Baldwin Insurance Group (NASDAQ:BWIN) Given New $28.00 Price Target at JPMorgan Chase & Co.

Baldwin Insurance Group (NASDAQ:BWIN) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $33.00 to $28.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 15.30% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. BMO Capital Markets reduced their price objective on shares of Baldwin Insurance Group from $34.00 to $33.00 and set a “market perform” rating for the company in a research note on Thursday, December 4th. Zacks Research raised Baldwin Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Wells Fargo & Company raised Baldwin Insurance Group from an “underweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock in a research report on Friday, December 12th. UBS Group decreased their price target on shares of Baldwin Insurance Group from $52.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Finally, Wall Street Zen downgraded shares of Baldwin Insurance Group from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Baldwin Insurance Group currently has an average rating of “Hold” and an average target price of $35.71.

Baldwin Insurance Group Stock Down 2.6%

Shares of BWIN traded down $0.65 during midday trading on Wednesday, reaching $24.29. 332,950 shares of the stock were exchanged, compared to its average volume of 851,166. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.45. Baldwin Insurance Group has a 52 week low of $21.26 and a 52 week high of $47.15. The company’s 50 day moving average is $25.21 and its two-hundred day moving average is $30.50. The company has a market capitalization of $2.88 billion, a P/E ratio of -56.60, a PEG ratio of 0.94 and a beta of 1.38.

Baldwin Insurance Group (NASDAQ:BWIN) last posted its earnings results on Tuesday, November 4th. The company reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. Baldwin Insurance Group had a negative net margin of 1.89% and a positive return on equity of 12.65%. The business had revenue of $365.39 million for the quarter, compared to the consensus estimate of $364.14 million. During the same quarter last year, the firm posted $0.33 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, sell-side analysts anticipate that Baldwin Insurance Group will post 1.01 earnings per share for the current year.

Insider Activity

In related news, insider James Morgan Roche sold 100,000 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $24.20, for a total value of $2,420,000.00. Following the completion of the transaction, the insider owned 122,113 shares in the company, valued at $2,955,134.60. This trade represents a 45.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 255,000 shares of company stock valued at $6,119,000. 20.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BWIN. Champlain Investment Partners LLC increased its holdings in Baldwin Insurance Group by 20.3% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,915,879 shares of the company’s stock worth $110,467,000 after buying an additional 659,433 shares during the period. Westwood Holdings Group Inc. raised its holdings in shares of Baldwin Insurance Group by 8.0% during the second quarter. Westwood Holdings Group Inc. now owns 1,920,530 shares of the company’s stock worth $82,218,000 after purchasing an additional 142,506 shares during the last quarter. Geode Capital Management LLC lifted its position in Baldwin Insurance Group by 4.9% during the second quarter. Geode Capital Management LLC now owns 1,695,758 shares of the company’s stock valued at $72,604,000 after purchasing an additional 79,869 shares during the period. JPMorgan Chase & Co. boosted its holdings in Baldwin Insurance Group by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 1,514,115 shares of the company’s stock valued at $42,713,000 after purchasing an additional 158,199 shares during the last quarter. Finally, Capital World Investors grew its position in Baldwin Insurance Group by 24.8% during the 3rd quarter. Capital World Investors now owns 1,259,949 shares of the company’s stock worth $35,543,000 after purchasing an additional 250,000 shares during the period. 77.49% of the stock is owned by institutional investors and hedge funds.

About Baldwin Insurance Group

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.