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

Baldwin Insurance Group (NASDAQ:BWIN) had its price objective hoisted by analysts at Wells Fargo & Company from $25.00 to $27.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 5.20% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. UBS Group dropped their price objective on shares of Baldwin Insurance Group from $52.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Wall Street Zen lowered Baldwin Insurance Group from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Jefferies Financial Group reiterated a “hold” rating and issued a $28.00 price target on shares of Baldwin Insurance Group in a report on Monday, December 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Baldwin Insurance Group in a research note on Monday, December 29th. Finally, BMO Capital Markets lowered their target price on shares of Baldwin Insurance Group from $34.00 to $33.00 and set a “market perform” rating for the company in a research note on Thursday, December 4th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.83.

Baldwin Insurance Group Stock Down 0.6%

Shares of BWIN traded down $0.15 during midday trading on Tuesday, reaching $25.67. 58,707 shares of the stock were exchanged, compared to its average volume of 1,066,900. Baldwin Insurance Group has a 52 week low of $21.26 and a 52 week high of $47.15. 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’s 50 day moving average is $25.50 and its two-hundred day moving average is $30.02. The company has a market capitalization of $3.05 billion, a P/E ratio of -59.66, a PEG ratio of 0.92 and a beta of 1.38.

Baldwin Insurance Group (NASDAQ:BWIN) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. Baldwin Insurance Group had a positive return on equity of 12.65% and a negative net margin of 1.89%.The firm had revenue of $365.39 million during the quarter, compared to the consensus estimate of $364.14 million. During the same period in the previous year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts anticipate that Baldwin Insurance Group will post 1.01 earnings per share for the current year.

Insider Buying and Selling

In related news, insider James Morgan Roche sold 80,000 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $24.03, for a total transaction of $1,922,400.00. Following the completion of the transaction, the insider owned 42,113 shares of the company’s stock, valued at $1,011,975.39. This trade represents a 65.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 255,000 shares of company stock valued at $6,119,000 in the last 90 days. 20.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. New York State Common Retirement Fund grew its holdings in Baldwin Insurance Group by 422.6% in the second quarter. New York State Common Retirement Fund now owns 257,384 shares of the company’s stock valued at $11,019,000 after purchasing an additional 208,137 shares during the period. Fenimore Asset Management Inc grew its stake in Baldwin Insurance Group by 44.3% in the 3rd quarter. Fenimore Asset Management Inc now owns 507,057 shares of the company’s stock valued at $14,304,000 after acquiring an additional 155,654 shares during the period. Westwood Holdings Group Inc. increased its holdings in Baldwin Insurance Group by 8.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,920,530 shares of the company’s stock worth $82,218,000 after acquiring an additional 142,506 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Baldwin Insurance Group by 14.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 111,765 shares of the company’s stock worth $4,785,000 after acquiring an additional 13,987 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Baldwin Insurance Group by 84.0% during the second quarter. Envestnet Asset Management Inc. now owns 201,557 shares of the company’s stock worth $8,629,000 after acquiring an additional 91,991 shares during the period. 77.49% of the stock is owned by institutional investors and hedge funds.

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.