JPMorgan Chase & Co. Has Lowered Expectations for The Baldwin Insurance Group (NASDAQ:BWIN) Stock Price

The Baldwin Insurance Group (NASDAQ:BWIN) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $47.00 to $46.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 20.61% from the company’s previous close.

A number of other research firms have also commented on BWIN. Jefferies Financial Group upped their price target on The Baldwin Insurance Group from $38.00 to $46.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. William Blair upgraded shares of The Baldwin Insurance Group from a “market perform” rating to an “outperform” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set 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 research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.50.

The Baldwin Insurance Group Stock Up 2.3 %

Shares of NASDAQ BWIN opened at $38.14 on Friday. The company has a 50 day simple moving average of $44.09 and a 200 day simple moving average of $44.16. 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 1 year low of $21.70 and a 1 year high of $55.82. The firm 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 Baldwin Insurance Group (NASDAQ:BWIN) last released its quarterly earnings results on Monday, November 4th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). The Baldwin Insurance Group had a negative net margin of 2.89% and a positive return on equity of 10.57%. The business had revenue of $339.90 million for the quarter, compared to the consensus estimate of $346.43 million. During the same period in the previous year, the business posted $0.15 EPS. The Baldwin Insurance Group’s revenue was up 11.0% on a year-over-year basis. On average, research analysts forecast that The Baldwin Insurance Group will post 1.01 EPS for the current year.

Insider Transactions at The Baldwin Insurance Group

In related news, major shareholder Elizabeth Krystyn sold 88,306 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $43.05, for a total value of $3,801,573.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. 20.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BWIN. Lord Abbett & CO. LLC bought a new position in The Baldwin Insurance Group during the 3rd quarter valued at $29,447,000. JPMorgan Chase & Co. lifted its position in shares of The Baldwin Insurance Group by 1,946.7% during the third quarter. JPMorgan Chase & Co. now owns 1,235,868 shares of the company’s stock valued at $61,546,000 after purchasing an additional 1,175,484 shares in the last quarter. Peapack Gladstone Financial Corp purchased a new position in The Baldwin Insurance Group during the third quarter worth about $263,000. Finally, Confluence Investment Management LLC bought a new stake in The Baldwin Insurance Group in the 4th quarter worth about $16,747,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

The Baldwin Insurance Group Company 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.