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

Baldwin Insurance Group, Inc. (NASDAQ:BWIN) shares gapped up before the market opened on Friday after Wells Fargo & Company upgraded the stock from an underweight rating to an equal weight rating. The stock had previously closed at $23.30, but opened at $24.24. Wells Fargo & Company now has a $25.00 price target on the stock. Baldwin Insurance Group shares last traded at $24.5910, with a volume of 194,515 shares trading hands.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded Baldwin Insurance Group from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Zacks Research upgraded Baldwin Insurance Group from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Baldwin Insurance Group in a research report on Wednesday, October 8th. UBS Group reduced their target price on shares of Baldwin Insurance Group from $52.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Baldwin Insurance Group from $41.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $38.57.

Insider Buying and Selling at Baldwin Insurance Group

In related news, insider James Morgan Roche sold 15,000 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $25.08, for a total transaction of $376,200.00. Following the sale, the insider owned 42,113 shares of the company’s stock, valued at $1,056,194.04. This trade represents a 26.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 18.51% of the stock is owned by company insiders.

Institutional Trading of Baldwin Insurance Group

Several hedge funds have recently modified their holdings of BWIN. American Century Companies Inc. lifted its holdings in Baldwin Insurance Group by 561.6% in the first quarter. American Century Companies Inc. now owns 451,360 shares of the company’s stock valued at $20,171,000 after acquiring an additional 383,137 shares during the period. HighTower Advisors LLC acquired a new stake in Baldwin Insurance Group in the 1st quarter worth about $1,860,000. Invesco Ltd. boosted its stake in shares of Baldwin Insurance Group by 794.2% in the first quarter. Invesco Ltd. now owns 556,775 shares of the company’s stock worth $24,882,000 after acquiring an additional 494,508 shares during the last quarter. Comerica Bank increased its position in shares of Baldwin Insurance Group by 33.3% during the first quarter. Comerica Bank now owns 79,111 shares of the company’s stock worth $3,535,000 after purchasing an additional 19,762 shares in the last quarter. Finally, LPL Financial LLC raised its stake in Baldwin Insurance Group by 9.8% in the 1st quarter. LPL Financial LLC now owns 73,629 shares of the company’s stock valued at $3,096,000 after purchasing an additional 6,583 shares during the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

Baldwin Insurance Group Price Performance

The firm has a market cap of $2.86 billion, a PE ratio of -56.00, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.15 and a quick ratio of 1.15. The stock’s fifty day moving average price is $25.67 and its 200-day moving average price is $32.29.

Baldwin Insurance Group (NASDAQ:BWIN) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. Baldwin Insurance Group had a positive return on equity of 12.65% and a negative net margin of 1.89%.The firm had revenue of $365.39 million for the quarter, compared to the consensus estimate of $364.14 million. During the same quarter last year, the business posted $0.33 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts expect that Baldwin Insurance Group, Inc. will post 1.01 EPS for the current fiscal year.

About Baldwin Insurance Group

The Baldwin Insurance Group, Inc operates as an independent insurance distribution firm that delivers insurance and risk management solutions in the United States. It operates through three segments: Insurance Advisory Solutions; Underwriting, Capacity & Technology Solutions; and Mainstreet Insurance Solutions.