Baldwin Insurance Group (NASDAQ:BWIN) Rating Increased to Overweight at JPMorgan Chase & Co.

Baldwin Insurance Group (NASDAQ:BWIN) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Monday, MarketBeat Ratings reports. The brokerage presently has a $28.00 target price on the stock, up from their previous target price of $25.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 38.34% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Zacks Research upgraded Baldwin Insurance Group from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Raymond James Financial raised Baldwin Insurance Group from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $20.00 to $30.00 in a research report on Friday, February 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Baldwin Insurance Group in a report on Friday, March 27th. Morgan Stanley set a $28.00 target price on Baldwin Insurance Group in a report on Monday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Baldwin Insurance Group from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.78.

Baldwin Insurance Group Price Performance

Shares of NASDAQ:BWIN opened at $20.24 on Monday. The firm has a 50 day moving average of $21.01 and a 200-day moving average of $21.85. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.51. Baldwin Insurance Group has a 12 month low of $15.88 and a 12 month high of $45.16. The stock has a market capitalization of $2.89 billion, a PE ratio of -30.21, a PEG ratio of 0.72 and a beta of 1.16.

Baldwin Insurance Group (NASDAQ:BWIN) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $532.24 million for the quarter, compared to analyst estimates of $524.07 million. Baldwin Insurance Group had a positive return on equity of 12.35% and a negative net margin of 2.80%.The firm’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the company posted $0.65 earnings per share. On average, equities research analysts predict that Baldwin Insurance Group will post 1.38 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Elizabeth Krystyn sold 130,018 shares of Baldwin Insurance Group stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $21.20, for a total transaction of $2,756,381.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 20.14% of the company’s stock.

Institutional Investors Weigh In On Baldwin Insurance Group

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Baldwin Insurance Group by 6.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,166 shares of the company’s stock worth $1,795,000 after buying an additional 2,309 shares during the period. Millennium Management LLC boosted its holdings in shares of Baldwin Insurance Group by 371.9% in the 1st 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 during the period. NewEdge Advisors LLC boosted its stake in 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 buying an additional 700 shares during the period. Goldman Sachs Group Inc. increased its position 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 last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Baldwin Insurance Group by 6.6% during the first 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 buying an additional 11,768 shares during the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

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.