Baldwin Insurance Group (NASDAQ:BWIN) Earns Outperform Rating from Raymond James Financial

Key Points

• Raymond James Financial has reaffirmed its "outperform" rating for Baldwin Insurance Group (NASDAQ:BWIN) with a price target of $40.00, indicating a potential upside of 31.62% from its current price.
• The company's latest quarterly earnings met expectations with $0.42 earnings per share, and revenue increased 11.5% year-over-year to $378.81 million.
• Insider trading activity has seen significant sales, with CEO Trevor Baldwin selling 117,000 shares, leading to an 80.87% decrease in his position.

Raymond James Financial reiterated their outperform rating on shares of Baldwin Insurance Group (NASDAQ:BWIN - Free Report) in a research report report published on Thursday, MarketBeat.com reports. The brokerage currently has a $40.00 price objective on the stock, down from their prior price objective of $48.00.

A number of other brokerages have also commented on BWIN. Wells Fargo & Company increased their price objective on Baldwin Insurance Group from $34.00 to $36.00 and gave the company an "underweight" rating in a report on Thursday, July 10th. Wall Street Zen lowered Baldwin Insurance Group from a "hold" rating to a "sell" rating in a report on Monday, July 7th. Jefferies Financial Group raised their target price on Baldwin Insurance Group from $41.00 to $42.00 and gave the company a "hold" rating in a report on Friday, April 11th. Finally, BMO Capital Markets lowered their target price on Baldwin Insurance Group from $51.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Baldwin Insurance Group currently has an average rating of "Hold" and an average price target of $44.43.

Baldwin Insurance Group Trading Down 0.5%

Shares of NASDAQ BWIN traded down $0.15 during mid-day trading on Thursday, hitting $32.12. 675,487 shares of the company traded hands, compared to its average volume of 650,206. Baldwin Insurance Group has a 1 year low of $28.66 and a 1 year high of $55.82. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -110.48, a PEG ratio of 1.33 and a beta of 1.66. 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 business has a 50 day moving average of $39.42 and a two-hundred day moving average of $40.49.

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

Insider Buying and Selling

In other Baldwin Insurance Group news, CEO Trevor Baldwin sold 117,000 shares of Baldwin Insurance Group stock in a transaction dated 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 transaction, the chief executive officer directly owned 27,676 shares in the company, valued at approximately $1,102,335.08. The trade was a 80.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lowry Baldwin sold 50,000 shares of Baldwin Insurance Group stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $38.98, for a total value of $1,949,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 367,845 shares of company stock worth $14,451,179. 18.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC bought a new position in shares of Baldwin Insurance Group in the 4th quarter valued at $10,381,000. Bamco Inc. NY bought a new position in shares of Baldwin Insurance Group during the fourth quarter valued at $116,668,000. KBC Group NV raised its holdings in Baldwin Insurance Group by 12.1% in the 1st quarter. KBC Group NV now owns 3,675 shares of the company's stock worth $164,000 after acquiring an additional 396 shares during the last quarter. GAMMA Investing LLC raised its holdings in Baldwin Insurance Group by 10,061.5% in the 1st quarter. GAMMA Investing LLC now owns 18,189 shares of the company's stock worth $813,000 after purchasing an additional 18,010 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in Baldwin Insurance Group by 36.4% in the 1st quarter. Bessemer Group Inc. now owns 43,065 shares of the company's stock worth $1,924,000 after buying an additional 11,485 shares during the period. 77.49% of the stock is currently owned by institutional investors.

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.