Baldwin Insurance Group (NASDAQ:BWIN) Price Target Raised to $30.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target on Baldwin Insurance Group from $28 to $30 and kept an overweight rating, implying about 9.4% upside from the current price.
• The stock was trading up 3.4% to $27.41 after the update, with the company carrying a market cap of about $3.91 billion.
• Analyst sentiment is mixed but generally positive: MarketBeat data shows a Moderate Buy consensus, with a consensus target price of $30.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) had its price target hoisted by JPMorgan Chase & Co. from $28.00 to $30.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 9.43% from the company's current price.

A number of other research analysts have also recently commented on BWIN. Bank of America reduced their price objective on Baldwin Insurance Group from $38.00 to $36.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Zacks Research upgraded Baldwin Insurance Group from a "strong sell" rating to a "hold" rating in a report on Friday, June 12th. TD Cowen reissued a "buy" rating on shares of Baldwin Insurance Group in a research report on Monday, June 15th. Weiss Ratings upgraded Baldwin Insurance Group from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday. Finally, UBS Group lowered 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. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

Baldwin Insurance Group Trading Up 3.4%

Shares of Baldwin Insurance Group stock traded up $0.91 during trading hours on Monday, reaching $27.41. 250,865 shares of the company's stock were exchanged, compared to its average volume of 1,671,130. Baldwin Insurance Group has a 52-week low of $15.88 and a 52-week high of $43.64. The company has a fifty day moving average of $21.69 and a 200-day moving average of $22.10. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of -41.00, a price-to-earnings-growth ratio of 0.94 and a beta of 1.08.

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

Insiders Place Their Bets

In other Baldwin Insurance Group news, major shareholder Elizabeth Krystyn sold 130,018 shares of the business's stock in a transaction 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 filing with the SEC, which is available through the SEC website. Insiders own 18.51% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. William Blair Investment Management LLC boosted its stake in Baldwin Insurance Group by 47.8% during the 4th quarter. William Blair Investment Management LLC now owns 7,543,813 shares of the company's stock valued at $181,278,000 after purchasing an additional 2,439,118 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Baldwin Insurance Group by 11,089.9% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,717,538 shares of the company's stock worth $37,683,000 after buying an additional 1,702,189 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Baldwin Insurance Group by 36.3% in the first quarter. Bank of New York Mellon Corp now owns 3,918,087 shares of the company's stock valued at $85,963,000 after acquiring an additional 1,044,200 shares during the period. MetLife Investment Management LLC boosted its position in shares of Baldwin Insurance Group by 1,376.4% in the fourth quarter. MetLife Investment Management LLC now owns 619,292 shares of the company's stock valued at $14,882,000 after acquiring an additional 577,345 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Baldwin Insurance Group in the third quarter worth $14,177,000. 77.49% of the stock is owned by institutional investors and hedge funds.

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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