Kornitzer Capital Management Inc. KS Decreases Stake in Baldwin Insurance Group, Inc. $BWIN

Key Points

• Kornitzer Capital Management cut its stake in Baldwin Insurance Group by 45.1% in the first quarter, leaving it with 98,480 shares valued at about $2.16 million.
• Other hedge funds also made notable moves in BWIN, while institutional investors and hedge funds still control a large 77.49% of the company’s shares. Insider Elizabeth Krystyn also sold 130,018 shares at $21.20 each.
• Analyst sentiment remains generally positive: BWIN has a Moderate Buy consensus with an average price target of $29.78, while the stock recently traded at $26.50 after reporting revenue that beat estimates but EPS that slightly missed expectations.

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) by 45.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,480 shares of the company's stock after selling 81,039 shares during the period. Kornitzer Capital Management Inc. KS owned 0.07% of Baldwin Insurance Group worth $2,161,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BWIN. Larson Financial Group LLC raised its holdings in shares of Baldwin Insurance Group by 666.5% during the 4th quarter. Larson Financial Group LLC now owns 1,211 shares of the company's stock worth $29,000 after acquiring an additional 1,053 shares during the period. Dorato Capital Management purchased a new stake in Baldwin Insurance Group in the fourth quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Baldwin Insurance Group during the third quarter worth $39,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Baldwin Insurance Group in the fourth quarter valued at $46,000. Finally, Strs Ohio acquired a new stake in shares of Baldwin Insurance Group in the first quarter valued at $72,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Insider Transactions at Baldwin Insurance Group

In other Baldwin Insurance Group news, major shareholder Elizabeth Krystyn sold 130,018 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $21.20, for a total transaction of $2,756,381.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley set a $28.00 target price on Baldwin Insurance Group in a research note on Monday, June 22nd. UBS Group lowered their price objective on shares of Baldwin Insurance Group from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, June 9th. Wells Fargo & Company increased their target price on shares of Baldwin Insurance Group from $24.00 to $27.00 and gave the stock an "equal weight" rating in a report on Thursday. Keefe, Bruyette & Woods boosted their price target on shares of Baldwin Insurance Group from $26.00 to $31.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. Finally, Bank of America reduced their price objective on Baldwin Insurance Group from $38.00 to $36.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. One equities research 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 given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $29.78.

Baldwin Insurance Group Price Performance

Shares of NASDAQ:BWIN opened at $26.50 on Monday. The firm has a 50 day simple moving average of $21.69 and a 200-day simple moving average of $22.10. Baldwin Insurance Group, Inc. has a twelve month low of $15.88 and a twelve month high of $43.64. 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 company has a market capitalization of $3.78 billion, a PE ratio of -39.55, a P/E/G ratio of 0.94 and a beta of 1.08.

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

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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