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

Key Points

• Bank of New York Mellon increased its stake in Baldwin Insurance Group by 25.3% in the fourth quarter, bringing its holdings to 2,873,887 shares worth about $69.1 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 77.49% of the company. Several large firms, including William Blair, Vanguard, and Champlain, also boosted their positions.
• Baldwin Insurance Group reported quarterly earnings of $0.63 per share, narrowly missing estimates, while revenue of $532.24 million beat expectations and rose 28.7% year over year. Analysts currently have a consensus rating of Hold with an average price target of $29.63.

Bank of New York Mellon Corp lifted its position in shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) by 25.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,873,887 shares of the company's stock after buying an additional 579,936 shares during the period. Bank of New York Mellon Corp owned 2.42% of Baldwin Insurance Group worth $69,060,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BWIN. William Blair Investment Management LLC lifted its stake in shares of Baldwin Insurance Group by 47.8% during the fourth quarter. William Blair Investment Management LLC now owns 7,543,813 shares of the company's stock valued at $181,278,000 after buying an additional 2,439,118 shares during the period. Champlain Investment Partners LLC boosted its holdings in shares of Baldwin Insurance Group by 20.3% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,915,879 shares of the company's stock valued at $110,467,000 after purchasing an additional 659,433 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Baldwin Insurance Group in the 3rd quarter valued at $14,177,000. Kennedy Capital Management LLC boosted its holdings in shares of Baldwin Insurance Group by 99.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 598,238 shares of the company's stock valued at $16,876,000 after purchasing an additional 298,685 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Baldwin Insurance Group by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 6,851,874 shares of the company's stock valued at $164,651,000 after purchasing an additional 287,241 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company's stock.

Insider Transactions at Baldwin Insurance Group

In related news, major shareholder Elizabeth Krystyn sold 130,018 shares of Baldwin Insurance Group stock in a transaction 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 is available at the SEC website. 20.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Baldwin Insurance Group from $29.00 to $26.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. TD Cowen assumed coverage on shares of Baldwin Insurance Group in a report on Wednesday, February 25th. They issued a "buy" rating on the stock. UBS Group reduced their target price on shares of Baldwin Insurance Group from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Baldwin Insurance Group from $28.00 to $25.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Finally, Wells Fargo & Company lifted their target price on shares of Baldwin Insurance Group from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $29.63.

Baldwin Insurance Group Stock Performance

NASDAQ:BWIN opened at $19.36 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -28.90, a PEG ratio of 0.74 and a beta of 1.16. The firm's fifty day simple moving average is $21.53 and its 200 day simple moving average is $22.35. Baldwin Insurance Group, Inc. has a twelve month low of $15.88 and a twelve month high of $45.16.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) last posted its 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). The business had revenue of $532.24 million for the quarter, compared to analyst estimates of $524.07 million. Baldwin Insurance Group had a negative net margin of 2.80% and a positive return on equity of 12.35%. The business's revenue was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. As a group, equities research analysts expect that Baldwin Insurance Group, Inc. will post 1.27 earnings per share for the current fiscal year.

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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