JPMorgan Chase & Co. Cuts The Baldwin Insurance Group (NASDAQ:BWIN) Price Target to $46.00

The Baldwin Insurance Group (NASDAQ:BWIN) had its price objective lowered by JPMorgan Chase & Co. from $47.00 to $46.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also issued reports on the company. William Blair raised The Baldwin Insurance Group from a “market perform” rating to an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group boosted their price objective on shares of The Baldwin Insurance Group from $38.00 to $46.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $41.00 target price (down previously from $43.00) on shares of The Baldwin Insurance Group in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.50.

The Baldwin Insurance Group Stock Up 2.3 %

BWIN stock opened at $38.14 on Friday. The company has a market cap of $4.48 billion, a price-to-earnings ratio of -59.59, a price-to-earnings-growth ratio of 1.27 and a beta of 1.58. The company has a fifty day moving average price of $44.09 and a 200 day moving average price of $44.24. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.98 and a quick ratio of 0.98. The Baldwin Insurance Group has a 12 month low of $21.70 and a 12 month high of $55.82.

The Baldwin Insurance Group (NASDAQ:BWIN) last announced its earnings results on Monday, November 4th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The business had revenue of $339.90 million during the quarter, compared to analysts’ expectations of $346.43 million. The Baldwin Insurance Group had a negative net margin of 2.89% and a positive return on equity of 10.57%. The Baldwin Insurance Group’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. Sell-side analysts expect that The Baldwin Insurance Group will post 1.01 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Elizabeth Krystyn sold 191,307 shares of The Baldwin Insurance Group stock in a transaction on Monday, December 9th. The stock was sold at an average price of $45.18, for a total transaction of $8,643,250.26. Following the completion of the transaction, the insider now directly owns 232,570 shares of the company’s stock, valued at approximately $10,507,512.60. The trade was a 45.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 20.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BWIN. Peapack Gladstone Financial Corp purchased a new position in The Baldwin Insurance Group during the 3rd quarter valued at about $263,000. Confluence Investment Management LLC acquired a new stake in shares of The Baldwin Insurance Group in the fourth quarter valued at approximately $16,747,000. Lord Abbett & CO. LLC purchased a new position in shares of The Baldwin Insurance Group during the 3rd quarter worth approximately $29,447,000. Finally, JPMorgan Chase & Co. raised its position in shares of The Baldwin Insurance Group by 1,946.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,235,868 shares of the company’s stock worth $61,546,000 after purchasing an additional 1,175,484 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

About The 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.