Baldwin Insurance Group (NASDAQ:BWIN) Price Target Lowered to $36.00 at Bank of America

Baldwin Insurance Group (NASDAQ:BWIN) had its target price trimmed by Bank of America from $38.00 to $36.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on BWIN. Jefferies Financial Group reaffirmed a “hold” rating and set a $28.00 target price on shares of Baldwin Insurance Group in a research note on Monday, December 15th. JPMorgan Chase & Co. cut their target price on shares of Baldwin Insurance Group from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Wall Street Zen raised shares of Baldwin Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. UBS Group dropped their price objective on shares of Baldwin Insurance Group from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Baldwin Insurance Group in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Baldwin Insurance Group currently has a consensus rating of “Hold” and an average target price of $30.13.

Baldwin Insurance Group Price Performance

Shares of BWIN opened at $22.25 on Tuesday. Baldwin Insurance Group has a fifty-two week low of $15.88 and a fifty-two week high of $45.16. The firm’s 50 day moving average price is $20.24 and its 200 day moving average price is $23.56. The company has a market cap of $3.18 billion, a P/E ratio of -45.41, a PEG ratio of 0.85 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 announced its earnings results on Thursday, February 26th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate 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 for 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 firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts forecast that Baldwin Insurance Group will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Paul Eugene Sparks acquired 15,200 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were bought at an average cost of $22.10 per share, with a total value of $335,920.00. Following the transaction, the director owned 996,706 shares in the company, valued at approximately $22,027,202.60. This trade represents a 1.55% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Elizabeth Krystyn sold 119,987 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $21.25, for a total transaction of $2,549,723.75. The SEC filing for this sale provides additional information. Corporate 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 company. Wealth Preservation Advisors LLC acquired a new position in shares of Baldwin Insurance Group in the 4th quarter valued at $46,000. XTX Topco Ltd acquired a new position in shares of Baldwin Insurance Group in the 4th quarter valued at $580,000. VARCOV Co. acquired a new position in shares of Baldwin Insurance Group in the 4th quarter valued at $517,000. Twinbeech Capital LP acquired a new position in shares of Baldwin Insurance Group in the 4th quarter valued at $908,000. Finally, Aristotle Capital Boston LLC boosted its holdings in shares of Baldwin Insurance Group by 12.5% in the 4th quarter. Aristotle Capital Boston LLC now owns 738,160 shares of the company’s stock valued at $17,738,000 after buying an additional 82,195 shares in the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

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.