Baldwin Insurance Group, Inc. $BWIN Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada has reduced its stake in Baldwin Insurance Group, Inc. by 5.9%, selling 51,385 shares to end up owning approximately 823,871 shares valued at $36.8 million.
• Several other hedge funds have also altered their positions in Baldwin Insurance, with notable new stakes valued between $75,000 and $201,000.
• Wall Street analysts have mixed sentiments about Baldwin Insurance, with recent ratings showing fluctuations, including upgrades and downgrades, resulting in a consensus rating of "Hold" with a target price of $43.67.

Royal Bank of Canada reduced its stake in shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 823,871 shares of the company's stock after selling 51,385 shares during the quarter. Royal Bank of Canada owned 0.70% of Baldwin Insurance Group worth $36,819,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Continuum Advisory LLC purchased a new stake in shares of Baldwin Insurance Group during the 4th quarter valued at about $75,000. State of Wyoming purchased a new stake in shares of Baldwin Insurance Group during the 4th quarter valued at about $82,000. Tower Research Capital LLC TRC purchased a new stake in shares of Baldwin Insurance Group during the 4th quarter valued at about $85,000. KBC Group NV raised its holdings in shares of Baldwin Insurance Group by 12.1% during the 1st quarter. KBC Group NV now owns 3,675 shares of the company's stock valued at $164,000 after buying an additional 396 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Baldwin Insurance Group during the 1st quarter valued at about $201,000. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BWIN. BMO Capital Markets lowered their price objective on Baldwin Insurance Group from $51.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, June 13th. Wall Street Zen lowered Baldwin Insurance Group from a "hold" rating to a "sell" rating in a research note on Monday, July 7th. Zacks Research upgraded Baldwin Insurance Group to a "strong sell" rating in a research note on Tuesday, August 12th. Raymond James Financial restated an "outperform" rating and set a $40.00 price objective (down previously from $48.00) on shares of Baldwin Insurance Group in a research note on Thursday, August 7th. Finally, Wells Fargo & Company raised their price objective on Baldwin Insurance Group from $34.00 to $36.00 and gave the company an "underweight" rating in a research note on Thursday, July 10th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $43.67.

Baldwin Insurance Group Stock Performance

Shares of BWIN traded up $0.04 during mid-day trading on Friday, hitting $31.09. The stock had a trading volume of 707,252 shares, compared to its average volume of 718,897. The company has a market cap of $3.69 billion, a PE ratio of -107.21, a PEG ratio of 1.39 and a beta of 1.43. The company's fifty day simple moving average is $35.46 and its two-hundred day simple moving average is $39.00. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.53. Baldwin Insurance Group, Inc. has a fifty-two week low of $28.66 and a fifty-two week high of $55.82.

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

Insider Activity at Baldwin Insurance Group

In other news, CFO Bradford Hale bought 10,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was bought at an average price of $28.72 per share, for a total transaction of $287,200.00. Following the transaction, the chief financial officer owned 144,659 shares in the company, valued at $4,154,606.48. The trade was a 7.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 18.51% of the company's stock.

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.