Baldwin Insurance Group (NASDAQ:BWIN) Hits New 52-Week Low Following Analyst Downgrade

Baldwin Insurance Group, Inc. (NASDAQ:BWIN)’s stock price reached a new 52-week low on Monday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The company traded as low as $18.57 and last traded at $18.8510, with a volume of 376982 shares. The stock had previously closed at $19.57.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group restated a “hold” rating and issued a $28.00 price target on shares of Baldwin Insurance Group in a research note on Monday, December 15th. Wall Street Zen upgraded shares of Baldwin Insurance Group from a “sell” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. lowered their target price on shares of Baldwin Insurance Group from $33.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Baldwin Insurance Group in a research note on Monday, December 29th. Finally, BMO Capital Markets reduced their price target on Baldwin Insurance Group from $34.00 to $33.00 and set a “market perform” rating on the stock in a research report on Thursday, December 4th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.83.

Insider Activity

In related news, insider James Morgan Roche sold 80,000 shares of Baldwin Insurance Group stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $24.03, for a total value of $1,922,400.00. Following the transaction, the insider directly owned 42,113 shares of the company’s stock, valued at $1,011,975.39. This trade represents a 65.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 255,000 shares of company stock worth $6,119,000. Company insiders own 18.51% of the company’s stock.

Institutional Investors Weigh In On Baldwin Insurance Group

A number of large investors have recently modified their holdings of the business. New York State Common Retirement Fund increased its holdings in shares of Baldwin Insurance Group by 422.6% during the second quarter. New York State Common Retirement Fund now owns 257,384 shares of the company’s stock worth $11,019,000 after buying an additional 208,137 shares in the last quarter. Fenimore Asset Management Inc boosted its holdings in shares of Baldwin Insurance Group by 44.3% during the 3rd quarter. Fenimore Asset Management Inc now owns 507,057 shares of the company’s stock valued at $14,304,000 after acquiring an additional 155,654 shares in the last quarter. Westwood Holdings Group Inc. grew its position in Baldwin Insurance Group by 8.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,920,530 shares of the company’s stock worth $82,218,000 after acquiring an additional 142,506 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Baldwin Insurance Group by 84.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 201,557 shares of the company’s stock worth $8,629,000 after acquiring an additional 91,991 shares during the last quarter. Finally, KLP Kapitalforvaltning AS increased its holdings in Baldwin Insurance Group by 10.6% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 14,600 shares of the company’s stock worth $625,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Baldwin Insurance Group Stock Down 2.9%

The firm has a 50-day simple moving average of $23.72 and a 200 day simple moving average of $27.30. The stock has a market capitalization of $1.96 billion, a P/E ratio of -38.39, a P/E/G ratio of 0.62 and a beta of 1.33. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.15 and a quick ratio of 1.15.

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.