Baldwin Insurance Group, Inc. $BWIN Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its stake in shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN) by 45.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 98,480 shares of the company’s stock after selling 81,039 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Baldwin Insurance Group were worth $2,161,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Baldwin Insurance Group by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,166 shares of the company’s stock valued at $1,795,000 after acquiring an additional 2,309 shares during the last quarter. Millennium Management LLC grew its stake in shares of Baldwin Insurance Group by 371.9% in the 1st quarter. Millennium Management LLC now owns 254,734 shares of the company’s stock valued at $11,384,000 after purchasing an additional 200,754 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Baldwin Insurance Group by 6.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,075 shares of the company’s stock valued at $495,000 after purchasing an additional 700 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Baldwin Insurance Group by 3.6% in the first quarter. Goldman Sachs Group Inc. now owns 379,601 shares of the company’s stock valued at $16,964,000 after purchasing an additional 13,058 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Baldwin Insurance Group by 6.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 189,643 shares of the company’s stock worth $8,475,000 after purchasing an additional 11,768 shares during the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Insider Activity

In related news, major shareholder Elizabeth Krystyn sold 130,018 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were 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 accessible through the SEC website. 15.80% of the stock is owned by corporate insiders.

Baldwin Insurance Group Stock Performance

NASDAQ:BWIN opened at $26.50 on Monday. The stock has a fifty day moving average price of $21.69 and a two-hundred day moving average price of $22.10. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -39.55, a PEG ratio of 0.94 and a beta of 1.08. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.08 and a current ratio of 1.08. Baldwin Insurance Group, Inc. has a 1 year low of $15.88 and a 1 year high of $43.64.

Baldwin Insurance Group (NASDAQ:BWIN) last issued its earnings results on Monday, May 4th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $532.24 million for 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 revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. As a group, sell-side analysts anticipate that Baldwin Insurance Group, Inc. will post 1.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BWIN shares. Bank of America lowered 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 research report on Tuesday, April 14th. UBS Group cut their price objective on shares of Baldwin Insurance Group from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, June 9th. Weiss Ratings upgraded shares of Baldwin Insurance Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Morgan Stanley set a $28.00 target price on shares of Baldwin Insurance Group in a report on Monday, June 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Baldwin Insurance Group from $26.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.78.

Baldwin Insurance Group 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.