Baldwin Insurance Group (NASDAQ:BWIN) Trading Down 4.4% – Here’s What Happened

Baldwin Insurance Group, Inc. (NASDAQ:BWIN) shares dropped 4.4% during trading on Wednesday . The company traded as low as $21.35 and last traded at $21.1140. Approximately 239,421 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,696,870 shares. The stock had previously closed at $22.09.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BWIN shares. Wells Fargo & Company lowered their price target on Baldwin Insurance Group from $27.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, February 27th. UBS Group reduced their price objective on shares of Baldwin Insurance Group from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, March 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Baldwin Insurance Group in a report on Monday, December 29th. Wall Street Zen upgraded shares of Baldwin Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Baldwin Insurance Group from $33.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.00.

Baldwin Insurance Group Price Performance

The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $3.06 billion, a PE ratio of -43.61, a P/E/G ratio of 0.84 and a beta of 1.30. The company’s 50-day simple moving average is $21.05 and its 200-day simple moving average is $24.47.

Baldwin Insurance Group (NASDAQ:BWIN) last announced its earnings results on Thursday, February 26th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $347.28 million during the quarter, compared to analysts’ expectations of $351.75 million. Baldwin Insurance Group had a negative net margin of 2.25% and a positive return on equity of 12.60%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share. As a group, sell-side analysts anticipate that Baldwin Insurance Group, Inc. will post 1.01 earnings per share for the current year.

Insider Buying and Selling

In other Baldwin Insurance Group news, major shareholder Elizabeth Krystyn sold 119,987 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $21.25, for a total value of $2,549,723.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Eugene Sparks bought 29,000 shares of Baldwin Insurance Group stock in a transaction dated Monday, March 2nd. The stock was purchased at an average price of $22.96 per share, with a total value of $665,840.00. Following the purchase, the director directly owned 981,506 shares in the company, valued at approximately $22,535,377.76. This trade represents a 3.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 20.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BWIN. Larson Financial Group LLC lifted its position in Baldwin Insurance Group by 666.5% in the fourth quarter. Larson Financial Group LLC now owns 1,211 shares of the company’s stock valued at $29,000 after purchasing an additional 1,053 shares during the period. Dorato Capital Management purchased a new position in shares of Baldwin Insurance Group during the 4th quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Baldwin Insurance Group in the 3rd quarter valued at approximately $39,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Baldwin Insurance Group in the fourth quarter valued at approximately $46,000. Finally, AlphaQuest LLC boosted its stake in shares of Baldwin Insurance Group by 249.2% in the third quarter. AlphaQuest LLC now owns 1,952 shares of the company’s stock valued at $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.