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

The Baldwin Insurance Group, Inc. (NASDAQ:BWIN - Get Free Report)'s stock price gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. 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 trading hands.

The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). The company had revenue of $339.90 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $0.15 earnings per share.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BWIN. Wells Fargo & Company dropped their target price on The Baldwin Insurance Group from $46.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Tuesday. UBS Group upped 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 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. JPMorgan Chase & Co. upped their target price on The Baldwin Insurance Group from $45.00 to $54.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their price target on The Baldwin Insurance Group from $40.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $47.17.

Insider Activity

In other news, insider James Morgan Roche sold 150,000 shares of The Baldwin Insurance Group stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $42.17, for a total value of $6,325,500.00. Following the sale, the insider now owns 184,226 shares in the company, valued at $7,768,810.42. This trade 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 is available through this link. In other The Baldwin Insurance Group news, insider Daniel Galbraith sold 75,000 shares of The Baldwin Insurance Group stock in a transaction 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 sale, the insider now owns 6,285 shares of the company's stock, valued at $291,184.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Morgan Roche sold 150,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $42.17, for a total transaction of $6,325,500.00. Following the completion of the sale, the insider now owns 184,226 shares of the company's stock, valued at $7,768,810.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 508,616 shares of company stock worth $21,947,676 over the last three months. 20.14% of the stock is currently owned by corporate insiders.

The Baldwin Insurance Group Stock Performance

The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of -50.83, a PEG ratio of 1.23 and a beta of 1.60. The stock has a 50 day moving average of $49.16. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.34.

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.