Bank of New York Mellon Corp Grows Stock Position in Baldwin Insurance Group, Inc. $BWIN

Key Points

• Bank of New York Mellon boosted its stake in Baldwin Insurance Group by 36.3% in the first quarter, ending with 3.92 million shares valued at about $85.96 million. Institutional ownership remains high, with investors holding 77.49% of the stock.
• Shares of Baldwin Insurance Group were down 3.0% to $26.15, while the company’s recent earnings topped revenue expectations but missed EPS estimates by $0.01. Revenue rose 28.7% year over year to $532.24 million.
• Analyst sentiment is mixed but constructive, with several firms raising price targets and the consensus rating sitting at Moderate Buy with an average target price of $30.00. Meanwhile, insider Elizabeth Krystyn sold 130,018 shares in May.

Bank of New York Mellon Corp raised its holdings in shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) by 36.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,918,087 shares of the company's stock after buying an additional 1,044,200 shares during the period. Bank of New York Mellon Corp owned about 2.74% of Baldwin Insurance Group worth $85,963,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BWIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Baldwin Insurance Group by 6.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,166 shares of the company's stock valued at $1,795,000 after purchasing an additional 2,309 shares in the last quarter. Millennium Management LLC increased its stake in shares of Baldwin Insurance Group by 371.9% in the first quarter. Millennium Management LLC now owns 254,734 shares of the company's stock worth $11,384,000 after purchasing an additional 200,754 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Baldwin Insurance Group by 6.7% in the first 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. Goldman Sachs Group Inc. raised its position in shares of Baldwin Insurance Group by 3.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 379,601 shares of the company's stock valued at $16,964,000 after purchasing an additional 13,058 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Baldwin Insurance Group by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 189,643 shares of the company's stock valued at $8,475,000 after purchasing an additional 11,768 shares during the period. 77.49% of the stock is currently owned by institutional investors.

Baldwin Insurance Group Stock Down 3.0%

Shares of NASDAQ BWIN opened at $26.15 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $3.73 billion, a P/E ratio of -39.03, a PEG ratio of 0.97 and a beta of 1.08. Baldwin Insurance Group, Inc. has a 1 year low of $15.88 and a 1 year high of $41.63. The firm has a 50-day simple moving average of $22.52 and a two-hundred day simple moving average of $22.19.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.01). The business had revenue of $532.24 million during the quarter, compared to analysts' expectations of $524.07 million. Baldwin Insurance Group had a positive return on equity of 12.35% and a negative net margin of 2.80%.The business's revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. Research analysts anticipate that Baldwin Insurance Group, Inc. will post 1.38 earnings per share for the current year.

Insider Transactions 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 shares were sold at an average price of $21.20, for a total transaction of $2,756,381.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 15.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Baldwin Insurance Group from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Keefe, Bruyette & Woods boosted their price objective on Baldwin Insurance Group from $26.00 to $31.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Zacks Research raised Baldwin Insurance Group from a "strong sell" rating to a "hold" rating in a research note on Friday, June 12th. Morgan Stanley set a $28.00 target price on Baldwin Insurance Group in a research report on Monday, June 22nd. Finally, UBS Group lowered their price target on Baldwin Insurance Group from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, June 9th. One 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.00.

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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