.25, for a total value of $2,549,723.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Eugene Sparks purchased 29,000 shares of Baldwin Insurance Group stock in a transaction that occurred on Monday, March 2nd. The stock was acquired at an average cost of $22.96 per share, with a total value of $665,840.00. Following the transaction, the director owned 981,506 shares in the company, valued at $22,535,377.76. This trade represents a 3.04% increase in their position. The disclosure for this purchase is available in the SEC filing. 18.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Baldwin Insurance Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BWIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 valued at $1,795,000 after acquiring an additional 2,309 shares during the period. Millennium Management LLC grew its holdings in Baldwin Insurance Group by 371.9% during the 1st quarter. Millennium Management LLC now owns 254,734 shares of the company’s stock valued at $11,384,000 after buying an additional 200,754 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Baldwin Insurance Group by 6.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,075 shares of the company’s stock valued at $495,000 after buying an additional 700 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Baldwin Insurance Group by 3.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 379,601 shares of the company’s stock valued at $16,964,000 after buying an additional 13,058 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Baldwin Insurance Group by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 189,643 shares of the company’s stock valued at $8,475,000 after buying an additional 11,768 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors.

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.