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Baldwin Insurance Group, Inc. (BWIN) stock

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NASDAQ: BWIN Nasdaq Insurance Brokers Next results ~November 3, 2026

D Fundamentals grade

Baldwin Insurance Group, Inc. is a US-listed company in the insurance brokers industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$49

Forward price-to-earnings vs peers

Base case. Range ~$43–$56. Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Baldwin Insurance Group, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 3 selling2 purchases and 12 sales by directors and officers, last 12 monthsInsider trades
  • Funds105 adding, 100 cuttingOf 38 active managers that changed their stake, 19 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Baldwin Insurance Group files

Where Baldwin Insurance stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.74bn, up 18.9% on a year earlier, faster than the 14.2% growth a quarter earlier. That growth ranks 3 of 11 among the insurance brokers companies we cover. The diluted share count is up 23.3% on a year earlier, which dilutes existing holders. Our valuation models combined value is $28.76 a share, against a share price of $31.91.

Source: 10-Q filed July 30, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Baldwin Insurance Group, Inc.'s trailing-twelve-month revenue grew 18.9% year on year, with a free-cash-flow margin of 2.5%. Where it stands out: change in growth rate of +4.8pp ranks 4 of 17 insurance brokers companies we cover. Where it lags: change in share count of 23.3% ranks 11 of 12 insurance brokers companies we cover.

Current signal Balance sheet growing far ahead of sales: Total assets grew 65% year over year while revenue grew 19% — the balance sheet is expanding 46 points faster than the business it supports.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 18.9% over the last 12 months, against a median of 7.6% for insurance brokers companies we cover.
  • Growth speeding up. The growth rate is 4.8 points higher than a quarter earlier.
  • Net cash. Cash exceeds long-term debt by $0.2bn.

Things to watch

  • Loss-making. Operating margin is -6.9%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 13.3 points on a year ago.
  • Share dilution. Diluted shares rose 23.3% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 60% and a beta of -0.0 against the S&P 500.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 4.3% ranks 14 of 16 insurance brokers companies we cover (median 1.5%).

Latest results: FY2026 Q2

Filed July 30, 2026
Earnings per share
$0.42 against an average estimate of $0.43: missed by 2.8%
Revenue
$493m, up 30.1% on a year earlier
Share reaction
-0.1% in the first session after the results on October 27, 2026, against +0.9% for the S&P 500
Next report
November 3, 2026; average EPS estimate $0.43

Baldwin Insurance Group's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.0%
  • 1 week-0.2%
  • 1 month+0.5%
  • This year+32.8%
  • 1 year+44.4%
  • 5 years-15.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.7B
Operating margin
-6.9%
Net margin
-4.7%
EPS (TTM, diluted)
$-1.00

Growth

Revenue growth
+18.9%
Change in growth rate
+4.8 pts
Share count change
+23.3%

Earnings

Last results
October 27, 2026
Next results (est.)
January 25, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Leadership
  3. Agreement
  4. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Baldwin Insurance Group, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Baldwin Insurance Group, Inc. as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 7.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.63 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$49 ~$43–$56 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$2.2 ~$3.1–$42 Left out: out of range vs price (0.07x)
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. — Does not apply: pays no regular dividend
Cash-flow model (DCF) Free cash flow after stock pay, grown then faded to 2.5%, discounted at 8.5%. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Combined value Weighted average of the models that apply: the primary model (forward price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$49 ~$43–$56 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Baldwin Insurance Group, Inc. with insurance brokers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: High.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $474m and EPS of $0.43 (range $0.43 to $0.43) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.95 +17% $2.0bn +32%
Next $2.48 +27% $2.2bn +11%

Next year's EPS estimate has moved −0.9% in 90 days, across 9 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −3.3% on 90 days ago. In the last 30 days, 4 analysts raised Baldwin Insurance Group, Inc.'s forecast and 4 cut it.

