Tributary Capital Management LLC Sells 31,919 Shares of Baldwin Insurance Group, Inc. $BWIN

Tributary Capital Management LLC reduced its position in shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN) by 7.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 423,605 shares of the company’s stock after selling 31,919 shares during the quarter. Baldwin Insurance Group comprises approximately 1.6% of Tributary Capital Management LLC’s holdings, making the stock its 23rd largest holding. Tributary Capital Management LLC owned 0.36% of Baldwin Insurance Group worth $18,135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BWIN. Bessemer Group Inc. boosted its position in shares of Baldwin Insurance Group by 36.4% during the 1st quarter. Bessemer Group Inc. now owns 43,065 shares of the company’s stock valued at $1,924,000 after acquiring an additional 11,485 shares during the last quarter. Diversified Trust Co lifted its position in Baldwin Insurance Group by 35.4% in the first quarter. Diversified Trust Co now owns 27,542 shares of the company’s stock worth $1,231,000 after buying an additional 7,206 shares during the last quarter. KBC Group NV lifted its position in Baldwin Insurance Group by 12.1% in the first quarter. KBC Group NV now owns 3,675 shares of the company’s stock worth $164,000 after buying an additional 396 shares during the last quarter. Peregrine Capital Management LLC lifted its position in Baldwin Insurance Group by 3.1% in the first quarter. Peregrine Capital Management LLC now owns 429,484 shares of the company’s stock worth $19,194,000 after buying an additional 12,908 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Baldwin Insurance Group in the first quarter worth $441,000. 77.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BWIN has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price target on Baldwin Insurance Group from $31.00 to $28.00 and set an “underweight” rating for the company in a research report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and issued a $40.00 price target (down from $48.00) on shares of Baldwin Insurance Group in a research report on Thursday, August 7th. BMO Capital Markets restated a “market perform” rating and issued a $33.00 price target (down from $38.00) on shares of Baldwin Insurance Group in a research report on Monday, October 13th. Wall Street Zen lowered Baldwin Insurance Group from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Finally, Zacks Research upgraded Baldwin Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $37.67.

Baldwin Insurance Group Price Performance

BWIN opened at $23.56 on Thursday. The business’s 50-day moving average is $29.80 and its two-hundred day moving average is $36.25. Baldwin Insurance Group, Inc. has a 1 year low of $22.15 and a 1 year high of $52.42. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $2.80 billion, a PE ratio of -81.24, a price-to-earnings-growth ratio of 1.15 and a beta of 1.39.

Baldwin Insurance Group (NASDAQ:BWIN) last posted its earnings results on Tuesday, August 5th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Baldwin Insurance Group had a positive return on equity of 13.24% and a negative net margin of 1.22%.The company had revenue of $378.81 million for the quarter, compared to analyst estimates of $375.38 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. Research analysts anticipate that Baldwin Insurance Group, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Bradford Hale bought 10,000 shares of the stock in a transaction that occurred 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 purchase, the chief financial officer directly owned 144,659 shares of the company’s stock, valued at approximately $4,154,606.48. This trade represents a 7.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 18.51% of the stock is owned by company insiders.

Baldwin Insurance Group 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.