Baldwin Insurance Group (NASDAQ:BWIN) Shares Gap Up on Analyst Upgrade

Baldwin Insurance Group, Inc. (NASDAQ:BWIN)’s stock price gapped up before the market opened on Monday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $20.24, but opened at $22.82. JPMorgan Chase & Co. now has a $28.00 price target on the stock, up from their previous price target of $25.00. Baldwin Insurance Group shares last traded at $23.8980, with a volume of 470,191 shares traded.

A number of other equities analysts have also weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Baldwin Insurance Group in a research note on Friday, March 27th. Bank of America reduced their price target on Baldwin Insurance Group from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Wells Fargo & Company increased their price objective on Baldwin Insurance Group from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Keefe, Bruyette & Woods dropped their target price on Baldwin Insurance Group from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Finally, UBS Group dropped their target price on Baldwin Insurance Group from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.78.

Insider Buying and Selling

In other Baldwin Insurance Group news, major shareholder Elizabeth Krystyn sold 130,018 shares of Baldwin Insurance Group stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $21.20, for a total value of $2,756,381.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 20.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BWIN. William Blair Investment Management LLC lifted its position in Baldwin Insurance Group by 47.8% during the fourth quarter. William Blair Investment Management LLC now owns 7,543,813 shares of the company’s stock worth $181,278,000 after purchasing an additional 2,439,118 shares during the period. Vanguard Group Inc. grew its stake in Baldwin Insurance Group by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 6,851,874 shares of the company’s stock worth $164,651,000 after buying an additional 287,241 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Baldwin Insurance Group by 36.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,918,087 shares of the company’s stock valued at $85,963,000 after buying an additional 1,044,200 shares during the period. Champlain Investment Partners LLC increased its holdings in Baldwin Insurance Group by 20.3% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,915,879 shares of the company’s stock valued at $110,467,000 after buying an additional 659,433 shares during the period. Finally, Capital International Investors raised its position in shares of Baldwin Insurance Group by 15.0% in the 4th quarter. Capital International Investors now owns 3,618,132 shares of the company’s stock valued at $86,944,000 after buying an additional 472,703 shares in the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Baldwin Insurance Group Stock Up 15.9%

The firm’s 50-day moving average price is $21.01 and its 200 day moving average price is $21.85. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of -35.42, a PEG ratio of 0.72 and a beta of 1.16.

Baldwin Insurance Group (NASDAQ:BWIN) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $532.24 million for the quarter, compared to analyst estimates of $524.07 million. Baldwin Insurance Group had a positive return on equity of 12.35% and a negative net margin of 2.80%.The business’s revenue was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 EPS. On average, sell-side analysts forecast that Baldwin Insurance Group, Inc. will post 1.38 EPS for the current fiscal year.

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.