Consensus EPS forecast Baldwin Insurance Group, Inc., last 90 days
$1.80 $2.00 $2.20 $2.40 $2.60 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.02 Current fiscal year, 60 days ago: $2.01 Current fiscal year, 30 days ago: $2.01 Current fiscal year, 7 days ago: $2.01 Current fiscal year, Now: $1.95 $1.95 Next fiscal year, 90 days ago: $2.50 Next fiscal year, 60 days ago: $2.48 Next fiscal year, 30 days ago: $2.48 Next fiscal year, 7 days ago: $2.48 Next fiscal year, Now: $2.48 $2.48

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.02$2.50
60 days ago $2.01$2.48
30 days ago $2.01$2.48
7 days ago $2.01$2.48
Now $1.95$2.48

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.43 $0.42 −2.8%
Jun 2026 $0.47 $0.48 +2.1%
Mar 2026 $0.63 $0.63 +0.4%
Dec 2025 $0.29 $0.31 +7.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 27, 2026

No numeric guidance in Baldwin Insurance Group, Inc.'s latest earnings release (filed October 27, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

8 analysts, Oct 2026
Buy00%
Hold788%
Sell113%

Monthly trend

  1. Oct 2026718
  2. Sep 202622318
  3. Aug 202625310
  4. Jul 202625310

Counts of recommendations published by analysts covering Baldwin Insurance Group, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.3%
of tradable shares
Days to cover
1.63
at average volume
Short interest, 1 month
−44%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
2.6%
of shares
Employees
5,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +44.4%

$22.10 on October 31, 2025 to $31.92

ThenNowEffect
Revenue (last 12 months) $1.5bn $1.7bn +18.9%
P/S multiple 1.0x 1.5x +49.8%
Share count 66m 81m −18.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
BWIN+21%−30%−5%+61%−38%+33%
Industry peers (median)+6%−21%+21%+25%−19%−2%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
BWIN67%42%50%67%42%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
BWIN−24%−51%−45%−31%−54%−38%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 24, 2019: 70% from October 17, 2024 to February 13, 2026. Getting back needed a 235% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$16.50 – $32.49
From 52-week high
−1.8%
vs 50-day average
+1.5%
vs 200-day average
+27.1%
Volatility (1 year)
60%
Beta vs S&P 500
-0.04

