Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.42, Briefing.com reports. The firm had revenue of $378.81 million for the quarter, compared to analysts' expectations of $375.38 million. Baldwin Insurance Group had a positive return on equity of 12.57% and a negative net margin of 2.26%. The company's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share.
Baldwin Insurance Group Stock Up 1.2%
Shares of NASDAQ BWIN opened at $36.46 on Wednesday. Baldwin Insurance Group has a 52-week low of $34.22 and a 52-week high of $55.82. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of -70.12, a price-to-earnings-growth ratio of 1.40 and a beta of 1.66. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.43. The company's 50-day simple moving average is $39.86 and its 200-day simple moving average is $40.71.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on BWIN. BMO Capital Markets dropped their price target on Baldwin Insurance Group from $51.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Jefferies Financial Group boosted their target price on shares of Baldwin Insurance Group from $41.00 to $42.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Wells Fargo & Company boosted their target price on shares of Baldwin Insurance Group from $34.00 to $36.00 and gave the company an "underweight" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $45.00 target price (up previously from $39.00) on shares of Baldwin Insurance Group in a report on Tuesday, April 8th. Finally, Wall Street Zen downgraded shares of Baldwin Insurance Group from a "hold" rating to a "sell" rating in a report on Monday, July 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Baldwin Insurance Group has a consensus rating of "Hold" and a consensus target price of $45.17.
Read Our Latest Stock Report on BWIN
Insider Buying and Selling at Baldwin Insurance Group
In other news, insider James Morgan Roche sold 26,679 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $40.07, for a total value of $1,069,027.53. Following the completion of the sale, the insider owned 42,113 shares of the company's stock, valued at $1,687,467.91. This represents a 38.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Trevor Baldwin sold 117,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $39.83, for a total transaction of $4,660,110.00. Following the completion of the transaction, the chief executive officer owned 27,676 shares in the company, valued at approximately $1,102,335.08. This represents a 80.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 451,380 shares of company stock worth $17,731,131 in the last 90 days. 20.14% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Baldwin Insurance Group
A number of large investors have recently modified their holdings of BWIN. Strs Ohio purchased a new position in shares of Baldwin Insurance Group in the 1st quarter valued at $72,000. NewEdge Advisors LLC grew its position in Baldwin Insurance Group by 6.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,075 shares of the company's stock worth $495,000 after purchasing an additional 700 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Baldwin Insurance Group by 6.1% during 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Baldwin Insurance Group by 6.6% during the 1st 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 purchasing an additional 11,768 shares during the last quarter. Finally, Millennium Management LLC grew its position in Baldwin Insurance Group by 371.9% during the 1st quarter. Millennium Management LLC now owns 254,734 shares of the company's stock worth $11,384,000 after purchasing an additional 200,754 shares during the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.
Baldwin Insurance Group Company Profile
(
Get Free Report)
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.
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