Baldwin Insurance Group (NASDAQ:BWIN) Releases Earnings Results

Baldwin Insurance Group (NASDAQ:BWIN) issued its earnings results on Monday. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01), FiscalAI reports. The business had revenue of $532.24 million for the quarter, compared to analyst estimates of $524.07 million. Baldwin Insurance Group had a positive return on equity of 12.60% and a negative net margin of 2.25%.

Here are the key takeaways from Baldwin Insurance Group’s conference call:

• Q1 results — Total revenue of $532 million, adjusted EBITDA of $137 million, and adjusted diluted EPS of $0.63, with reported organic revenue +2% (would be +5% excluding transitory items and +9% including the January partnerships).
• Partnership integration — CAC, Capstone, and Obie are running ahead of plan: CAC revenue grew 27% YoY with $38 million of new business (+39%), about $34 million of cost synergies realized (~80% of the $43M target), and >$10 million of active cross-sell opportunities.
• AI and Catalyst program — Baldwin is deploying a proprietary AI orchestration layer and enterprise AI (e.g., Anthropic Claude) with reported internal productivity gains up to 80% and examples of compressing product launches from months to days to drive operating leverage and margin expansion toward its 3B30 goals.
• Near-term headwinds — Q1 was pressured by Medicare-market disruption, a QBE commission transition, an IAS revenue-recognition procedural change, and a ~30% drop in E&S homeowners revenue (MIS down 5%), though management expects most of these impacts to normalize by end of Q2.
• Capital and tax items — Net leverage is ~4.3x after deploying ~$50M of buybacks (2.2M shares); Q1 saw a ~$145M deferred tax benefit offset by a ~$130M TRA liability (both excluded from adjusted metrics), and adjusted free cash flow was roughly flat with management expecting better conversion later in 2026.

Baldwin Insurance Group Price Performance

BWIN traded down $0.06 on Monday, reaching $21.97. The company had a trading volume of 1,645,074 shares, compared to its average volume of 1,637,291. The company has a fifty day moving average of $21.91 and a 200-day moving average of $23.26. The company has a market capitalization of $3.14 billion, a P/E ratio of -44.84, a PEG ratio of 0.85 and a beta of 1.23. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.54. Baldwin Insurance Group has a one year low of $15.88 and a one year high of $45.16.

Insider Transactions at Baldwin Insurance Group

In other Baldwin Insurance Group news, Director Paul Eugene Sparks purchased 29,000 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was bought at an average cost of $22.96 per share, with a total value of $665,840.00. Following the acquisition, the director owned 981,506 shares of the company’s stock, valued at $22,535,377.76. The trade was a 3.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Elizabeth Krystyn sold 119,987 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $21.25, for a total transaction of $2,549,723.75. The disclosure for this sale is available in the SEC filing. Corporate insiders own 18.51% of the company’s stock.

Institutional Trading of Baldwin Insurance Group

Hedge funds have recently bought and sold shares of the company. Mariner LLC lifted its stake in Baldwin Insurance Group by 76.3% during the fourth quarter. Mariner LLC now owns 32,736 shares of the company’s stock valued at $787,000 after buying an additional 14,168 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Baldwin Insurance Group during the fourth quarter valued at about $781,000. Orion Porfolio Solutions LLC lifted its stake in Baldwin Insurance Group by 4.1% during the third quarter. Orion Porfolio Solutions LLC now owns 23,369 shares of the company’s stock valued at $659,000 after buying an additional 914 shares in the last quarter. Advisory Services Network LLC lifted its stake in Baldwin Insurance Group by 9.7% during the second quarter. Advisory Services Network LLC now owns 14,379 shares of the company’s stock valued at $616,000 after buying an additional 1,277 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Baldwin Insurance Group during the fourth quarter valued at about $580,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Baldwin Insurance Group from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Zacks Research lowered shares of Baldwin Insurance Group from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. lowered their price target on shares of Baldwin Insurance Group from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Baldwin Insurance Group in a research report on Friday, March 27th. Finally, UBS Group lowered their price target on shares of Baldwin Insurance Group from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.13.

About Baldwin Insurance Group

Baldwin Insurance Group, Inc (NASDAQ: BWIN) is a specialty insurance and surety firm that underwrites contract bonds, commercial insurance policies and related risk-management services. Its core offerings include contract and commercial surety, which provide performance and payment guarantees to obligees in construction, service and public-sector projects. In addition, the company delivers complementary commercial lines coverages designed to mitigate liability, property and workers’ compensation exposures.

Through a network of regional agency offices primarily across the Midwestern United States, Baldwin Insurance Group serves contractors, developers, small and mid-sized businesses as well as municipal and public-sector clients.