Bank of America Cuts Baldwin Insurance Group (NASDAQ:BWIN) Price Target to $36.00

Baldwin Insurance Group (NASDAQ:BWIN) had its price objective decreased by Bank of America from $38.00 to $36.00 in a research note released on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. UBS Group cut their price target on shares of Baldwin Insurance Group from $44.00 to $40.00 and set a “buy” rating for the company in a report on Monday, March 9th. TD Cowen initiated coverage on shares of Baldwin Insurance Group in a research report on Wednesday, February 25th. They set a “buy” rating on the stock. Wall Street Zen raised shares of Baldwin Insurance Group from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Wells Fargo & Company lifted their price target on shares of Baldwin Insurance Group from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. Finally, Raymond James Financial raised 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 note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Baldwin Insurance Group has a consensus rating of “Hold” and an average price target of $30.13.

Baldwin Insurance Group Stock Up 5.3%

Baldwin Insurance Group stock opened at $24.03 on Tuesday. The stock’s 50 day moving average price is $20.39 and its 200 day moving average price is $23.56. Baldwin Insurance Group has a 1-year low of $15.88 and a 1-year high of $45.16. The company has a market cap of $3.43 billion, a PE ratio of -49.04, a price-to-earnings-growth ratio of 0.88 and a beta of 1.30. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.16 and a quick ratio of 1.16.

Baldwin Insurance Group (NASDAQ:BWIN) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. The firm had revenue of $347.28 million during the quarter, compared to analysts’ expectations of $351.75 million. Baldwin Insurance Group had a positive return on equity of 12.60% and a negative net margin of 2.25%.Baldwin Insurance Group’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. On average, sell-side analysts predict that Baldwin Insurance Group will post 1.01 EPS for the current fiscal year.

Insider Activity

In related news, 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Paul Eugene Sparks acquired 15,200 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was acquired at an average cost of $22.10 per share, for a total transaction of $335,920.00. Following the completion of the purchase, the director owned 996,706 shares in the company, valued at $22,027,202.60. The trade was a 1.55% increase in their position. The SEC filing for this purchase provides additional information. 18.51% of the stock is owned by insiders.

Institutional Trading of Baldwin Insurance Group

Several large investors have recently modified their holdings of BWIN. Larson Financial Group LLC increased 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 purchasing an additional 1,053 shares in the last quarter. 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. Wealth Preservation Advisors LLC purchased a new position in Baldwin Insurance Group during the fourth quarter worth $46,000. Finally, AlphaQuest LLC increased its position in Baldwin Insurance Group by 249.2% during the third quarter. AlphaQuest LLC now owns 1,952 shares of the company’s stock worth $55,000 after buying an additional 1,393 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

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.