JPMorgan Chase & Co. Cuts Baldwin Insurance Group (NASDAQ:BWIN) Price Target to $28.00

Baldwin Insurance Group (NASDAQ:BWIN) had its target price decreased by JPMorgan Chase & Co. from $33.00 to $28.00 in a research report sent to investors on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on the company. Wells Fargo & Company raised Baldwin Insurance Group from an “underweight” rating to an “equal weight” rating and set a $25.00 price target for the company in a report on Friday, December 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Baldwin Insurance Group in a report on Monday, December 29th. Wall Street Zen downgraded shares of Baldwin Insurance Group from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. BMO Capital Markets cut 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 report on Thursday, December 4th. Finally, UBS Group decreased their price objective 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. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.50.

Baldwin Insurance Group Price Performance

NASDAQ:BWIN opened at $26.04 on Wednesday. The firm’s fifty day moving average is $25.43 and its two-hundred day moving average is $30.32. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -60.56, a PEG ratio of 0.90 and a beta of 1.38. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.15 and a current ratio of 1.15. Baldwin Insurance Group has a one year low of $21.26 and a one year high of $47.15.

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

Insider Activity at Baldwin Insurance Group

In other news, insider James Morgan Roche sold 80,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $24.03, for a total transaction of $1,922,400.00. Following the completion of the sale, the insider owned 42,113 shares of the company’s stock, valued at $1,011,975.39. The trade was a 65.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 255,000 shares of company stock worth $6,119,000 over the last three months. 18.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Baldwin Insurance Group

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