Baldwin Insurance Group (NASDAQ:BWIN) Price Target Lowered to $24.00 at Wells Fargo & Company

Baldwin Insurance Group (NASDAQ:BWIN) had its price target cut by analysts at Wells Fargo & Company from $28.00 to $24.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential downside of 4.59% from the company’s current price.

Several other equities analysts have also commented on the company. Zacks Research upgraded Baldwin Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Raymond James Financial reiterated an “outperform” rating and issued a $40.00 target price (down previously from $48.00) on shares of Baldwin Insurance Group in a research note on Thursday, August 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $33.00 target price (down previously from $38.00) on shares of Baldwin Insurance Group in a research note on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Baldwin Insurance Group in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered Baldwin Insurance Group from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $37.00.

Baldwin Insurance Group Trading Up 9.3%

BWIN stock traded up $2.15 during midday trading on Wednesday, reaching $25.16. The company’s stock had a trading volume of 116,963 shares, compared to its average volume of 716,508. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a fifty day simple moving average of $27.95 and a two-hundred day simple moving average of $34.95. Baldwin Insurance Group has a 1 year low of $21.26 and a 1 year high of $50.46. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -86.21, a PEG ratio of 1.09 and a beta of 1.40.

Baldwin Insurance Group (NASDAQ:BWIN) last released its earnings results on Tuesday, November 4th. The company reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. 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 $365.39 million for the quarter, compared to analyst estimates of $364.14 million. During the same quarter last year, the firm posted $0.33 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts predict that Baldwin Insurance Group will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other Baldwin Insurance Group news, CFO Bradford Hale purchased 10,000 shares of the stock in a transaction 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 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 20.14% of the company’s stock.

Institutional Investors Weigh In On Baldwin Insurance Group

Several institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its holdings in shares of Baldwin Insurance Group by 561.6% during the first quarter. American Century Companies Inc. now owns 451,360 shares of the company’s stock worth $20,171,000 after purchasing an additional 383,137 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Baldwin Insurance Group during the first quarter worth about $1,860,000. Teacher Retirement System of Texas acquired a new stake in shares of Baldwin Insurance Group during the first quarter worth about $441,000. Zions Bancorporation National Association UT acquired a new stake in shares of Baldwin Insurance Group during the first quarter worth about $2,514,000. Finally, Invesco Ltd. lifted its holdings in shares of Baldwin Insurance Group by 794.2% during the first quarter. Invesco Ltd. now owns 556,775 shares of the company’s stock worth $24,882,000 after purchasing an additional 494,508 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.