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±8.8%
After a week
8 up, 3 down
typical move ±9.8%
After a month
8 up, 3 down
typical move ±13.2%
Results releasedNext dayS&P 500 next day5 days21 days
October 27, 2026 −0.1% +0.9% — —
July 30, 2026 −1.7% +2.4% +1.3% +8.7%
May 4, 2026 −3.4% +0.4% −8.5% −14.8%
February 26, 2026 +37.1% −1.0% +31.3% +24.5%
November 4, 2025 +13.0% −0.8% +22.4% +15.6%
August 5, 2025 −15.6% +0.3% −9.0% −13.1%
May 6, 2025 −3.7% −0.4% −5.4% −6.5%
February 25, 2025 +3.3% −0.4% +3.0% +13.6%
November 4, 2024 −10.2% +1.0% +8.0% +8.5%
August 6, 2024 +3.3% +0.2% +0.1% +13.0%
May 7, 2024 +11.8% +0.1% +8.5% +20.6%
February 28, 2024 +2.7% +0.2% +9.9% +6.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Baldwin Insurance Group, Inc. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Baldwin Insurance Group, Inc.
$1.2B $1.4B $1.6B $1.8B FY23 Q4 FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 Revenue (TTM), FY23 Q4: $1.2B Revenue (TTM), FY24 Q1: $1.3B Revenue (TTM), FY24 Q2: $1.3B Revenue (TTM), FY24 Q3: $1.3B Revenue (TTM), FY24 Q4: $1.4B Revenue (TTM), FY25 Q1: $1.4B Revenue (TTM), FY25 Q2: $1.5B Revenue (TTM), FY25 Q3: $1.5B Revenue (TTM), FY25 Q4: $1.5B Revenue (TTM), FY26 Q1: $1.6B Revenue (TTM), FY26 Q2: $1.7B $1.7B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $1.2B
FY24 Q1 $1.3B
FY24 Q2 $1.3B
FY24 Q3 $1.3B
FY24 Q4 $1.4B
FY25 Q1 $1.4B
FY25 Q2 $1.5B
FY25 Q3 $1.5B
FY25 Q4 $1.5B
FY26 Q1 $1.6B
FY26 Q2 $1.7B
Revenue growth, TTM YoY Baldwin Insurance Group, Inc.
5% 10% 15% 20% FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 Revenue growth, TTM YoY, FY24 Q4: 14.0% Revenue growth, TTM YoY, FY25 Q1: 12.1% Revenue growth, TTM YoY, FY25 Q2: 11.4% Revenue growth, TTM YoY, FY25 Q3: 10.7% Revenue growth, TTM YoY, FY25 Q4: 8.3% Revenue growth, TTM YoY, FY26 Q1: 14.2% Revenue growth, TTM YoY, FY26 Q2: 18.9% 18.9%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q4 14.0%
FY25 Q1 12.1%
FY25 Q2 11.4%
FY25 Q3 10.7%
FY25 Q4 8.3%
FY26 Q1 14.2%
FY26 Q2 18.9%
Operating margin (TTM) Baldwin Insurance Group, Inc.
-10% -5% 0% 5% 10% FY23 Q4 FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 Operating margin (TTM), FY23 Q4: -3.5% Operating margin (TTM), FY24 Q1: -0.9% Operating margin (TTM), FY24 Q2: 1.6% Operating margin (TTM), FY24 Q3: 2.7% Operating margin (TTM), FY24 Q4: 4.4% Operating margin (TTM), FY25 Q1: 5.8% Operating margin (TTM), FY25 Q2: 6.4% Operating margin (TTM), FY25 Q3: 5.5% Operating margin (TTM), FY25 Q4: 4.9% Operating margin (TTM), FY26 Q1: -5.1% Operating margin (TTM), FY26 Q2: -6.9% -6.9%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -3.5%
FY24 Q1 -0.9%
FY24 Q2 1.6%
FY24 Q3 2.7%
FY24 Q4 4.4%
FY25 Q1 5.8%
FY25 Q2 6.4%
FY25 Q3 5.5%
FY25 Q4 4.9%
FY26 Q1 -5.1%
FY26 Q2 -6.9%
FCF margin (TTM) Baldwin Insurance Group, Inc.
-10% -5% 0% 5% FY23 Q4 FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 FCF margin (TTM), FY23 Q4: -1.8% FCF margin (TTM), FY24 Q1: -0.7% FCF margin (TTM), FY24 Q2: -3.5% FCF margin (TTM), FY24 Q3: -0.4% FCF margin (TTM), FY24 Q4: 0.7% FCF margin (TTM), FY25 Q1: -4.0% FCF margin (TTM), FY25 Q2: -6.4% FCF margin (TTM), FY25 Q3: -5.6% FCF margin (TTM), FY25 Q4: -4.6% FCF margin (TTM), FY26 Q1: -0.9% FCF margin (TTM), FY26 Q2: 2.5% 2.5%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -1.8%
FY24 Q1 -0.7%
FY24 Q2 -3.5%
FY24 Q3 -0.4%
FY24 Q4 0.7%
FY25 Q1 -4.0%
FY25 Q2 -6.4%
FY25 Q3 -5.6%
FY25 Q4 -4.6%
FY26 Q1 -0.9%
FY26 Q2 2.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 567 981 1,219 1,389 1,505 1,738
EBITDA 20 55 56 170 202 69
Operating income −32 −31 −43 61 74 −120
Net income −31 −42 −90 −25 −34 −81
Diluted EPS −$0.64 −$0.74 −$1.50 −$0.39 −$0.50 −$1.00
Growth (year on year)
Revenue — +72.9% +24.3% +14.0% +8.3% +18.9%
EBITDA — +177.9% +1.1% +203.6% +19.0% −66.4%
Operating income — — — — +21.9% −227.4%
Margins
EBITDA margin 3.5% 5.6% 4.6% 12.2% 13.4% 4.0%
Operating margin −5.6% −3.2% −3.5% 4.4% 4.9% −6.9%
Net margin −5.4% −4.3% −7.4% −1.8% −2.2% −4.7%
Free-cash-flow margin 6.1% −2.5% −1.8% 0.7% −4.6% 2.5%
Cash flow
Cash from operations 40 −2 0 51 −29 91
Capital spending 5 22 21 41 40 47
Free cash flow 35 −24 −21 10 −69 44
Stock-based pay 19 47 60 66 71 75
Free cash flow after stock pay 16 −72 −81 −55 −140 −31
Balance sheet
Cash 138 118 116 90 124 184
Total debt 823 820 999 1,436 1,604 2,167
Net debt (negative = net cash) 685 702 883 1,346 1,480 1,982
Diluted shares 48m 57m 60m 63m 68m 81m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

