Royal Bank of Canada reduced its stake in Baldwin Insurance Group, Inc. (NASDAQ:BWIN – Free Report) by 13.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 778,281 shares of the company’s stock after selling 122,885 shares during the period. Royal Bank of Canada owned 0.55% of Baldwin Insurance Group worth $17,075,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of BWIN. Larson Financial Group LLC raised its stake in 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 in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Baldwin Insurance Group during the third quarter worth about $39,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Baldwin Insurance Group during the fourth quarter worth about $46,000. Strs Ohio acquired a new stake in shares of Baldwin Insurance Group during the first quarter worth about $72,000. Finally, KBC Group NV lifted its holdings in shares of Baldwin Insurance Group by 101.1% in the 1st quarter. KBC Group NV now owns 4,246 shares of the company’s stock valued at $93,000 after purchasing an additional 2,135 shares during the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.
Baldwin Insurance Group Stock Down 0.6%
BWIN opened at $28.60 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50 day simple moving average of $24.38 and a 200-day simple moving average of $22.37. The stock has a market capitalization of $4.08 billion, a P/E ratio of -27.50, a P/E/G ratio of 0.97 and a beta of 1.08. Baldwin Insurance Group, Inc. has a 12 month low of $15.88 and a 12 month high of $34.79.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on BWIN shares. UBS Group upped their target price on Baldwin Insurance Group from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Monday. Zacks Research upgraded Baldwin Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. BMO Capital Markets increased their price objective on Baldwin Insurance Group from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. raised their target price on shares of Baldwin Insurance Group from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Morgan Stanley set a $28.00 target price on shares of Baldwin Insurance Group in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.33.
Read Our Latest Stock Analysis on BWIN
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.
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