Wells Fargo & Company Raises Price Target for Baldwin Insurance Group to $46.00

Wells Fargo & Company has increased its price target for The Baldwin Insurance Group (NASDAQ:BWIN) from $39.00 to $46.00 according to a recent research report shared with clients and investors. This update, reported on Thursday, indicates that Wells Fargo currently maintains an “equal weight” rating on the company’s stock. The revised price target suggests a possible downside of 10.89% based on the stock’s previous closing price.

In addition to Wells Fargo's assessment, several other equities analysts have recently commented on the performance of The Baldwin Insurance Group. For instance, Keefe, Bruyette & Woods also elevated their price target for the stock from $40.00 to $46.00, labeling the company with an “outperform” rating in their report dated August 7th. Furthermore, JPMorgan Chase & Co. raised their price objective from $33.00 to $39.00, rating the stock as “overweight” on July 11th. Meanwhile, Jefferies Financial Group increased their target from $38.00 to $46.00, giving the stock a “hold” rating.

UBS Group has likewise raised its price target on The Baldwin Insurance Group from $43.00 to $49.00, issuing a “buy” rating on August 13th. Current consensus among six analysts indicates two hold ratings, three buy ratings, and one strong buy rating for the company. Market data illustrates that The Baldwin Insurance Group has a consensus rating of “Moderate Buy” with an average target price set at $47.67.

Current Stock Performance

On Thursday, The Baldwin Insurance Group stock commenced trading at $51.62. The company’s fifty-day moving average stands at $46.35. Financial indicators show a debt-to-equity ratio of 1.34, alongside a quick ratio and current ratio of both 0.98. Throughout the last twelve months, the stock has seen a low of $17.33 and a high of $52.83. Its market capitalization is estimated at $6.07 billion, with a negative price-to-earnings (PE) ratio of -56.11 and a PE/G ratio of 1.39.

Earnings Results Overview

The Baldwin Insurance Group reported its quarterly earnings on August 6th, achieving an earnings per share (EPS) of $0.34, slightly surpassing the consensus estimate of $0.33 by $0.01. However, the company experienced a negative net margin of 3.67%, yet managed a positive return on equity of 10.46%. Revenue for the quarter was reported at $339.80 million, exceeding analyst expectations of $334.95 million. Compared to the previous year’s results, the company’s revenue saw an increase of 14.3%. Analysts forecast that The Baldwin Insurance Group will declare an EPS of 1.11 for the current fiscal year.

Insider Trading Activities

In related news concerning The Baldwin Insurance Group, Director Lowry Baldwin sold 50,000 shares in a transaction that took place on August 30th. This transaction was recorded at an average share price of $46.74, totaling $2,337,000. Additionally, insider James Morgan Roche sold 36,684 shares on August 8th for an average price of $41.96, which equaled around $1,539,260.64. Following this sale, Roche retained 396,815 shares valued at approximately $16.65 million. Across the last quarter, insiders sold 508,616 shares of the company’s stock valued at about $21.95 million, and currently hold 20.14% of the company’s shares.

About The Baldwin Insurance Group

The Baldwin Insurance Group operates as an independent insurance distribution company in the United States, providing various insurance and risk management solutions. The firm operates through three main divisions: Insurance Advisory Solutions, Underwriting, Capacity & Technology Solutions, and Mainstreet Insurance Solutions.

stock, insurance, target