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

$29.33

Low target

$27.00

High target

$33.00

Latest filings (excl ownership)

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$551.70 mm in equity, sold $551.70 mm, 267 investors

15 Jan 26

$9.43 mm in equity, sold $9.43 mm, 2 investors

14 Jan 26

$8.43 mm in equity, sold $8.43 mm, 1 investor

14 Jan 26

8-K

Financial Statements and Exhibits

2 Jan 26

424B7

Prospectus with selling stockholder info

2 Jan 26

8-K

Entry into a Material Definitive Agreement

2 Jan 26

8-K

The Baldwin Group and CAC Group to Merge, Creating the Largest Majority Colleague-Owned, Publicly-Traded Insurance Broker

4 Nov 25

The Baldwin Group Announces Third Quarter 2025 Results

4 Nov 25

8-K

Entry into a Material Definitive Agreement

18 Sep 25

Latest ownership filings

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CHRIS THOMAS SULLIVAN

5 Jan 26

Sunita Parasuraman

5 Jan 26

Sathish Muthukrishnan

Financial summary

Financial statements Chart BWIN financial data

Quarter (USD)	Sep 25	Jun 25	Mar 25	Dec 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)	325.94 mm	325.94 mm	325.94 mm	325.94 mm	325.94 mm	325.94 mm
Cash burn (monthly)	19.25 mm	1.56 mm	10.08 mm	(no burn)	(no burn)	(no burn)
Cash used (since last report)	82.63 mm	6.71 mm	43.26 mm	n/a	n/a	n/a
Cash remaining	243.31 mm	319.23 mm	282.69 mm	n/a	n/a	n/a
Runway (months of cash)	12.6	204.1	28.0	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q3 2025

BWIN institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	221	231	-4.3%
Opened positions	33	32	+3.1%
Closed positions	43	27	+59.3%
Increased positions	67	91	-26.4%
Reduced positions	73	65	+12.3%

13F shares	Current	Prev Q	Change
Total value	2.12 tn	3.08 tn	-31.0%
Total shares	102.28 mm	99.82 mm	+2.5%
Total puts	12.90 k	0.00	NEW
Total calls	141.50 k	104.10 k	+35.9%
Total put/call ratio	0.1	–	–

Largest owners	Shares	Value	Change
Baldwin Lowry	12.62 mm	$525.35 mm	0.0%
FMR	10.76 mm	$303.41 bn	+31.9%
Vanguard	6.56 mm	$185.19 bn	-0.9%
BLK BlackRock	5.17 mm	$145.92 bn	-0.2%
William Blair Investment Management	5.10 mm	$144.00 bn	-5.5%
Capital Research Global Investors	4.51 mm	$127.32 bn	0.0%
Champlain Investment Partners	3.92 mm	$110.47 bn	+20.3%
Holdings, Inc./NV IHC	3.86 mm	$113.61 mm	0.0%
Capital International Investors	3.15 mm	$88.73 bn	0.0%
Bamco	3.01 mm	$84.92 bn	+0.0%

Largest transactions	Shares	Bought/sold	Change
FMR	10.76 mm	+2.60 mm	+31.9%
BK The Bank of New York Mellon Corporation	2.29 mm	+1.43 mm	+164.9%
Loomis Sayles & Co L P	0.00	-1.09 mm	EXIT
Champlain Investment Partners	3.92 mm	+659.43 k	+20.3%
Emerald Advisers	195.52 k	-610.77 k	-75.8%
WHG Westwood	2.49 mm	+568.53 k	+29.6%
GW&K Investment Management	17.76 k	-555.76 k	-96.9%
AMP Ameriprise Financial	502.56 k	+502.56 k	NEW
Emerald Mutual Fund Advisers Trust	52.12 k	-420.23 k	-89.0%
MQBKY Macquarie Group Limited	2.16 mm	-369.93 k	-14.6%

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	#Shares	#Remaining
2 Jan 26	Paul Eugene Sparks	Class A Common Stock	Grant	Acquire A	Yes	No	18,042	18,042
2 Jan 26	Paul Eugene Sparks	Class A Common Stock	Grant	Acquire A	Yes	No	96,787	96,787
2 Jan 26	Paul Eugene Sparks	Class A Common Stock	Grant	Acquire A	Yes	No	982,606	982,606
1 Jan 26	Matas Barbara Ruth	Class A Common Stock	Grant	Acquire A	No	No	1,054	17,172
1 Jan 26	Kadow Joseph John	Class A Common Stock	Grant	Acquire A	No	No	1,054	17,172
1 Jan 26	Sullivan Chris Thomas	Class A Common Stock	Grant	Acquire A	No	No	1,054	83,254
1 Jan 26	Sunita Parasuraman	Class A Common Stock	Grant	Acquire A	No	No	1,054	12,017

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.