Bank of America Lowers Baldwin Insurance Group (NASDAQ:BWIN) Price Target to $36.00

Key Points

• Bank of America cut its price target on Baldwin Insurance Group from $38 to $36 while maintaining a "buy" rating, a target that implies roughly a 61.5% upside from the stock's current price (~$22.29).
• Analyst coverage is mixed—one Strong Buy, four Buy, four Hold and two Sell—giving a MarketBeat consensus rating of "Hold" with an average target of $30.13.
• In the latest quarter Baldwin reported EPS of $0.31 (beat vs. $0.29 est.) but revenue of $347.3M slightly missed estimates; the company shows a positive ROE (12.6%) alongside a negative net margin (-2.25%).

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) had its price target dropped by research analysts at Bank of America from $38.00 to $36.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price target would suggest a potential upside of 61.52% from the company's current price.

Several other brokerages have also recently issued reports on BWIN. Jefferies Financial Group reaffirmed a "hold" rating and set a $28.00 price objective on shares of Baldwin Insurance Group in a report on Monday, December 15th. JPMorgan Chase & Co. reduced their price objective on Baldwin Insurance Group from $28.00 to $25.00 and set a "neutral" rating for the company in a report on Thursday, April 9th. UBS Group reduced their price objective on Baldwin Insurance Group from $44.00 to $40.00 and set a "buy" rating for the company in a report on Monday, March 9th. Raymond James Financial raised Baldwin Insurance Group from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $20.00 to $30.00 in a report on Friday, February 27th. Finally, Wall Street Zen raised Baldwin Insurance Group from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $30.13.

Baldwin Insurance Group Price Performance

BWIN traded up $0.17 on Tuesday, hitting $22.29. 573,548 shares of the company were exchanged, compared to its average volume of 1,680,973. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.16 and a current ratio of 1.16. The business's fifty day moving average is $20.21 and its 200 day moving average is $23.60. Baldwin Insurance Group has a fifty-two week low of $15.88 and a fifty-two week high of $45.16. The firm has a market capitalization of $3.18 billion, a P/E ratio of -45.35, a price-to-earnings-growth ratio of 0.82 and a beta of 1.30.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. The firm had revenue of $347.28 million during the quarter, compared to analysts' expectations of $351.75 million. Baldwin Insurance Group had a positive return on equity of 12.60% and a negative net margin of 2.25%.Baldwin Insurance Group's revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. As a group, sell-side analysts anticipate that Baldwin Insurance Group will post 1.01 EPS for the current year.

Insider Buying and Selling at Baldwin Insurance Group

In other news, major shareholder Elizabeth Krystyn sold 119,987 shares of Baldwin Insurance Group stock in a transaction on Friday, March 6th. The stock was sold at an average price of $21.25, for a total value of $2,549,723.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Eugene Sparks acquired 29,000 shares of the stock in a transaction dated Monday, March 2nd. The stock was acquired at an average cost of $22.96 per share, with a total value of $665,840.00. Following the transaction, the director owned 981,506 shares of the company's stock, valued at approximately $22,535,377.76. This trade represents a 3.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 20.14% of the company's stock.

Institutional Investors Weigh In On Baldwin Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fenimore Asset Management Inc increased its position in Baldwin Insurance Group by 44.3% during the third quarter. Fenimore Asset Management Inc now owns 507,057 shares of the company's stock worth $14,304,000 after purchasing an additional 155,654 shares during the last quarter. Capital World Investors increased its position in Baldwin Insurance Group by 24.8% during the third quarter. Capital World Investors now owns 1,259,949 shares of the company's stock worth $35,543,000 after purchasing an additional 250,000 shares during the last quarter. JPMorgan Chase & Co. increased its position in Baldwin Insurance Group by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 1,514,115 shares of the company's stock worth $42,713,000 after purchasing an additional 158,199 shares during the last quarter. Aristotle Capital Boston LLC increased its position in Baldwin Insurance Group by 53.6% during the third quarter. Aristotle Capital Boston LLC now owns 655,965 shares of the company's stock worth $18,505,000 after purchasing an additional 228,940 shares during the last quarter. Finally, Austin Wealth Management LLC acquired a new position in Baldwin Insurance Group during the third quarter worth approximately $812,000. Hedge funds and other 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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