Diluted share count
+23.3%
year over year

Competitors: side by side with peers

Closest by revenue in insurance brokers
Last 12 months unless stated BWIN SLQT HGTY CRD.A RYAN ERIE Median
Revenue, last 12 months $1.7bn $1.6bn $1.4bn $1.3bn $3.3bn $4.1bn $1.6bn
Revenue growth, last 12 months 18.9% 6.0% 5.2% −3.6% 9.8% 2.0% 7.6%
Revenue growth, 3-year average — 17.3% 17.1% −1.0% 18.0% 9.4% 13.8%
Revenue growth, latest quarter 30.1% −6.8% −6.5% −0.9% 4.7% 0.3% 4.7%
Gross margin — 54.9% — 28.2% — — 44.3%
Operating margin −6.9% 4.6% 8.0% — 15.6% 17.9% 9.4%
Operating margin, 3-year average 0.4% 4.6% 3.5% — 16.7% 17.7% 4.9%
Net margin −4.7% 3.8% 4.9% 2.0% 3.2% 14.0% 4.9%
Cash from operations / revenue 5.2% 2.0% 21.4% 6.1% 17.5% 16.8% 15.5%
Free-cash-flow margin 2.5% 1.7% 19.4% 5.5% 17.5% 13.4% 13.4%
Free-cash-flow margin, 3-year average −2.4% 0.6% 14.5% 5.0% 20.0% 13.5% 13.7%
Stock pay / revenue 4.3% 0.9% 1.3% 0.2% 2.2% — 1.4%
Change in share count 23.3% 3.5% — 3.1% — — 5.7%

Median of all 17 companies we cover in insurance brokers. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

17 insurance brokers companies
Measure Company Peer median Rank
Revenue growth Growth 18.9% 7.6% 6 of 17
Change in growth rate Growth +4.8pp -0.7pp 4 of 17
Operating margin Profitability -6.9% 10.8% 11 of 14
Net margin Profitability -4.7% 4.9% 14 of 17
Stock pay as % of revenue Cash generation 4.3% 1.5% 14 of 16
Change in share count Balance sheet 23.3% 7.4% 11 of 12

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Insurance Advisory Solutions $727M 48.3% ▲ 2.2%
Underwriting Capacity Technology Solutions $549M 36.5% ▲ 16.2%
Mainstreet Insurance Solutions $298M 19.8% ▲ 5.9%
Corporate and Other -$69.6M -4.6% —
Products and services
Line of business Revenue Share YoY
Commission Revenue $1.2B 79.4% ▲ 5.0%
Consulting and Service Fee Revenue $95.4M 6.4% ▲ 22.0%
Profit Sharing Revenue $94.1M 6.3% ▼ 1.5%
Policy Fee and Installment Fee Revenue $78.6M 5.3% ▲ 29.5%
Earned Premium $22.6M 1.5% —
Other Insurance Product Line $16.5M 1.1% ▲ 29.2%

From Baldwin Insurance Group, Inc.'s 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.4B
Institutions reporting
225
Shares held vs prior quarter
▼ 0.4%
Positions opened / closed
36 / 25

