Baldwin Insurance Group (NASDAQ:BWIN) Upgraded to Strong Sell at Zacks Research

Key Points

• Baldwin Insurance Group has been downgraded to a "strong sell" rating by Zacks Research, reflecting a negative outlook from investment analysts.
• The company reported a 0.42 EPS in its latest quarter, meeting analysts' expectations, but the stock's price objectives have been adjusted downwards by several firms, including BMO Capital Markets and Raymond James.
• Insider trading activity showed that executives, including CEO Trevor Baldwin, significantly reduced their stock holdings, selling over 336,000 shares in recent months.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) was upgraded by investment analysts at Zacks Research to a "strong sell" rating in a research note issued on Tuesday,Zacks.com reports.

BWIN has been the subject of several other reports. BMO Capital Markets decreased their price objective on shares of Baldwin Insurance Group from $51.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, June 13th. Raymond James Financial reaffirmed an "outperform" rating and issued a $40.00 price objective (down from $48.00) on shares of Baldwin Insurance Group in a research report on Thursday, August 7th. Wall Street Zen downgraded Baldwin Insurance Group from a "hold" rating to a "sell" rating in a report on Monday, July 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Baldwin Insurance Group from $34.00 to $36.00 and gave the company an "underweight" rating in a report on Thursday, July 10th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $43.67.

Baldwin Insurance Group Trading Down 2.9%

NASDAQ:BWIN opened at $33.19 on Tuesday. The company has a fifty day moving average of $38.94 and a 200 day moving average of $40.28. Baldwin Insurance Group has a 52 week low of $28.66 and a 52 week 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 $3.93 billion, a P/E ratio of -114.45, a P/E/G ratio of 1.53 and a beta of 1.66.

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

Insider Activity

In other Baldwin Insurance Group news, Director Lowry Baldwin sold 62,500 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $38.32, for a total value of $2,395,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Trevor Baldwin sold 117,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $39.83, for a total value of $4,660,110.00. Following the completion of the sale, the chief executive officer owned 27,676 shares in the company, valued at approximately $1,102,335.08. This represents a 80.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 336,711 shares of company stock valued at $13,205,267. 18.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. KBC Group NV increased its stake in shares of 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. First Horizon Advisors Inc. increased its position in shares of Baldwin Insurance Group by 29.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,834 shares of the company's stock worth $79,000 after purchasing an additional 419 shares during the last quarter. US Bancorp DE increased its position in shares of Baldwin Insurance Group by 6.5% during the 1st quarter. US Bancorp DE now owns 7,337 shares of the company's stock worth $328,000 after purchasing an additional 450 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Baldwin Insurance Group by 4.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,341 shares of the company's stock worth $443,000 after purchasing an additional 470 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Baldwin Insurance Group by 3.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 13,529 shares of the company's stock worth $579,000 after purchasing an additional 504 shares during the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

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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