Baldwin Insurance Group (NASDAQ:BWIN) Shares Gap Up – Still a Buy?

Baldwin Insurance Group, Inc. (NASDAQ:BWIN)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $22.03, but opened at $23.25. Baldwin Insurance Group shares last traded at $22.4350, with a volume of 159,983 shares trading hands.

Analyst Upgrades and Downgrades

BWIN has been the topic of several recent analyst reports. Wall Street Zen raised Baldwin Insurance Group from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. UBS Group reduced 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. Keefe, Bruyette & Woods reduced their target price on Baldwin Insurance Group from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Baldwin Insurance Group in a research report on Friday, March 27th. Finally, Zacks Research lowered Baldwin Insurance Group from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.25.

Baldwin Insurance Group Trading Down 3.2%

The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.16 and a current ratio of 1.08. The company has a 50 day simple moving average of $22.09 and a two-hundred day simple moving average of $23.20. The firm has a market cap of $2.94 billion, a PE ratio of 21.06, a P/E/G ratio of 0.82 and a beta of 1.23.

Baldwin Insurance Group (NASDAQ:BWIN) last posted 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 firm had revenue of $532.24 million for the quarter, compared to analysts’ expectations of $524.07 million. Baldwin Insurance Group had a negative net margin of 2.80% and a positive return on equity of 12.35%. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. Analysts expect that Baldwin Insurance Group, Inc. will post 1.27 EPS for the current fiscal year.

Insider Activity

In other news, Director Paul Eugene Sparks purchased 15,200 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were acquired at an average price of $22.10 per share, for a total transaction of $335,920.00. Following the purchase, the director owned 996,706 shares in the company, valued at $22,027,202.60. This trade represents a 1.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $2,549,723.75. The disclosure for this sale is available in the SEC filing. 18.51% of the stock is currently owned by insiders.

Institutional Trading of Baldwin Insurance Group

A number of hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC boosted its stake in shares of Baldwin Insurance Group by 47.8% in the fourth quarter. William Blair Investment Management LLC now owns 7,543,813 shares of the company’s stock worth $181,278,000 after buying an additional 2,439,118 shares during the last quarter. Vanguard Group Inc. boosted 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 worth $164,651,000 after buying an additional 287,241 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Baldwin Insurance Group by 36.3% in the first quarter. Bank of New York Mellon Corp now owns 3,918,087 shares of the company’s stock worth $85,963,000 after buying an additional 1,044,200 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Baldwin Insurance Group by 20.3% in the third quarter. Champlain Investment Partners LLC now owns 3,915,879 shares of the company’s stock worth $110,467,000 after buying an additional 659,433 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of Baldwin Insurance Group by 15.0% in the fourth quarter. Capital International Investors now owns 3,618,132 shares of the company’s stock worth $86,944,000 after buying an additional 472,703 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

About Baldwin Insurance Group

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.