Top buyers and sellers, Q2 2026: 105 institutions bought and 100 sold ; the biggest buyer was Woodline Partners LP (+1.8M shares) and the biggest seller Nomura Holdings Inc (−1.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $392M 14.8M 16.5% ▲ 5.7%
Blackrock, Inc. $193M 7.3M 8.1% ▲ 9.0%
William Blair Investment Management, LLC $179M 6.7M 7.5% ▼ 0.9%
Vanguard Portfolio Management LLC $86.7M 3.3M 3.7% ▼ 6.1%
Vanguard Capital Management LLC $84.2M 3.2M 3.5% ▼ 8.6%
Bank Of New York Mellon Corp $81.8M 3.1M 3.4% ▼ 21.5%
BAMCO Inc $72.1M 2.7M 3.0% ▲ 0.1%
State Street Corp $70.8M 2.7M 3.0% ▲ 7.8%
Geode Capital Management, LLC $62.2M 2.3M 2.6% ▲ 8.8%
Morgan Stanley $60.5M 2.3M 2.5% ▲ 26.3%
Woodline Partners LP $60.2M 2.3M 2.5% ▲ 362.1%
Frontier Capital Management Co LLC $55.8M 2.1M 2.3% ▲ 90.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Baldwin Insurance Group, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $1M 2 trades by 1 insider, last 12 months Insider sales History → $13.3M 12 trades by 3 insiders · 0% under pre-set plans
Net ▼ $12.2M net selling
Insider Date Trade Shares Price Value
Cohen Seth Bala General Counsel May 14, 2026 Sell 15,000 $20.01 $300,150
Krystyn Elizabeth 10% owner May 7, 2026 Sell 31,740 $21.18 $672,253
Krystyn Elizabeth 10% owner May 7, 2026 Sell 98,278 $21.20 $2.1M
Krystyn Elizabeth 10% owner May 6, 2026 Sell 18,260 $21.20 $387,112
Krystyn Elizabeth 10% owner May 6, 2026 Sell 53,722 $21.19 $1.1M
Krystyn Elizabeth 10% owner March 6, 2026 Sell 29,431 $21.25 $625,409
Krystyn Elizabeth 10% owner March 6, 2026 Sell 90,556 $21.25 $1.9M
Sparks Paul Eugene Director March 3, 2026 Buy 15,200 $22.10 $335,920
Sparks Paul Eugene Director March 2, 2026 Buy 29,000 $22.96 $665,840
Roche James Morgan See Remarks December 15, 2025 Sell 73,977 $23.98 $1.8M
Roche James Morgan See Remarks December 15, 2025 Sell 6,023 $24.70 $148,768
Roche James Morgan See Remarks December 12, 2025 Sell 100,000 $24.20 $2.4M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 7 trades and filings

No trades in Baldwin Insurance Group, Inc. disclosed in the last 12 months; 7 earlier trades on record.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (full), $1,001 - $15,000, traded October 3, 2025, filed November 18, 2025
  • Josh Gottheimer(D-NJ 5):Sale (full), $1,001 - $15,000, traded September 23, 2025, filed October 15, 2025
  • Scott Franklin(R-FL 18):Sale (partial), $500,001 - $1,000,000, traded April 10, 2025, filed April 17, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 25, 2027 estimated from the company's past filing pattern, not announced

  • October 27, 2026
  • July 30, 2026
  • May 4, 2026
  • February 26, 2026
  • November 4, 2025
  • August 5, 2025

Recent SEC filings

Data status

When each part of this page on Baldwin Insurance Group, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Baldwin Insurance Group, Inc. in brief

What does Baldwin Insurance Group, Inc. do?
Baldwin Insurance Group, Inc. is a US-listed company in the insurance brokers industry. Its financial year ends in December.
What is Baldwin Insurance Group, Inc.'s stock ticker?
Baldwin Insurance Group, Inc. trades under the ticker BWIN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Baldwin Insurance Group, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Baldwin Insurance Group, Inc. reported revenue of $1.7B, 18.9% higher than a year earlier, according to its SEC filings.
What is Baldwin Insurance Group, Inc.'s free cash flow?
Baldwin Insurance Group, Inc.'s free-cash-flow margin is 2.5% of revenue over the trailing twelve months.
Who are Baldwin Insurance Group, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Blackrock, Inc. and William Blair Investment Management, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Baldwin Insurance Group, Inc.'s market cap?
On November 2, 2026, Baldwin Insurance Group, Inc.'s market capitalisation was about $2.6B and net debt of $2B. Market figures come from third-party market data and may be delayed.
Who are Baldwin Insurance Group, Inc.'s competitors?
In our Insurance Brokers peer group, the companies closest to Baldwin Insurance Group, Inc. are Selectquote, Inc., Hagerty, Inc., Crawford & Co, Ryan Specialty Holdings, Inc. and Erie Indemnity. The side-by-side comparison below sets their revenue, margins and growth against Baldwin Insurance Group, Inc.'s.
Are insiders buying or selling Baldwin Insurance Group, Inc. stock?
Over the last 12 months, Baldwin Insurance Group, Inc.'s directors and officers reported 2 open-market purchases and 12 sales on Form 4. The insider trading page charts every trade.
When is Baldwin Insurance Group, Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Baldwin Insurance Group, Inc. announces its own schedule.