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

Baldwin Insurance Group, Inc. (NASDAQ:BWIN) shares 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.

Other analysts have also issued research reports about the stock. Keefe, Bruyette & Woods cut their price objective on shares of 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. Zacks Research upgraded shares of Baldwin Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Raymond James Financial raised shares of Baldwin Insurance Group from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $20.00 to $30.00 in a research report on Friday, February 27th. UBS Group decreased their price objective 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. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Baldwin Insurance Group in a report on Friday, March 27th. One 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.com, Baldwin Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $29.78.

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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 20.14% of the company’s stock.

Institutional Trading of Baldwin Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of BWIN. Larson Financial Group LLC boosted its stake in shares of Baldwin Insurance Group by 666.5% during the 4th quarter. Larson Financial Group LLC now owns 1,211 shares of the company’s stock worth $29,000 after acquiring an additional 1,053 shares during the period. EverSource Wealth Advisors LLC raised its stake in Baldwin Insurance Group by 238.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,278 shares of the company’s stock valued at $28,000 after acquiring an additional 900 shares during the period. Dorato Capital Management acquired a new stake in Baldwin Insurance Group during the 4th quarter valued at $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in Baldwin Insurance Group during the 3rd quarter valued at $39,000. Finally, Strs Ohio bought a new position in Baldwin Insurance Group during the first quarter worth $72,000. Institutional investors own 77.49% of the company’s stock.

Baldwin Insurance Group Stock Performance

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

Baldwin Insurance Group (NASDAQ:BWIN) last issued its quarterly earnings data 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 company 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 for the quarter was up 28.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 earnings per share. Research analysts expect 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.