Baldwin Insurance Group (NASDAQ:BWIN) Stock Price Down 6.2% – Here’s What Happened

Shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN) fell 6.2% during trading on Wednesday . The stock traded as low as $17.72 and last traded at $17.5350. 691,262 shares were traded during trading, a decline of 56% from the average session volume of 1,580,173 shares. The stock had previously closed at $18.69.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BWIN. Keefe, Bruyette & Woods reduced their price objective on shares of Baldwin Insurance Group from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. TD Cowen reaffirmed a “buy” rating on shares of Baldwin Insurance Group in a research report on Monday. Bank of America dropped their price objective on shares of Baldwin Insurance Group from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Wells Fargo & Company upped their price objective on shares of Baldwin Insurance Group from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Finally, Raymond James Financial upgraded shares of Baldwin Insurance Group from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $20.00 to $30.00 in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $29.63.

Baldwin Insurance Group Trading Down 7.1%

The firm has a fifty day moving average price of $21.18 and a 200-day moving average price of $22.04. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $2.48 billion, a P/E ratio of -25.85, a price-to-earnings-growth ratio of 0.64 and a beta of 1.16.

Baldwin Insurance Group (NASDAQ:BWIN) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $532.24 million during the quarter, compared to analysts’ expectations of $524.07 million. Baldwin Insurance Group had a positive return on equity of 12.35% and a negative net margin of 2.80%.Baldwin Insurance Group’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. On average, equities research analysts anticipate that Baldwin Insurance Group, Inc. will post 1.38 earnings per share for the current year.

Insider Activity at Baldwin Insurance Group

In related news, major shareholder Elizabeth Krystyn sold 130,018 shares of Baldwin Insurance Group stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $21.20, for a total value of $2,756,381.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 20.14% of the company’s stock.

Institutional Trading of Baldwin Insurance Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC grew its position in Baldwin Insurance Group by 666.5% during the fourth quarter. Larson Financial Group LLC now owns 1,211 shares of the company’s stock worth $29,000 after buying an additional 1,053 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Baldwin Insurance Group by 238.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,278 shares of the company’s stock worth $28,000 after buying an additional 900 shares in the last quarter. Dorato Capital Management purchased a new position in Baldwin Insurance Group during the fourth quarter worth about $35,000. Caitong International Asset Management Co. Ltd purchased a new position in Baldwin Insurance Group during the third quarter worth about $39,000. Finally, Strs Ohio purchased a new position in Baldwin Insurance Group during the first quarter worth about $72,000. 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.