The Baldwin Insurance Group (NASDAQ:BWIN) Shares Gap Down After Earnings Miss

The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $46.17, but opened at $37.61. The Baldwin Insurance Group shares last traded at $36.68, with a volume of 361,157 shares changing hands.

The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). The company had revenue of $339.90 million during the quarter, compared to the consensus estimate of $346.43 million. The Baldwin Insurance Group had a negative net margin of 3.67% and a positive return on equity of 10.46%. The Baldwin Insurance Group’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BWIN. JPMorgan Chase & Co. boosted their price target on The Baldwin Insurance Group from $45.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their target price on shares of The Baldwin Insurance Group from $38.00 to $46.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. UBS Group increased their price target on shares of The Baldwin Insurance Group from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Keefe, Bruyette & Woods boosted their price objective on shares of The Baldwin Insurance Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company cut their target price on shares of The Baldwin Insurance Group from $46.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.17.

Insiders Place Their Bets

In other news, insider James Morgan Roche sold 85,222 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $41.50, for a total value of $3,536,713.00. Following the transaction, the insider now directly owns 254,681 shares of the company’s stock, valued at $10,569,261.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Lowry Baldwin sold 50,000 shares of The Baldwin Insurance Group stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $46.74, for a total transaction of $2,337,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Morgan Roche sold 85,222 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $41.50, for a total value of $3,536,713.00. Following the completion of the sale, the insider now owns 254,681 shares of the company’s stock, valued at $10,569,261.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 468,149 shares of company stock valued at $20,247,146 over the last ninety days. 20.14% of the stock is currently owned by company insiders.

The Baldwin Insurance Group Stock Up 10.0 %

The firm has a market cap of $5.26 billion, a price-to-earnings ratio of -55.90, a price-to-earnings-growth ratio of 1.23 and a beta of 1.60. The firm’s 50 day moving average price is $49.12. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.98 and a quick ratio of 0.98.

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.