Confluence Investment Management LLC Sells 9,814 Shares of Baldwin Insurance Group, Inc. $BWIN

Confluence Investment Management LLC cut its stake in shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN) by 2.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 413,228 shares of the company’s stock after selling 9,814 shares during the quarter. Confluence Investment Management LLC’s holdings in Baldwin Insurance Group were worth $17,690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Westwood Holdings Group Inc. bought a new position in shares of Baldwin Insurance Group during the fourth quarter worth approximately $77,164,000. T. Rowe Price Investment Management Inc. boosted its stake in Baldwin Insurance Group by 62.1% in the 1st 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 during the period. Royal Bank of Canada acquired a new position in Baldwin Insurance Group in the 4th quarter valued at $33,926,000. Bank of America Corp DE bought a new position in Baldwin Insurance Group during the 4th quarter worth $28,171,000. Finally, Champlain Investment Partners LLC increased its position in Baldwin Insurance Group by 32.0% during the 1st quarter. Champlain Investment Partners LLC now owns 2,647,275 shares of the company’s stock worth $118,307,000 after buying an additional 642,104 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

Baldwin Insurance Group Trading Up 0.1%

BWIN opened at $31.09 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.53. Baldwin Insurance Group, Inc. has a twelve month low of $28.66 and a twelve month high of $55.82. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of -107.21, a P/E/G ratio of 1.39 and a beta of 1.43. The company has a 50-day simple moving average of $35.46 and a 200 day simple moving average of $39.00.

Baldwin Insurance Group (NASDAQ:BWIN) last issued its earnings results on Tuesday, August 5th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Baldwin Insurance Group had a negative net margin of 1.22% and a positive return on equity of 13.24%. The company had revenue of $378.81 million during the quarter, compared to analysts’ expectations of $375.38 million. During the same period in the previous year, the company earned $0.34 EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Analysts predict that Baldwin Insurance Group, Inc. will post 1.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Baldwin Insurance Group news, CFO Bradford Hale bought 10,000 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was 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. This trade represents a 7.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 18.51% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BWIN has been the subject of a number of recent research reports. BMO Capital Markets reduced their target price on shares of Baldwin Insurance Group from $51.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, June 13th. Wall Street Zen upgraded shares of Baldwin Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday. Raymond James Financial reissued an “outperform” rating and issued a $40.00 price objective (down previously from $48.00) on shares of Baldwin Insurance Group in a report on Thursday, August 7th. Wells Fargo & Company increased their target price on shares of Baldwin Insurance Group from $34.00 to $36.00 and gave the stock an “underweight” rating in a research report on Thursday, July 10th. Finally, Zacks Research raised shares of Baldwin Insurance Group to a “strong sell” rating in a report on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Baldwin Insurance Group has an average rating of “Hold” and an average target price of $43.67.

Baldwin Insurance Group Profile

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.