Baldwin Insurance Group (NASDAQ:BWIN) Releases Earnings Results, Misses Estimates By $0.15 EPS

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

Baldwin Insurance Group Stock Performance

BWIN stock traded up $0.60 during mid-day trading on Tuesday, reaching $23.01. 1,265,930 shares of the stock traded hands, compared to its average volume of 719,519. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.53. Baldwin Insurance Group has a 52 week low of $21.26 and a 52 week high of $50.46. The business has a 50-day moving average of $28.14 and a two-hundred day moving average of $35.08. The firm has a market capitalization of $2.73 billion, a PE ratio of -79.34, a P/E/G ratio of 1.08 and a beta of 1.40.

Insider Transactions at Baldwin Insurance Group

In other news, CFO Bradford Hale purchased 10,000 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was bought at an average cost of $28.72 per share, for a total transaction of $287,200.00. Following the completion of the acquisition, the chief financial officer directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 20.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Baldwin Insurance Group

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in Baldwin Insurance Group by 6.4% during the second quarter. Bank of America Corp DE now owns 686,728 shares of the company’s stock valued at $29,399,000 after acquiring an additional 41,303 shares during the period. Corient Private Wealth LLC boosted its holdings in 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 acquiring an additional 270,156 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Baldwin Insurance Group by 3.6% during the first quarter. Goldman Sachs Group Inc. now owns 379,601 shares of the company’s stock valued at $16,964,000 after acquiring an additional 13,058 shares during the period. Tidal Investments LLC boosted its holdings in 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 acquiring an additional 18,120 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Baldwin Insurance Group by 371.9% in the first quarter. Millennium Management LLC now owns 254,734 shares of the company’s stock valued at $11,384,000 after buying an additional 200,754 shares during the period. 77.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BWIN shares. JPMorgan Chase & Co. dropped their price target on shares of Baldwin Insurance Group from $41.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Baldwin Insurance Group in a report on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and issued a $40.00 price objective (down from $48.00) on shares of Baldwin Insurance Group in a report on Thursday, August 7th. Wells Fargo & Company decreased their price objective on shares of Baldwin Insurance Group from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Wednesday, October 8th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $33.00 price objective (down from $38.00) on shares of Baldwin Insurance Group in a report on Monday, October 13th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.67.

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.