Baldwin Insurance Group (NASDAQ:BWIN) Given New $40.00 Price Target at UBS Group

Baldwin Insurance Group (NASDAQ:BWIN) had its target price cut by equities research analysts at UBS Group from $44.00 to $40.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 99.90% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Raymond James Financial upgraded Baldwin Insurance Group from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $20.00 to $30.00 in a research note on Friday, February 27th. Wells Fargo & Company cut their target price on shares of Baldwin Insurance Group from $27.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Baldwin Insurance Group in a report on Monday, December 29th. Jefferies Financial Group reiterated a “hold” rating and issued a $28.00 price target on shares of Baldwin Insurance Group in a research note on Monday, December 15th. Finally, Zacks Research downgraded shares of Baldwin Insurance Group from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Baldwin Insurance Group Stock Down 4.9%

Shares of NASDAQ BWIN traded down $1.02 during mid-day trading on Monday, hitting $20.01. The company had a trading volume of 2,024,113 shares, compared to its average volume of 1,589,504. The company has a market capitalization of $2.37 billion, a PE ratio of -40.84, a price-to-earnings-growth ratio of 0.76 and a beta of 1.30. 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 1-year low of $15.88 and a 1-year high of $47.15. The business’s 50-day simple moving average is $22.00 and its 200 day simple moving average is $25.40.

Baldwin Insurance Group (NASDAQ:BWIN) last released its earnings results on Thursday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Baldwin Insurance Group had a positive return on equity of 12.60% and a negative net margin of 2.25%.The firm had revenue of $347.28 million during the quarter, compared to analyst estimates of $351.75 million. During the same period last year, the business posted $0.27 earnings per share. Baldwin Insurance Group’s revenue was up 5.3% compared to the same quarter last year. On average, analysts predict 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 Baldwin Insurance Group 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 sale, the insider directly owned 42,113 shares in the company, valued at $1,011,975.39. This trade represents a 65.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Elizabeth Krystyn sold 119,987 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $21.25, for a total transaction of $2,549,723.75. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 359,987 shares of company stock worth $8,292,524 in the last ninety days. 20.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Baldwin Insurance Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BWIN. New York State Common Retirement Fund grew its position in Baldwin Insurance Group by 422.6% in the 2nd quarter. New York State Common Retirement Fund now owns 257,384 shares of the company’s stock valued at $11,019,000 after buying an additional 208,137 shares during the last quarter. Fenimore Asset Management Inc lifted its position in Baldwin Insurance Group by 44.3% in the third quarter. Fenimore Asset Management Inc now owns 507,057 shares of the company’s stock valued at $14,304,000 after purchasing an additional 155,654 shares during the period. Westwood Holdings Group Inc. increased its position in Baldwin Insurance Group by 8.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,920,530 shares of the company’s stock worth $82,218,000 after purchasing an additional 142,506 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Baldwin Insurance Group by 84.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 201,557 shares of the company’s stock worth $8,629,000 after buying an additional 91,991 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Baldwin Insurance Group by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 866,083 shares of the company’s stock worth $37,077,000 after buying an additional 29,137 shares in the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

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.