The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) Sees Large Growth in Short Interest

The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 3,750,000 shares, a growth of 18.7% from the October 15th total of 3,160,000 shares. Based on an average daily trading volume, of 628,600 shares, the days-to-cover ratio is presently 6.0 days. Approximately 5.6% of the shares of the stock are sold short.

The Baldwin Insurance Group Price Performance

BWIN stock traded down $0.46 during trading on Friday, hitting $43.93. 468,226 shares of the company traded hands, compared to its average volume of 475,682. The Baldwin Insurance Group has a 1 year low of $17.33 and a 1 year high of $55.82. The firm has a market capitalization of $5.17 billion, a P/E ratio of -68.64, a PEG ratio of 1.31 and a beta of 1.60. The stock’s 50-day moving average is $49.03. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.35.

The Baldwin Insurance Group (NASDAQ:BWIN) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The Baldwin Insurance Group had a positive return on equity of 10.57% and a negative net margin of 2.89%. The firm had revenue of $339.90 million for the quarter, compared to analysts’ expectations of $346.43 million. During the same period last year, the company posted $0.15 earnings per share. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Research analysts expect that The Baldwin Insurance Group will post 1.03 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective 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, November 5th. JPMorgan Chase & Co. lifted 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. UBS Group increased their price objective on The Baldwin Insurance Group from $43.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. William Blair upgraded The Baldwin Insurance Group from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group upped their target price 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. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Baldwin Insurance Group currently has an average rating of “Moderate Buy” and a consensus target price of $47.17.

Insider Activity

In related news, insider Daniel Galbraith sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $46.33, for a total transaction of $3,474,750.00. Following the completion of the transaction, the insider now owns 6,285 shares in the company, valued at $291,184.05. The trade was a 92.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James Morgan Roche sold 75,380 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $42.79, for a total value of $3,225,510.20. Following the transaction, the insider now owns 108,846 shares in the company, valued at approximately $4,657,520.34. This trade represents a 40.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 200,380 shares of company stock worth $9,037,260. 20.14% of the stock is currently owned by corporate insiders.

About The Baldwin Insurance Group

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.