Baldwin Insurance Group (NASDAQ:BWIN) Price Target Cut to $28.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company has reduced its price target for Baldwin Insurance Group from $31.00 to $28.00, indicating a potential downside of 4.92% from the current stock price, along with an "underweight" rating.
• Other analysts have varied opinions, with Raymond James maintaining an "outperform" rating but lowering their price target to $40.00, while others have assigned hold or sell ratings.
• Baldwin Insurance Group reported a quarterly revenue of $378.81 million, slightly above analyst expectations, with earnings per share hitting the consensus estimate of $0.42.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) had its price objective decreased by Wells Fargo & Company from $31.00 to $28.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Wells Fargo & Company's price objective points to a potential downside of 4.92% from the stock's current price.

Several other research analysts have also issued reports on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $40.00 price target (down from $48.00) on shares of Baldwin Insurance Group in a research note on Thursday, August 7th. Zacks Research raised shares of Baldwin Insurance Group from a "strong sell" rating to a "hold" rating in a report on Monday. Wall Street Zen downgraded shares of Baldwin Insurance Group from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Baldwin Insurance Group in a research report on Saturday, September 27th. Finally, BMO Capital Markets reduced their price objective on shares of 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. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $42.33.

Baldwin Insurance Group Trading Up 1.7%

Shares of NASDAQ:BWIN traded up $0.49 on Wednesday, hitting $29.45. The company had a trading volume of 60,126 shares, compared to its average volume of 689,372. The firm's 50-day simple moving average is $31.59 and its two-hundred day simple moving average is $37.66. Baldwin Insurance Group has a 1 year low of $26.33 and a 1 year high of $55.82. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -100.84, a P/E/G ratio of 1.24 and a beta of 1.39.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $378.81 million during the quarter, compared to analysts' expectations of $375.38 million. Baldwin Insurance Group had a negative net margin of 1.22% and a positive return on equity of 13.24%. The company's quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company posted $0.34 EPS. Equities analysts anticipate that Baldwin Insurance Group will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Bradford Hale acquired 10,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were acquired at an average price of $28.72 per share, for a total transaction of $287,200.00. Following the completion of the transaction, the chief financial officer directly owned 144,659 shares of the company's stock, valued at approximately $4,154,606.48. The trade was a 7.43% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 20.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Orion Porfolio Solutions LLC purchased a new stake in shares of Baldwin Insurance Group during the second quarter valued at $961,000. Advisory Services Network LLC lifted its stake in Baldwin Insurance Group by 9.7% in the second quarter. Advisory Services Network LLC now owns 14,379 shares of the company's stock worth $616,000 after acquiring an additional 1,277 shares during the period. Westwood Holdings Group Inc. lifted its stake in Baldwin Insurance Group by 8.0% in the second quarter. Westwood Holdings Group Inc. now owns 1,920,530 shares of the company's stock worth $82,218,000 after acquiring an additional 142,506 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Baldwin Insurance Group by 11.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 20,452 shares of the company's stock worth $877,000 after acquiring an additional 2,025 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in Baldwin Insurance Group by 284.6% in the second quarter. Tower Research Capital LLC TRC now owns 9,610 shares of the company's stock worth $411,000 after acquiring an additional 7,111 shares during the period. Institutional investors own 77.49% of the company's stock.

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.

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