UBS Group Lowers Baldwin Insurance Group (NASDAQ:BWIN) Price Target to $35.00

Key Points

• UBS Group cut its price target on Baldwin Insurance Group from $40 to $35 while keeping a buy rating, implying significant upside from the prior close.
• The broader analyst picture is mixed: the stock’s consensus rating is Hold, with an average price target of $29.63 and multiple firms having recently adjusted their views.
• Baldwin Insurance Group recently reported Q1 revenue of $532.24 million, topping estimates, but EPS of $0.63 slightly missed expectations; shares were up 1.9% in Tuesday trading.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) had its price target cut by investment analysts at UBS Group from $40.00 to $35.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's price objective indicates a potential upside of 78.53% from the company's previous close.

A number of other brokerages also recently issued reports on BWIN. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Baldwin Insurance Group in a report on Friday, March 27th. Keefe, Bruyette & Woods decreased their target price on shares of Baldwin Insurance Group from $29.00 to $26.00 and set an "outperform" rating for the company in a research note on Tuesday, April 7th. Raymond James Financial raised Baldwin Insurance Group from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $20.00 to $30.00 in a research report on Friday, February 27th. TD Cowen started coverage on shares of Baldwin Insurance Group in a report on Wednesday, February 25th. They set a "buy" rating for the company. Finally, Wells Fargo & Company upped their price objective on Baldwin Insurance Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $29.63.

Baldwin Insurance Group Stock Up 1.9%

Shares of BWIN traded up $0.37 during trading hours on Tuesday, hitting $19.61. The company had a trading volume of 278,314 shares, compared to its average volume of 1,590,744. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -29.18, a P/E/G ratio of 0.76 and a beta of 1.16. The firm has a fifty day moving average price of $21.56 and a 200-day moving average price of $22.40. Baldwin Insurance Group has a 52-week low of $15.88 and a 52-week high of $45.16. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.08 and a current ratio of 1.08.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). Baldwin Insurance Group had a positive return on equity of 12.35% and a negative net margin of 2.80%.The firm had revenue of $532.24 million during the quarter, compared to analysts' expectations of $524.07 million. During the same period last year, the firm posted $0.65 earnings per share. The firm's quarterly revenue was up 28.7% on a year-over-year basis. On average, equities research analysts forecast that Baldwin Insurance Group will post 1.27 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Elizabeth Krystyn sold 130,018 shares of the company's 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 accessible through this hyperlink. Corporate insiders own 18.51% of the company's stock.

Institutional Investors Weigh In On Baldwin Insurance Group

Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Baldwin Insurance Group by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,166 shares of the company's stock valued at $1,795,000 after purchasing an additional 2,309 shares during the last quarter. Millennium Management LLC raised its holdings in Baldwin Insurance Group by 371.9% during the 1st quarter. Millennium Management LLC now owns 254,734 shares of the company's stock valued at $11,384,000 after buying an additional 200,754 shares during the period. NewEdge Advisors LLC lifted its position in Baldwin Insurance Group by 6.7% in the first quarter. NewEdge Advisors LLC now owns 11,075 shares of the company's stock worth $495,000 after buying an additional 700 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Baldwin Insurance Group by 3.6% during the first quarter. Goldman Sachs Group Inc. now owns 379,601 shares of the company's stock worth $16,964,000 after buying an additional 13,058 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Baldwin Insurance Group by 6.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 189,643 shares of the company's stock worth $8,475,000 after buying an additional 11,768 shares during the period. 77.49% of the stock is owned by institutional investors.

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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