The Baldwin Insurance Group (NASDAQ:BWIN) Given New $46.00 Price Target at JPMorgan Chase & Co.

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

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

The Baldwin Insurance Group Stock Up 2.3 %

The Baldwin Insurance Group stock opened at $38.14 on Friday. The Baldwin Insurance Group has a fifty-two week low of $21.70 and a fifty-two week high of $55.82. The stock has a market cap of $4.48 billion, a PE ratio of -59.59, a price-to-earnings-growth ratio of 1.27 and a beta of 1.58. The firm’s 50-day simple moving average is $44.09 and its 200 day simple moving average is $44.16. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.98 and a current ratio of 0.98.

The Baldwin Insurance Group (NASDAQ:BWIN) last released its quarterly earnings results on Monday, November 4th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). The Baldwin Insurance Group had a positive return on equity of 10.57% and a negative net margin of 2.89%. The firm had revenue of $339.90 million for the quarter, compared to analysts’ expectations of $346.43 million. During the same quarter last year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts predict that The Baldwin Insurance Group will post 1.01 EPS for the current fiscal year.

Insider Activity at The Baldwin Insurance Group

In related news, major shareholder Elizabeth Krystyn sold 191,307 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.14% of the stock is currently owned by corporate insiders.

Institutional Trading of The Baldwin Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Peapack Gladstone Financial Corp bought a new position in shares of The Baldwin Insurance Group in the third quarter worth $263,000. Confluence Investment Management LLC bought a new position in The Baldwin Insurance Group in the 4th quarter worth about $16,747,000. Lord Abbett & CO. LLC purchased a new stake in shares of The Baldwin Insurance Group in the 3rd quarter valued at about $29,447,000. Finally, JPMorgan Chase & Co. boosted 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 valued at $61,546,000 after acquiring an additional 1,175,484 shares during the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

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.