Baldwin Insurance Group (NASDAQ:BWIN) Posts Quarterly Earnings Results, Meets Expectations

Baldwin Insurance Group (NASDAQ:BWIN) released its quarterly earnings results on Tuesday. The company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31, Briefing.com reports. The firm had revenue of $365.39 million during the quarter, compared to analyst estimates of $364.14 million. Baldwin Insurance Group had a negative net margin of 1.22% and a positive return on equity of 13.24%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 EPS.

Baldwin Insurance Group Price Performance

NASDAQ:BWIN traded up $2.35 during trading hours on Wednesday, hitting $25.36. 508,927 shares of the stock traded hands, compared to its average volume of 718,376. The company has a market cap of $3.01 billion, a price-to-earnings ratio of -87.24, a price-to-earnings-growth ratio of 1.09 and a beta of 1.40. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.53. The stock has a 50 day moving average price of $27.95 and a 200 day moving average price of $34.95. Baldwin Insurance Group has a 1 year low of $21.26 and a 1 year high of $50.46.

Insider Buying and Selling

In other Baldwin Insurance Group news, CFO Bradford Hale acquired 10,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were acquired at an average cost of $28.72 per share, for a total transaction of $287,200.00. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 20.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP increased its holdings in shares of Baldwin Insurance Group by 51.5% in the 2nd quarter. First Trust Advisors LP now owns 95,983 shares of the company’s stock worth $4,109,000 after buying an additional 32,629 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Baldwin Insurance Group by 0.9% during the second quarter. California State Teachers Retirement System now owns 61,912 shares of the company’s stock worth $2,650,000 after purchasing an additional 555 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Baldwin Insurance Group by 6.1% in the first 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. Orion Porfolio Solutions LLC purchased a new position in shares of Baldwin Insurance Group during the second quarter worth approximately $961,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in Baldwin Insurance Group by 11.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 20,452 shares of the company’s stock valued at $877,000 after purchasing an additional 2,025 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.

Wall Street Analysts Forecast Growth

BWIN has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Baldwin Insurance Group in a research note on Wednesday, October 8th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $33.00 price objective (down from $38.00) on shares of Baldwin Insurance Group in a report on Monday, October 13th. Wells Fargo & Company decreased their target price on shares of Baldwin Insurance Group from $28.00 to $24.00 and set an “underweight” rating on the stock in a report on Wednesday. Wall Street Zen cut shares of Baldwin Insurance Group from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Baldwin Insurance Group from $41.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Baldwin Insurance Group presently has an average rating of “Hold” and an average price target of $37.00.

Baldwin Insurance Group Company 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.