Weiss Ratings Reiterates Sell (D-) Rating for Baldwin Insurance Group (NASDAQ:BWIN)

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Baldwin Insurance Group (NASDAQ:BWIN), indicating a continued lack of confidence in the stock's performance.
• Price targets for Baldwin Insurance Group have been adjusted downward by multiple analysts, with Raymond James setting a target of $40.00 and Wells Fargo lowering it to $28.00.
• The company's stock has seen recent insider activity, with CFO Bradford Hale purchasing 10,000 shares at an average price of $28.72, raising his total ownership to over 144,000 shares.

Baldwin Insurance Group (NASDAQ:BWIN - Get Free Report)'s stock had its "sell (d-)" rating restated by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts have also recently weighed in on BWIN. Raymond James Financial reaffirmed an "outperform" rating and issued a $40.00 price target (down previously from $48.00) on shares of Baldwin Insurance Group in a research report on Thursday, August 7th. Wells Fargo & Company dropped their price target on shares of Baldwin Insurance Group from $31.00 to $28.00 and set an "underweight" rating on the stock in a research report on Wednesday. Zacks Research raised shares of Baldwin Insurance Group from a "strong sell" rating to a "hold" rating in a research report on Monday. BMO Capital Markets decreased 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 research note on Friday, June 13th. Finally, Wall Street Zen lowered shares of Baldwin Insurance Group from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Baldwin Insurance Group has an average rating of "Hold" and an average target price of $42.33.

Baldwin Insurance Group Stock Down 0.0%

Shares of BWIN stock traded down $0.01 on Wednesday, reaching $28.95. 881,161 shares of the company were exchanged, compared to its average volume of 810,616. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 1.30 and a beta of 1.39. The company has a 50-day moving average of $31.43 and a 200-day moving average of $37.60. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.23 and a quick ratio of 1.23. 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 released its quarterly earnings data on Tuesday, August 5th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.42. Baldwin Insurance Group had a negative net margin of 1.22% and a positive return on equity of 13.24%. The company had revenue of $378.81 million for the quarter, compared to analysts' expectations of $375.38 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The business's revenue was up 11.5% on a year-over-year basis. Analysts anticipate that Baldwin Insurance Group will post 1.01 earnings per share for the current year.

Insider Activity at Baldwin Insurance Group

In related news, CFO Bradford Hale acquired 10,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was bought at an average cost of $28.72 per share, with a total value of $287,200.00. Following the acquisition, the chief financial officer owned 144,659 shares of the company's stock, valued at approximately $4,154,606.48. The trade was a 7.43% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.51% of the stock is owned by company insiders.

Institutional Trading of Baldwin Insurance Group

Hedge funds have recently made changes to their positions in the stock. MTM Investment Management LLC bought a new position in shares of Baldwin Insurance Group during the second quarter valued at about $30,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Baldwin Insurance Group during the second quarter valued at about $58,000. Strs Ohio purchased a new position in shares of Baldwin Insurance Group during the first quarter valued at about $72,000. First Horizon Advisors Inc. increased its position in shares of Baldwin Insurance Group by 29.6% during the second quarter. First Horizon Advisors Inc. now owns 1,834 shares of the company's stock valued at $79,000 after buying an additional 419 shares during the period. Finally, IFP Advisors Inc increased its position in shares of Baldwin Insurance Group by 3,664.0% during the second quarter. IFP Advisors Inc now owns 2,823 shares of the company's stock valued at $128,000 after buying an additional 2,748 shares during the period. 77.49% of the stock is owned by institutional investors.

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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