Baldwin Insurance Group (NASDAQ:BWIN) Posts Quarterly Earnings Results, Misses Expectations By $0.15 EPS

Baldwin Insurance Group (NASDAQ:BWIN) released its earnings results on Tuesday. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.15), Zacks reports. Baldwin Insurance Group had a negative net margin of 1.22% and a positive return on equity of 13.24%.

Baldwin Insurance Group Price Performance

Shares of NASDAQ BWIN traded up $0.60 during mid-day trading on Tuesday, hitting $23.01. 1,265,930 shares of the stock were exchanged, compared to its average volume of 719,519. The company has a market cap of $2.73 billion, a P/E ratio of -79.34, a PEG ratio of 1.08 and a beta of 1.40. The stock’s fifty day simple moving average is $28.14 and its two-hundred day simple moving average is $35.08. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.23 and a current ratio of 1.23. Baldwin Insurance Group has a twelve month low of $21.26 and a twelve month high of $50.46.

Wall Street Analyst Weigh In

BWIN has been the subject of several research reports. Wall Street Zen cut shares of Baldwin Insurance Group from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Zacks Research upgraded shares of Baldwin Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Baldwin Insurance Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of Baldwin Insurance Group from $41.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, October 9th. Finally, Raymond James Financial reissued 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. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.67.

Insider Buying and Selling at Baldwin Insurance Group

In other 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 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 approximately $4,154,606.48. This represents a 7.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 20.14% of the company’s stock.

Institutional Trading of Baldwin Insurance Group

Several hedge funds have recently modified their holdings of BWIN. Advisory Services Network LLC grew its stake in shares of Baldwin Insurance Group by 9.7% during the second quarter. Advisory Services Network LLC now owns 14,379 shares of the company’s stock valued at $616,000 after purchasing an additional 1,277 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Baldwin Insurance Group by 11.0% during the second quarter. CANADA LIFE ASSURANCE Co now owns 20,452 shares of the company’s stock valued at $877,000 after purchasing an additional 2,025 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Baldwin Insurance Group by 284.6% during the second quarter. Tower Research Capital LLC TRC now owns 9,610 shares of the company’s stock valued at $411,000 after purchasing an additional 7,111 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of Baldwin Insurance Group by 100.1% during the second quarter. Corient Private Wealth LLC now owns 540,004 shares of the company’s stock valued at $23,118,000 after purchasing an additional 270,156 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Baldwin Insurance Group by 6.3% during the second quarter. Tidal Investments LLC now owns 306,442 shares of the company’s stock valued at $13,119,000 after purchasing an additional 18,120 shares during the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Baldwin Insurance Group Company Profile

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.