Baldwin Insurance Group (NASDAQ:BWIN) Price Target Raised to $31.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised its price target on Baldwin Insurance Group to $31 from $26 and kept an “outperform” rating, implying about 13.55% upside from the current share price.
• Other analysts remain mixed: UBS, Bank of America and Morgan Stanley have issued higher targets and buy ratings, while Weiss Ratings reiterated a sell. Overall, the stock carries a Moderate Buy consensus with an average target price of $29.44.
• Baldwin Insurance Group reported revenue that topped estimates in its last quarter, though EPS slightly missed expectations. The stock was trading around $27.30, with a market cap of $3.89 billion and shares up 0.8% on the day.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) had its target price increased by stock analysts at Keefe, Bruyette & Woods from $26.00 to $31.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 13.55% from the stock's current price.

BWIN has been the topic of several other reports. UBS Group cut their target price on Baldwin Insurance Group from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, June 9th. Bank of America dropped their price objective on Baldwin Insurance Group from $38.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. BMO Capital Markets lifted their price objective on Baldwin Insurance Group from $23.00 to $25.00 and gave the stock a "market perform" rating in a research report on Tuesday, June 23rd. Morgan Stanley set a $28.00 target price on Baldwin Insurance Group in a research note on Monday, June 22nd. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Baldwin Insurance Group in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.44.

Baldwin Insurance Group Stock Up 0.8%

Shares of Baldwin Insurance Group stock opened at $27.30 on Wednesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.08 and a current ratio of 1.08. Baldwin Insurance Group has a 52-week low of $15.88 and a 52-week high of $43.64. The company's 50 day moving average price is $21.53 and its 200-day moving average price is $22.04. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of -40.75, a P/E/G ratio of 0.96 and a beta of 1.08.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) last announced its quarterly earnings results 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). Baldwin Insurance Group had a negative net margin of 2.80% and a positive return on equity of 12.35%. The firm had revenue of $532.24 million for the quarter, compared to analysts' expectations of $524.07 million. During the same period in the previous year, the company earned $0.65 EPS. The company's quarterly revenue was up 28.7% on a year-over-year basis. Equities research analysts forecast that Baldwin Insurance Group will post 1.38 EPS for the current year.

Insider Buying and Selling at Baldwin Insurance Group

In other news, major shareholder Elizabeth Krystyn sold 130,018 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $21.20, for a total value of $2,756,381.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 20.14% of the company's stock.

Institutional Trading of Baldwin Insurance Group

A number of hedge funds have recently modified their holdings of BWIN. Versant Capital Management Inc grew 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 worth $32,000 after buying an additional 363 shares during the period. California State Teachers Retirement System grew its holdings in Baldwin Insurance Group by 0.9% in the second quarter. California State Teachers Retirement System now owns 61,912 shares of the company's stock worth $2,650,000 after purchasing an additional 555 shares during the period. NewEdge Advisors LLC boosted its position in shares of Baldwin Insurance Group by 6.7% in 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 in the last quarter. HB Wealth Management LLC increased its position in Baldwin Insurance Group by 1.0% during the 1st quarter. HB Wealth Management LLC now owns 74,451 shares of the company's stock valued at $1,633,000 after buying an additional 703 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Baldwin Insurance Group by 0.9% during the 3rd quarter. Alliancebernstein L.P. now owns 82,834 shares of the company's stock valued at $2,337,000 after buying an additional 715 shares in the last quarter. 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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