Royal Bank of Canada Trims Stake in Baldwin Insurance Group, Inc. $BWIN

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 lessened its stake in shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. KBC Group NV boosted its stake in Baldwin Insurance Group by 12.1% during the first quarter. KBC Group NV now owns 3,675 shares of the company's stock worth $164,000 after buying an additional 396 shares during the period. US Bancorp DE increased its stake in Baldwin Insurance Group by 6.5% during the first quarter. US Bancorp DE now owns 7,337 shares of the company's stock worth $328,000 after purchasing an additional 450 shares during the period. Toth Financial Advisory Corp increased its stake in Baldwin Insurance Group by 3.3% during the first quarter. Toth Financial Advisory Corp now owns 17,335 shares of the company's stock worth $775,000 after purchasing an additional 550 shares during the period. PNC Financial Services Group Inc. increased its stake in Baldwin Insurance Group by 5.7% during the first quarter. PNC Financial Services Group Inc. now owns 13,025 shares of the company's stock worth $582,000 after purchasing an additional 700 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Baldwin Insurance Group by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 109,566 shares of the company's stock worth $4,897,000 after purchasing an additional 742 shares during the period. Hedge funds and other institutional investors own 77.49% of the company's stock.

Insider Activity at Baldwin Insurance Group

In related news, insider James Morgan Roche sold 26,679 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $40.07, for a total value of $1,069,027.53. Following the transaction, the insider directly owned 42,113 shares of the company's stock, valued at $1,687,467.91. This trade represents a 38.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Bradford Hale bought 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average cost of $28.72 per share, for a total transaction of $287,200.00. Following the completion of the transaction, the chief financial officer directly owned 144,659 shares in the company, valued at approximately $4,154,606.48. The trade was a 7.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 154,573 shares of company stock valued at $6,165,224 in the last ninety days. Insiders own 20.14% of the company's stock.

Baldwin Insurance Group Stock Down 3.1%

Shares of BWIN traded down $0.98 during mid-day trading on Wednesday, reaching $30.37. The company's stock had a trading volume of 747,128 shares, compared to its average volume of 679,579. Baldwin Insurance Group, Inc. has a 12-month low of $28.66 and a 12-month high of $55.82. The stock has a market cap of $3.60 billion, a PE ratio of -104.72, a price-to-earnings-growth ratio of 1.45 and a beta of 1.43. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.23 and a quick ratio of 1.23. The company's 50 day moving average is $36.05 and its 200 day moving average is $39.18.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.42 EPS for the quarter, meeting analysts' consensus estimates of $0.42. Baldwin Insurance Group had a positive return on equity of 13.24% and a negative net margin of 1.22%.The business had revenue of $378.81 million for the quarter, compared to the consensus estimate of $375.38 million. During the same quarter in the prior year, the business posted $0.34 EPS. The business's revenue for the quarter was up 11.5% on a year-over-year basis. Equities analysts anticipate that Baldwin Insurance Group, Inc. will post 1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Baldwin Insurance Group Company Profile

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.