Baldwin Insurance Group, Inc. (NASDAQ:BWIN) Receives $28.89 Consensus Target Price from Brokerages

Baldwin Insurance Group, Inc. (NASDAQ:BWIN) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $28.8889.

A number of analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Baldwin Insurance Group from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Morgan Stanley set a $28.00 price objective on shares of Baldwin Insurance Group in a research note on Monday, June 22nd. BMO Capital Markets raised their target price on shares of Baldwin Insurance Group from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Tuesday, June 23rd. Zacks Research raised shares of Baldwin Insurance Group from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Baldwin Insurance Group in a research report on Monday, June 15th.

Baldwin Insurance Group Stock Up 5.6%

Shares of NASDAQ BWIN opened at $28.41 on Friday. Baldwin Insurance Group has a 12-month low of $15.88 and a 12-month high of $43.64. The stock’s fifty day simple moving average is $21.39 and its two-hundred day simple moving average is $21.94. The stock has a market capitalization of $4.05 billion, a PE ratio of -42.40, a price-to-earnings-growth ratio of 0.95 and a beta of 1.08. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.51.

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 analysts’ consensus estimates of $0.64 by ($0.01). Baldwin Insurance Group had a positive return on equity of 12.35% and a negative net margin of 2.80%.The company had revenue of $532.24 million for the quarter, compared to analysts’ expectations of $524.07 million. During the same quarter last year, the company earned $0.65 earnings per share. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. As a group, analysts expect that Baldwin Insurance Group will post 1.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Elizabeth Krystyn sold 130,018 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $21.20, for a total transaction of $2,756,381.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 18.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Baldwin Insurance Group

Several hedge funds have recently modified their holdings of BWIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Baldwin Insurance Group by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,166 shares of the company’s stock worth $1,795,000 after purchasing an additional 2,309 shares in the last quarter. Millennium Management LLC increased its stake in Baldwin Insurance Group by 371.9% during the 1st quarter. Millennium Management LLC now owns 254,734 shares of the company’s stock valued at $11,384,000 after purchasing an additional 200,754 shares in the last quarter. NewEdge Advisors LLC increased its stake in Baldwin Insurance Group by 6.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,075 shares of the company’s stock valued at $495,000 after purchasing an additional 700 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Baldwin Insurance Group by 3.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 379,601 shares of the company’s stock valued at $16,964,000 after purchasing an additional 13,058 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Baldwin Insurance Group by 6.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 189,643 shares of the company’s stock worth $8,475,000 after buying an additional 11,768 shares during the last quarter. Institutional investors and hedge funds 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.