Baldwin Insurance Group (NASDAQ:BWIN) Stock Price Up 7.2% on Analyst Upgrade

Shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN) shot up 7.2% on Tuesday after BMO Capital Markets raised their price target on the stock from $23.00 to $25.00. BMO Capital Markets currently has a market perform rating on the stock. Baldwin Insurance Group traded as high as $25.23 and last traded at $25.22. 576,084 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 1,645,091 shares. The stock had previously closed at $23.52.

Several other research firms have also recently commented on BWIN. Wells Fargo & Company raised their target price on Baldwin Insurance Group from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. Morgan Stanley set a $28.00 price target on Baldwin Insurance Group in a research note on Monday. Zacks Research upgraded Baldwin Insurance Group from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Baldwin Insurance Group in a research report on Friday, March 27th. Finally, Raymond James Financial upgraded shares of Baldwin Insurance Group from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $20.00 to $30.00 in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Baldwin Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.89.

Insider Buying and Selling

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

Hedge Funds Weigh In On Baldwin Insurance Group

A number of institutional investors have recently modified their holdings of BWIN. William Blair Investment Management LLC grew its position in Baldwin Insurance Group by 47.8% in the 4th quarter. William Blair Investment Management LLC now owns 7,543,813 shares of the company’s stock valued at $181,278,000 after purchasing an additional 2,439,118 shares during the period. Vanguard Group Inc. lifted its stake in shares of Baldwin Insurance Group by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 6,851,874 shares of the company’s stock valued at $164,651,000 after buying an additional 287,241 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Baldwin Insurance Group by 36.3% during the first 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 last quarter. Champlain Investment Partners LLC grew its holdings in shares of Baldwin Insurance Group by 20.3% during the third 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 last quarter. Finally, Capital International Investors increased its position in shares of Baldwin Insurance Group by 15.0% during the fourth quarter. Capital International Investors now owns 3,618,132 shares of the company’s stock worth $86,944,000 after acquiring an additional 472,703 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

Baldwin Insurance Group Trading Up 7.4%

The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.60 billion, a P/E ratio of -37.65, a P/E/G ratio of 0.72 and a beta of 1.16. The firm’s 50-day moving average price is $21.04 and its 200 day moving average price is $21.83.

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