Peregrine Capital Management LLC Acquires New Position in Baldwin Insurance Group, Inc. $BWIN

Peregrine Capital Management LLC acquired a new position in shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 266,910 shares of the company’s stock, valued at approximately $5,856,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Baldwin Insurance Group by 6.1% during the 1st 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 period. Millennium Management LLC increased its stake in Baldwin Insurance Group by 371.9% in the 1st quarter. Millennium Management LLC now owns 254,734 shares of the company’s stock valued at $11,384,000 after purchasing an additional 200,754 shares in the last quarter. NewEdge Advisors LLC raised its holdings 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 purchasing an additional 700 shares during the last quarter. Goldman Sachs Group Inc. boosted 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 worth $16,964,000 after purchasing an additional 13,058 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Baldwin Insurance Group by 6.6% in 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 purchasing an additional 11,768 shares during the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BWIN. Morgan Stanley set a $28.00 price objective on shares of Baldwin Insurance Group in a research note on Monday, June 22nd. Zacks Research upgraded Baldwin Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. Bank of America decreased their price objective on Baldwin Insurance Group from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. UBS Group dropped their price objective on Baldwin Insurance Group from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, June 9th. Finally, Wells Fargo & Company boosted their target price on shares of Baldwin Insurance Group from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.89.

Insider Activity at Baldwin Insurance Group

In other news, major shareholder Elizabeth Krystyn sold 130,018 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $21.20, for a total value of $2,756,381.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.51% of the stock is currently owned by corporate insiders.

Baldwin Insurance Group Price Performance

BWIN opened at $26.91 on Thursday. Baldwin Insurance Group, Inc. has a 52-week low of $15.88 and a 52-week high of $43.64. The company has a 50 day moving average of $21.35 and a two-hundred day moving average of $21.91. The company has a market cap of $3.84 billion, a P/E ratio of -40.16, a P/E/G ratio of 0.94 and a beta of 1.08. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.51.

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

Baldwin Insurance Group Profile

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.