Harbor Capital Advisors Inc. Cuts Holdings in Baldwin Insurance Group, Inc. $BWIN

Harbor Capital Advisors Inc. decreased its holdings in Baldwin Insurance Group, Inc. (NASDAQ:BWIN) by 53.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,568 shares of the company’s stock after selling 26,828 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Baldwin Insurance Group were worth $566,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dorato Capital Management purchased a new position in shares of Baldwin Insurance Group in the 4th quarter valued at $35,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Baldwin Insurance Group during the 3rd quarter worth $39,000. AlphaQuest LLC boosted its position in Baldwin Insurance Group by 249.2% during the third quarter. AlphaQuest LLC now owns 1,952 shares of the company’s stock valued at $55,000 after purchasing an additional 1,393 shares in the last quarter. Strs Ohio bought a new stake in Baldwin Insurance Group during the first quarter valued at about $72,000. Finally, CIBC Bancorp USA Inc. purchased a new position in Baldwin Insurance Group in the third quarter valued at about $211,000. Institutional investors own 77.49% of the company’s stock.

Baldwin Insurance Group Price Performance

Shares of BWIN stock opened at $22.13 on Tuesday. Baldwin Insurance Group, Inc. has a fifty-two week low of $15.88 and a fifty-two week high of $45.16. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -45.16, a PEG ratio of 0.84 and a beta of 1.30. The stock’s 50-day simple moving average is $20.26 and its 200-day simple moving average is $23.88.

Baldwin Insurance Group (NASDAQ:BWIN) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. The firm had revenue of $347.28 million during the quarter, compared to analyst estimates of $351.75 million. Baldwin Insurance Group had a negative net margin of 2.25% and a positive return on equity of 12.60%. Baldwin Insurance Group’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS. As a group, equities analysts forecast that Baldwin Insurance Group, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on BWIN. Zacks Research downgraded shares of Baldwin Insurance Group from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. UBS Group lowered their price target on shares of Baldwin Insurance Group from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $28.00 price objective on shares of Baldwin Insurance Group in a research report on Monday, December 15th. Wells Fargo & Company reduced their price objective on shares of Baldwin Insurance Group from $27.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Baldwin Insurance Group in a research report on Friday, March 27th. One research 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 stock. According to MarketBeat, Baldwin Insurance Group currently has a consensus rating of “Hold” and an average target price of $30.00.

Insiders Place Their Bets

In related news, Director Paul Eugene Sparks acquired 29,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were purchased at an average cost of $22.96 per share, with a total value of $665,840.00. Following the completion of the acquisition, the director directly owned 981,506 shares of the company’s stock, valued at $22,535,377.76. This represents a 3.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value of $2,549,723.75. The SEC filing for this sale provides additional information. Company insiders own 18.51% of the company’s stock.

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.