TWFG (TWFG)
Connects independent agencies with personal and commercial insurance through branches and an MGA.
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Distributes personal, commercial, life, and health insurance through Agency-in-a-Box, Corporate Branches, and TWFG MGA. Revenue comes from supporting independent agencies and producers rather than underwriting insurance risk.
Distributes personal and commercial insurance, as well as life and health lines, through Agency-in-a-Box, Corporate Branches, and TWFG MGA. The platform serves independent agencies, MGA agencies, and producers without underwriting insurance risk.
Agency operators receive contract options, technology, premium financing, education, marketing, virtual-assistant support, and M&A services. Founder Richard F. Bunch III remains Chairman and Chief Executive Officer, and corporate branches sit alongside the independent-branch network.
Operations span the United States and the Philippines, with admitted and non-admitted products available through the platform. The model depends on insurance-carrier relationships, productive agency and producer retention, and support costs that work for independent operators.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 19, 2026 | Morgan Stanley | Upgrade | ||
| Aug 10, 2026 | Morgan Stanley | Target | Target: $23 | Target: $26 |
| Aug 7, 2026 | RBC Capital | Reiterate | Rating: —Target: $30 | Target: $34 |
| Jul 15, 2026 | Piper Sandler | Reiterate | Rating: —Target: $22 | Target: $29 |
| Jul 13, 2026 | RBC Capital | Reiterate | Rating: —Target: $33 | Target: $30 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $73.7M · Total debt $7.6M · Total assets $358.4M · Shareholders' equity $46.2M
- Revenue
- $87.5M
- Operating income
- $17.6M
- Net income
- $2.4M
No dividends on record.
| Institutions | 16.82% | 9.11M shares | |
|---|---|---|---|
| 83 holders · as of Jun 30, 2026 | |||
| Insiders | 126.98% | 68.78M shares | |
| 13 holders · as of Jul 21, 2026 | |||
| Adds to | 143.80% | ||
54.17M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (54.17M in the company's Sep 22, 2026 report, 13.00M elsewhere); stakes use the report.
These groups come from separate filings that can overlap, so they add to 143.80%; nothing is left for Other.
This company has 3 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Richard F. III Bunch1,2Insiderdirector, 10 percent owner, officer: President and CEO | 62.84% | 34.57M COMPANY | filed Jul 21, 2026 |
Michelle Caroline BunchInsiderdirector | 62.20% | 329,563 A · 33.36M C | filed Jul 21, 2026 |
Bamco Inc /NY/Institution | 2.10% | 1.14M A | as of Jun 30, 2026 |
Capital International InvestorsInstitution | 1.77% | 958,490 | filed Feb 13, 2026 |
Franklin Resources IncInstitution | 1.44% | 781,912 A | as of Jun 30, 2026 |
- Richard F. III Bunch's transaction reports restate only vehicles that traded; the 2024 ownership statement (34.57M) less the 530.0K net shares sold since is used instead.
- Richard F. III Bunch reports a block also reported by Michelle Caroline Bunch; it is counted once, under Michelle Caroline Bunch.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 5, 2026 | Michael Doak | director | +7,865 | $19.45 |
| Jun 3, 2026 | Michael Doak | director | +22,994 | $18.62 |
| Jun 4, 2026 | Michael Doak | director | +11,000 | $19.09 |
| Jun 1, 2026 | Michael Doak | director | +16,500 | $19.33 |
| Jun 2, 2026 | Michael Doak | director | +16,500 | $19.25 |
- Brown & Brown
Retail and specialty distribution overlap across commercial and personal lines
- Goosehead Insurance
Independent personal-lines agency with corporate and franchise locations
- Arthur J. Gallagher
Insurance brokerage and risk-management overlap in commercial distribution
- Ryan Specialty
Wholesale brokerage and underwriting management overlap with TWFG MGA
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| TWFG | $24.75 | +2.10% | $334.3M | 69.8 | 22.3 | 1.2 | +51.2% |
| Brown & Brown | $62.44 | +0.03% | $21.52B | 19.0 | 13.5 | 3.1 | +34.2% |
| Goosehead Insurance | $45.76 | +0.02% | $1.93B | 37.7 | 20.5 | 4.8 | +20.6% |
| Arthur J. Gallagher | $230.45 | −0.02% | $60.79B | 39.2 | 16.4 | 3.9 | +22.8% |
| Ryan Specialty | $38.44 | 0.00% | $5.19B | 51.5 | 16.9 | 1.6 | +7.2% |
| Median | 38.5 | 16.6 | 3.5 | +21.7% |