Tributary Capital Management LLC Reduces Holdings in Baldwin Insurance Group, Inc. $BWIN

Tributary Capital Management LLC decreased its position in shares of Baldwin Insurance Group, Inc. (NASDAQ:BWIN) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 378,218 shares of the company’s stock after selling 29,508 shares during the quarter. Tributary Capital Management LLC owned approximately 0.32% of Baldwin Insurance Group worth $9,089,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in BWIN. Dorato Capital Management purchased a new position in shares of Baldwin Insurance Group during the fourth quarter worth about $35,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Baldwin Insurance Group during the third quarter worth about $39,000. Strs Ohio purchased a new position in shares of Baldwin Insurance Group during the first quarter worth about $72,000. AlphaQuest LLC grew its holdings in shares of Baldwin Insurance Group by 249.2% during the third quarter. AlphaQuest LLC now owns 1,952 shares of the company’s stock worth $55,000 after buying an additional 1,393 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of Baldwin Insurance Group during the second quarter worth about $212,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Baldwin Insurance Group Price Performance

BWIN stock opened at $25.04 on Friday. The firm has a 50 day moving average of $20.50 and a 200-day moving average of $23.51. Baldwin Insurance Group, Inc. has a 12-month low of $15.88 and a 12-month high of $45.16. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.54. The company has a market cap of $3.58 billion, a price-to-earnings ratio of -51.10, a PEG ratio of 0.92 and a beta of 1.30.

Baldwin Insurance Group (NASDAQ:BWIN) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Baldwin Insurance Group had a negative net margin of 2.25% and a positive return on equity of 12.60%. The company had revenue of $347.28 million during the quarter, compared to the consensus estimate of $351.75 million. During the same period last year, the firm earned $0.27 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts expect that Baldwin Insurance Group, Inc. will post 1.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Paul Eugene Sparks acquired 15,200 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was purchased at an average cost of $22.10 per share, for a total transaction of $335,920.00. Following the transaction, the director directly owned 996,706 shares of the company’s stock, valued at approximately $22,027,202.60. This trade represents a 1.55% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Elizabeth Krystyn sold 119,987 shares of Baldwin Insurance Group stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $21.25, for a total value of $2,549,723.75. The disclosure for this sale is available in the SEC filing. 18.51% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BWIN shares. UBS Group lowered their price target on Baldwin Insurance Group from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Bank of America lowered their price target on Baldwin Insurance Group from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. TD Cowen started coverage on Baldwin Insurance Group in a report on Wednesday, February 25th. They set a “buy” rating on the stock. Zacks Research lowered Baldwin Insurance Group from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Finally, Keefe, Bruyette & Woods lowered their price target on Baldwin Insurance Group from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.13.

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.