Keefe, Bruyette & Woods Lowers Baldwin Insurance Group (NASDAQ:BWIN) Price Target to $26.00

Baldwin Insurance Group (NASDAQ:BWIN) had its target price decreased by equities researchers at Keefe, Bruyette & Woods from $29.00 to $26.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 20.83% from the company’s previous close.

A number of other research firms also recently commented on BWIN. UBS Group decreased their target price on Baldwin Insurance Group from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. JPMorgan Chase & Co. cut their price target on Baldwin Insurance Group from $33.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, January 7th. TD Cowen assumed coverage on shares of Baldwin Insurance Group in a research report on Wednesday, February 25th. They issued a “buy” rating on the stock. Wells Fargo & Company decreased their price objective on shares of Baldwin Insurance Group from $27.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, February 27th. Finally, Jefferies Financial Group restated a “hold” rating and set a $28.00 target price 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 assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Baldwin Insurance Group currently has an average rating of “Hold” and an average target price of $29.43.

Baldwin Insurance Group Price Performance

Baldwin Insurance Group stock traded down $0.61 during mid-day trading on Tuesday, reaching $21.52. The company had a trading volume of 449,513 shares, compared to its average volume of 1,704,890. The stock’s 50-day simple moving average is $20.26 and its 200-day simple moving average is $23.88. Baldwin Insurance Group has a 1 year low of $15.88 and a 1 year high of $45.16. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $3.07 billion, a P/E ratio of -43.87, a P/E/G ratio of 0.84 and a beta of 1.30.

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

Insiders Place Their Bets

In related news, Director Paul Eugene Sparks acquired 15,200 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was purchased at an average price of $22.10 per share, for a total transaction of $335,920.00. Following the transaction, the director owned 996,706 shares in the company, valued at $22,027,202.60. This trade represents a 1.55% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Elizabeth Krystyn sold 119,987 shares of the business’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. 18.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Baldwin Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of the company. William Blair Investment Management LLC boosted 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 acquiring an additional 2,439,118 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of Baldwin Insurance Group by 20.3% during the 3rd quarter. Champlain Investment Partners LLC now owns 3,915,879 shares of the company’s stock worth $110,467,000 after purchasing an additional 659,433 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Baldwin Insurance Group by 25.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,873,887 shares of the company’s stock worth $69,060,000 after purchasing an additional 579,936 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Baldwin Insurance Group by 1,376.4% during the fourth quarter. MetLife Investment Management LLC now owns 619,292 shares of the company’s stock worth $14,882,000 after purchasing an additional 577,345 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Baldwin Insurance Group during the third quarter worth $14,177,000. Hedge funds and other institutional investors own 77.49% 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.