JPMorgan Chase & Co. Cuts Baldwin Insurance Group (NASDAQ:BWIN) Price Target to $34.00

Key Points

• JPMorgan Chase & Co. has reduced its price target for Baldwin Insurance Group from $41.00 to $34.00, maintaining a "neutral" rating on the stock, which has a potential upside of 16.77% from its current price.
• Analysts have varied perspectives on Baldwin Insurance Group, with Wells Fargo setting a lower target of $28.00 and others adjusting ratings from "sell" to "hold" or "outperform."
• The company achieved earnings of $0.42 per share, matching estimates, with a revenue increase of 11.5% year-over-year, reflecting a positive financial trend despite a negative net margin.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) had its price target dropped by investment analysts at JPMorgan Chase & Co. from $41.00 to $34.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 16.77% from the stock's current price.

Several other analysts have also weighed in on BWIN. Wells Fargo & Company dropped their price objective on shares of Baldwin Insurance Group from $31.00 to $28.00 and set an "underweight" rating for the company in a report on Wednesday. BMO Capital Markets dropped their price objective on shares of Baldwin Insurance Group from $51.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, June 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Baldwin Insurance Group in a report on Wednesday. Zacks Research raised shares of Baldwin Insurance Group from a "strong sell" rating to a "hold" rating in a report on Monday. Finally, Wall Street Zen lowered shares of Baldwin Insurance Group from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Baldwin Insurance Group has an average rating of "Hold" and a consensus price target of $40.50.

Baldwin Insurance Group Price Performance

BWIN traded up $0.17 during midday trading on Thursday, reaching $29.12. 82,137 shares of the company's stock were exchanged, compared to its average volume of 690,663. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -100.38, a price-to-earnings-growth ratio of 1.30 and a beta of 1.39. The business has a 50-day simple moving average of $31.43 and a two-hundred day simple moving average of $37.60. 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 has a one year low of $26.33 and a one year high of $55.82.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.42 earnings per share 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 negative net margin of 1.22% and a positive return on equity of 13.24%. The company's revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $0.34 earnings per share. As a group, research analysts predict that Baldwin Insurance Group will post 1.01 EPS for the current year.

Insider Buying and Selling at Baldwin Insurance Group

In related news, CFO Bradford Hale purchased 10,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was acquired at an average price of $28.72 per share, with a total value of $287,200.00. Following the completion of the acquisition, the chief financial officer directly owned 144,659 shares in the company, valued at approximately $4,154,606.48. This trade represents a 7.43% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 18.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Baldwin Insurance Group

A number of institutional investors have recently bought and sold shares of BWIN. MTM Investment Management LLC acquired a new stake in Baldwin Insurance Group during the 2nd quarter worth $30,000. Elevation Point Wealth Partners LLC acquired a new stake in Baldwin Insurance Group during the 2nd quarter worth $58,000. Strs Ohio acquired a new stake in Baldwin Insurance Group during the 1st quarter worth $72,000. First Horizon Advisors Inc. grew its holdings in Baldwin Insurance Group by 29.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,834 shares of the company's stock worth $79,000 after acquiring an additional 419 shares during the period. Finally, IFP Advisors Inc grew its holdings in Baldwin Insurance Group by 3,664.0% during the 2nd quarter. IFP Advisors Inc now owns 2,823 shares of the company's stock worth $128,000 after acquiring an additional 2,748 shares during the period. Institutional investors and hedge funds own 77.49% 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.

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