The Baldwin Insurance Group, Inc. (BWIN)

The Baldwin Insurance Group Holdings, LLC • BRP Middle Market Insurance Holdings, LLC • The Baldwin Group • AHT GovConRisk, LLC • Baldwin Risk Partners Insurance Brokers, LLC • 360 Rx Solutions, LLC • Burnham Risk and Insurance Solutions, LLC • Insgroup Dallas, LLC • Baldwin Risk Partners (Genuine), LLC • BRP Insurance Intermediary Holdings, LLC ...

IRS number

611937225

BWIN stock data

1M 3M 6M 1Y

Analyst ratings and price targets

Last 3 months

Average target

$40.33

Low target

$33.00

High target

$49.00

Keefe, Bruyette & Woods

Latest filings (excl ownership)

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S-8

Registration of securities for employees

25 Feb 25

The Baldwin Group Announces Fourth Quarter and Full Year 2024 Results

25 Feb 25

8-K

Entry into a Material Definitive Agreement

4 Nov 24

The Baldwin Group Announces Third Quarter 2024 Results

4 Nov 24

8-K

Entry into a Material Definitive Agreement

6 Aug 24

The Baldwin Group Announces Second Quarter 2024 Results

6 Aug 24

8-K

Submission of Matters to a Vote of Security Holders

6 Jun 24

Transcripts

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BWIN

Earnings call transcript

2024 Q1

7 May 24

BWIN

Earnings call transcript

2023 Q4

28 Feb 24

BWIN

Earnings call transcript

2023 Q3

7 Nov 23

BWIN

Earnings call transcript

2023 Q2

9 Aug 23

BWIN

Earnings call transcript

2023 Q2

9 Aug 23

BWIN

Earnings call transcript

2023 Q1

9 May 23

BWIN

Earnings call transcript

2022 Q4

28 Feb 23

BWIN

Earnings call transcript

2022 Q3

8 Nov 22

BWIN

Earnings call transcript

2022 Q2

10 Aug 22

BWIN

Earnings call transcript

2022 Q1

15 May 22

Latest ownership filings

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Seth Bala Cohen

28 Feb 25

144

Notice of proposed sale of securities

WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC

Financial summary

Financial statements Chart BWIN financial data

Quarter (USD)	Dec 24	Sep 24	Jun 24	Mar 24
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 24	Dec 23	Dec 22	Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	312.77 mm	312.77 mm	312.77 mm	312.77 mm	312.77 mm	312.77 mm
Cash burn (monthly)	10.65 mm	(no burn)	11.75 mm	789.08 k	(no burn)	(no burn)
Cash used (since last report)	22.15 mm	n/a	24.45 mm	1.64 mm	n/a	n/a
Cash remaining	290.62 mm	n/a	288.32 mm	311.13 mm	n/a	n/a
Runway (months of cash)	27.3	n/a	24.5	394.3	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q3 2024

BWIN institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	226	192	+17.7%
Opened positions	50	45	+11.1%
Closed positions	16	25	-36.0%
Increased positions	61	68	-10.3%
Reduced positions	75	46	+63.0%

13F shares	Current	Prev Q	Change
Total value	3.01 tn	2.13 tn	+41.4%
Total shares	88.65 mm	90.50 mm	-2.1%
Total puts	154.10 k	170.40 k	-9.6%
Total calls	167.00 k	96.00 k	+74.0%
Total put/call ratio	0.9	1.8	-48.0%

Largest owners	Shares	Value	Change
Baldwin Lowry	12.98 mm	$612.41 mm	-16.2%
FMR	9.92 mm	$493.88 bn	-0.0%
Vanguard	6.41 mm	$319.32 bn	+1.8%
BlackRock	4.96 mm	$247.01 bn	NEW
Holdings, Inc./NV IHC	3.86 mm	$113.61 mm	0.0%
Bamco	3.01 mm	$149.90 bn	-7.7%
William Blair Investment Management	2.71 mm	$134.96 bn	-12.1%
MQBKY Macquarie Group Limited	2.58 mm	$128.32 bn	-25.2%
Champlain Investment Partners	2.56 mm	$127.52 bn	-39.6%
Capital International Investors	2.34 mm	$116.76 bn	+1706.3%

Largest transactions	Shares	Bought/sold	Change
BlackRock	4.96 mm	+4.96 mm	NEW
BLK BlackRock	0.00	-4.75 mm	EXIT
Baldwin Lowry	12.98 mm	-2.51 mm	-16.2%
Capital International Investors	2.34 mm	+2.21 mm	+1706.3%
Champlain Investment Partners	2.56 mm	-1.68 mm	-39.6%
JPM JPMorgan Chase & Co.	1.24 mm	+1.18 mm	+1946.7%
MQBKY Macquarie Group Limited	2.58 mm	-868.65 k	-25.2%
Westfield Capital Management	718.46 k	+718.46 k	NEW
Lord, Abbett & Co.	591.32 k	+591.32 k	NEW
WHG Westwood	1.69 mm	-529.24 k	-23.8%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

BWIN insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
27 Feb 25	Seth Bala Cohen	Class A Common Stock	Sell	Dispose S	No	No	41.54	12,293	510.65 k	8,813
19 Feb 25	Bradford Hale	Class A Common Stock	Payment of exercise	Dispose F	No	No	40.85	11,929	487.30 k	119,174
19 Feb 25	Bradford Hale	Class A Common Stock	Grant	Acquire A	No	No	0	32,972	0.00	131,103
19 Feb 25	Corbyn N. Galloway	Class A Common Stock	Payment of exercise	Dispose F	No	No	40.85	2,444	99.84 k	41,671
19 Feb 25	Corbyn N. Galloway	Class A Common Stock	Grant	Acquire A	No	No	0	6,593	0.00	44,115
19 Feb 25	Galbraith Daniel	Class A Common Stock	Payment of exercise	Dispose F	No	No	40.85	11,928	487.26 k	27,329
19 Feb 25	Galbraith Daniel	Class A Common Stock	Grant	Acquire A	No	No	0	32,972	0.00	39,257
19 Feb 25	Seth Bala Cohen	Class A Common Stock	Payment of exercise	Dispose F	No	No	40.85	4,192	171.24 k	21,106
19 Feb 25	Seth Bala Cohen	Class A Common Stock	Grant	Acquire A	No	No	0	16,485	0.00	25,298