Wells Fargo & Company Boosts Baldwin Insurance Group (NASDAQ:BWIN) Price Target to $23.00

Baldwin Insurance Group (NASDAQ:BWIN) had its price objective lifted by equities researchers at Wells Fargo & Company from $21.00 to $23.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 5.07% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Raymond James Financial upgraded shares of Baldwin Insurance Group from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $20.00 to $30.00 in a report on Friday, February 27th. UBS Group reduced their target price on shares of Baldwin Insurance Group from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, March 9th. JPMorgan Chase & Co. decreased their target price on Baldwin Insurance Group from $33.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 7th. TD Cowen started coverage on Baldwin Insurance Group in a research note on Wednesday, February 25th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $28.00 price target on shares of Baldwin Insurance Group in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.71.

Baldwin Insurance Group Stock Performance

Shares of BWIN traded down $0.87 during mid-day trading on Thursday, hitting $21.89. The company’s stock had a trading volume of 131,849 shares, compared to its average volume of 1,686,971. Baldwin Insurance Group has a one year low of $15.88 and a one year 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 $3.13 billion, a PE ratio of -44.64, a price-to-earnings-growth ratio of 0.84 and a beta of 1.30. The stock’s 50-day moving average is $20.20 and its two-hundred day moving average is $23.81.

Baldwin Insurance Group (NASDAQ:BWIN) last announced its earnings results on Thursday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Baldwin Insurance Group had a negative net margin of 2.25% and a positive return on equity of 12.60%. The business had revenue of $347.28 million for the quarter, compared to analyst estimates of $351.75 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Baldwin Insurance Group’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Baldwin Insurance Group will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other Baldwin Insurance Group news, Director Paul Eugene Sparks bought 29,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average price of $22.96 per share, with a total value of $665,840.00. Following the completion of the purchase, the director directly owned 981,506 shares in the company, valued at $22,535,377.76. The trade was a 3.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Elizabeth Krystyn sold 119,987 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $21.25, for a total transaction of $2,549,723.75. The SEC filing for this sale provides additional information. Corporate insiders own 18.51% of the company’s stock.

Institutional Investors Weigh In On Baldwin Insurance Group

A number of institutional investors have recently added to or reduced their stakes in BWIN. Fenimore Asset Management Inc increased its position in shares of Baldwin Insurance Group by 44.3% during the 3rd quarter. Fenimore Asset Management Inc now owns 507,057 shares of the company’s stock worth $14,304,000 after purchasing an additional 155,654 shares in the last quarter. Capital World Investors lifted its holdings in Baldwin Insurance Group by 24.8% during the 3rd quarter. Capital World Investors now owns 1,259,949 shares of the company’s stock valued at $35,543,000 after purchasing an additional 250,000 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in Baldwin Insurance Group by 8.0% in the second quarter. Westwood Holdings Group Inc. now owns 1,920,530 shares of the company’s stock valued at $82,218,000 after buying an additional 142,506 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Baldwin Insurance Group by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 1,514,115 shares of the company’s stock valued at $42,713,000 after buying an additional 158,199 shares in the last quarter. Finally, Aristotle Capital Boston LLC grew its stake in Baldwin Insurance Group by 53.6% during the third quarter. Aristotle Capital Boston LLC now owns 655,965 shares of the company’s stock worth $18,505,000 after buying an additional 228,940 shares during the last quarter. 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.