Baldwin Insurance Group (NASDAQ:BWIN) Price Target Raised to $27.00 at Wells Fargo & Company

Key Points

• Wells Fargo raised Baldwin Insurance Group’s price target from $24 to $27 while keeping an equal weight rating. The new target implies about 3.7% upside from the current price.
• Analyst sentiment is mixed: recent calls include buy ratings from TD Cowen and JPMorgan’s upgrade to overweight, while Weiss Ratings reiterated a sell rating. Overall, MarketBeat shows a Moderate Buy consensus with an average price target of $29.78.
• The stock was trading around $26.03, below its 52-week high of $43.64 but above its low of $15.88. In its latest quarter, the company missed EPS estimates by $0.01 but posted 28.7% revenue growth year over year.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) had its target price raised by Wells Fargo & Company from $24.00 to $27.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 3.73% from the company's current price.

Other equities analysts have also recently issued reports about the stock. TD Cowen reaffirmed a "buy" rating on shares of Baldwin Insurance Group in a research note on Monday, June 15th. UBS Group reduced their price objective on shares of Baldwin Insurance Group from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, June 9th. Weiss Ratings reissued a "sell (e+)" rating on shares of Baldwin Insurance Group in a research report on Wednesday, June 24th. JPMorgan Chase & Co. upgraded shares of Baldwin Insurance Group from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $25.00 to $28.00 in a research note on Monday, June 22nd. Finally, BMO Capital Markets lifted their target price on shares of Baldwin Insurance Group from $23.00 to $25.00 and gave the stock a "market perform" rating in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.78.

Baldwin Insurance Group Price Performance

BWIN stock traded down $0.84 during trading on Thursday, hitting $26.03. 550,547 shares of the stock traded hands, compared to its average volume of 1,683,868. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -38.72, a P/E/G ratio of 0.97 and a beta of 1.08. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.51. Baldwin Insurance Group has a one year low of $15.88 and a one year high of $43.64. The company has a 50 day simple moving average of $21.58 and a 200 day simple moving average of $22.06.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $532.24 million during the quarter, compared to analyst estimates of $524.07 million. Baldwin Insurance Group had a negative net margin of 2.80% and a positive return on equity of 12.35%. The company's revenue was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 EPS. Equities analysts expect that Baldwin Insurance Group will post 1.38 EPS for the current fiscal year.

Insider Transactions at Baldwin Insurance Group

In other Baldwin Insurance Group news, major shareholder Elizabeth Krystyn sold 130,018 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $21.20, for a total transaction of $2,756,381.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Baldwin Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of Baldwin Insurance Group by 43.3% in the 2nd quarter. Versant Capital Management Inc now owns 1,201 shares of the company's stock valued at $32,000 after buying an additional 363 shares in the last quarter. Larson Financial Group LLC raised its position in Baldwin Insurance Group by 666.5% during 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 in the last quarter. EverSource Wealth Advisors LLC raised its position in Baldwin Insurance Group by 238.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,278 shares of the company's stock valued at $28,000 after purchasing an additional 900 shares in the last quarter. Dorato Capital Management acquired a new stake in shares of Baldwin Insurance Group in the 4th quarter valued at $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Baldwin Insurance Group in the 3rd quarter valued at $39,000. Institutional investors own 77.49% of the company's stock.

Baldwin Insurance Group Company Profile

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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