Sunita Parasuraman, a director of Baldwin Insurance Group, Inc. (BWIN), reported a non-derivative acquisition of 861 shares of Class A Common Stock on 10/01/2025. The reported transaction code is V and the reported price is $0, leaving the reporting person with 10,963 shares beneficially owned following the transaction. The filing was signed by an attorney-in-fact on 10/03/2025.
Ellyn Shook, a director of Baldwin Insurance Group, Inc. (BWIN), reported acquiring 861 Class A common shares on 10/01/2025. The transaction is reported as an acquisition with a reported price of $0, and following the transaction Ms. Shook beneficially owned 10,963 shares. The filing records no derivative transactions and was signed by Seth Cohen as attorney-in-fact on 10/03/2025. This Form 4 discloses a straightforward insider purchase/grant by a director and contains no other compensatory or derivative details.
Chris Thomas Sullivan, a director of Baldwin Insurance Group, Inc. (BWIN), reported an acquisition of 861 shares of Class A common stock on 10/01/2025 at a reported price of $0. After the transaction the reporting person beneficially owned 82,200 shares. The Form 4 was signed on behalf of Mr. Sullivan by an attorney-in-fact on 10/03/2025. The filing shows no derivative transactions and contains no additional remarks.
Baldwin Insurance Group (BWIN) director Myron K. Williams reported acquiring 861 shares of Class A common stock at $0 on October 1, 2025 (Transaction Code: A).
After this transaction, he beneficially owns 10,963 shares, held directly.
Baldwin Insurance Group, Inc. filed an 8-K disclosing the execution of Amendment No. 3 to its Amended and Restated Credit Agreement dated September 18, 2025. The amendment is among Baldwin Holdings, the guarantors, the several lenders party to the agreement, and JPMorgan Chase Bank, N.A. as administrative agent. The filing is signed by Bradford L. Hale, Chief Financial Officer. The document references an interactive data file embedded in the inline XBRL document.
Seth Bala Cohen, General Counsel of Baldwin Insurance Group, Inc. (BWIN), reported a sale of 2,775 shares of Class A common stock on 08/13/2025 at a reported price of $34 per share. After the transaction he beneficially owned 10,465 shares, reported as direct ownership. The Form 4 was signed by Mr. Cohen on 08/15/2025. No derivative transactions were reported and the filing indicates this was a single reporting person filing.
The Baldwin Insurance Group (ticker BWIN) filed a Form 144 reporting a proposed sale of 2,775 Class A common shares through Wells Fargo Clearing Services with an aggregate market value of $93,069.27. The form lists the approximate sale date as 08/13/2025 and identifies Nasdaq as the exchange. The filing shows total shares outstanding of 71,314,976 and records that the securities to be sold were acquired on 02/28/2025 via an RSA.
The notice also discloses a prior sale during the past three months: Seth Bala Cohen sold 4,496 shares06/03/2025 for $176,013.10. The form includes the standard signature representation that the seller is not aware of any undisclosed material adverse information and references trading-plan disclosures under Rule 10b5-1.
Capital Research Global Investors reports beneficial ownership of 4,513,250 shares of The Baldwin Insurance Group, Inc. (BWIN), equal to 6.4% of 70,641,158 shares outstanding. The filing states CRGI is a division of Capital Research and Management Company and affiliated investment management entities that collectively provide investment services under the name Capital Research Global Investors. CRGI reports sole voting and sole dispositive power over all 4,513,250 shares and discloses that some shares are held on behalf of SMALLCAP World Fund, Inc. The filing includes a certification that the securities were acquired and are held in the ordinary course of business and not to influence control of the issuer.
The Baldwin Insurance Group (Nasdaq: BWIN) Q2-25 10-Q highlights:
- Revenue: $378.8 M, +11.5% YoY; 1H-25 revenue $792.2 M, +10.0% YoY.
- Profitability: Operating income rose 70% to $27.9 M (7.4% margin). Net loss attributable to Baldwin narrowed to $3.2 M (-$0.05 EPS) vs. -$17.6 M (-$0.28 EPS) in Q2-24. 1H-25 net income attributable to Baldwin improved to $10.8 M (+168%).
- Cost profile: Compensation & benefits +11% to $195.5 M; outside commissions +7% to $73.6 M; other opex +21% to $56.1 M. Interest expense remained high at $31.3 M for the quarter.
- Cash flow: 1H-25 operating cash outflow of $80.7 M (vs. +$21.3 M prior year) driven by $85.1 M excess earn-out payments and higher working capital.
- Balance sheet (6/30/25): Cash $105.7 M (+17% YTD); Total assets $3.74 B. Debt up to $1.61 B (incl. $112 M revolver draw) after $935.8 M term-loan refinancing; contingent earn-out liabilities cut to $16.7 M from $145.6 M current.
- Equity: Stockholders’ equity attributable to Baldwin grew to $630.8 M (+8% YTD); 71.3 M Class A shares outstanding.
- Strategic activity: Closed acquisition of Bermuda-based MultiStrat Group for $24.6 M (incl. $8.8 M earn-out & $0.9 M equity), adding reinsurance underwriting capability.
Overall, Q2 showed solid top-line growth and significant earnings improvement, but profitability remains constrained by high interest costs and negative operating cash flow.