SEC Form SC 13G filed by TWFG Inc.

11/12/24 10:34:16 AM ET

Specialty Insurers

Finance

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SC 13G 1 filing.txt SCHEDULE 13G Amendment No.0 TWFG INC CLASS A COMMON STOCK Cusip #87318A101 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) Cusip #87318A101 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 1,288,416 Item 6: 0 Item 7: 1,288,416 Item 8: 0 Item 9: 1,288,416 Item 11: 8.698% Item 12: HC Cusip #87318A101 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 1,288,416 Item 8: 0 Item 9: 1,288,416 Item 11: 8.698% Item 12: IN Item 1(a). Name of Issuer: TWFG INC Item 1(b). Address of Issuer's Principal Executive Offices: 1201 LAKE WOODLANDS DRIVE, SUITE 4020 THE WOODLANDS, TX 77380 US Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: CLASS A COMMON STOCK Item 2(e). CUSIP Number: 87318A101 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 1,288,416 (b) Percent of Class: 8.698% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 1,288,416 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the CLASS A COMMON STOCK of TWFG INC. No one other person's interest in the CLASS A COMMON STOCK of TWFG INC is more than five percent of the total outstanding CLASS A COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. November 8, 2024 Date /s/ Stephanie J. Brown Signature Stephanie J. Brown Duly authorized under Power of Attorney effective as of January 3, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries* * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 10, 2023, accession number: 0000315066-23-000003. Exhibit A Pursuant to the instructions in Item 7 of Schedule 13G, the following table lists the identity and Item 3 classification, if applicable, of each relevant entity that beneficially owns shares of the security class being reported on this Schedule 13G. Entity ITEM 3 Classification FIAM LLC IA Fidelity Institutional Asset Management Trust Company BK Fidelity Management & Research Company LLC IA Abigail P. Johnson is a Director, the Chairman and the Chief Executive Officer of FMR LLC. Members of the Johnson family, including Abigail P. Johnson, are the predominant owners, directly or through trusts, of Series B voting common shares of FMR LLC, representing 49% of the voting power of FMR LLC. The Johnson family group and all other Series B shareholders have entered into a shareholders' voting agreement under which all Series B voting common shares will be voted in accordance with the majority vote of Series B voting common shares. Accordingly, through their ownership of voting common shares and the execution of the shareholders' voting agreement, members of the Johnson family may be deemed, under the Investment Company Act of 1940, to form a controlling group with respect to FMR LLC. This filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by FMR LLC, certain of its subsidiaries and affiliates, and other companies (collectively, the "FMR Reporters"). This filing does not reflect securities, if any, beneficially owned by certain other companies whose beneficial ownership of securities is disaggregated from that of the FMR Reporters in accordance with Securities and Exchange Commission Release No. 34-39538 (January 12, 1998). RULE 13d-1(k)(1) AGREEMENT The undersigned persons, on November 8, 2024, agree and consent to the joint filing on their behalf of this Schedule 13G in connection with their beneficial ownership of the CLASS A COMMON STOCK of TWFG INC at September 30, 2024. FMR LLC By /s/ Stephanie J. Brown Stephanie J. Brown Duly authorized under Power of Attorney effective as of January 3, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries* Abigail P. Johnson By /s/ Stephanie J. Brown Stephanie J. Brown Duly authorized under Power of Attorney effective as of January 26, 2023, by and on behalf of Abigail P. Johnson** * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 10, 2023, accession number: 0000315066-23-000003. ** This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 31, 2023, accession number: 0000315066-23-000038.

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Recent Analyst Ratings for

$TWFG

Date	Price Target	Rating	Analyst
1/3/2025	$30.00 → $33.00	Overweight → Neutral	Analyst
8/21/2024		Outperform	William Blair
8/12/2024	$30.00	Outperform	BMO Capital Markets
8/12/2024	$23.00	Equal-Weight	Morgan Stanley
8/12/2024	$27.00	Overweight	Piper Sandler
8/12/2024	$26.50	Overweight	JP Morgan
8/12/2024	$29.00	Outperform	RBC Capital Mkts
8/12/2024	$29.00	Buy	UBS

More analyst ratings

SEC Form SC 13G filed by TWFG Inc.

11/12/24 10:34:16 AM ET

$TWFG

Specialty Insurers

Finance

Get the next $TWFG alert in real time by email

Recent Analyst Ratings for

$TWFG

Date	Price Target	Rating	Analyst
1/3/2025	$30.00 → $33.00	Overweight → Neutral	Analyst
8/21/2024		Outperform	William Blair
8/12/2024	$30.00	Outperform	BMO Capital Markets
8/12/2024	$23.00	Equal-Weight	Morgan Stanley
8/12/2024	$27.00	Overweight	Piper Sandler
8/12/2024	$26.50	Overweight	JP Morgan
8/12/2024	$29.00	Outperform	RBC Capital Mkts
8/12/2024	$29.00	Buy	UBS

More analyst ratings

SEC Form SC 13G filed by TWFG Inc.

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$TWFG

SEC Form SC 13G filed by TWFG Inc.

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$TWFG
Insider Trading

Chief Creative & Marketing Off Bunch Charles Alexander covered exercise/tax liability with 6,187 shares, decreasing direct ownership by 14% to 38,012 units (SEC Form 4)

General Counsel and Secretary Benes Julie E. covered exercise/tax liability with 6,187 shares, decreasing direct ownership by 14% to 38,962 units (SEC Form 4)

Chief Financial Officer Zwinggi Janice E. covered exercise/tax liability with 7,338 shares, decreasing direct ownership by 12% to 53,363 units (SEC Form 4)

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Press Releases

TWFG, Inc. to Announce Third Quarter 2025 Financial Results on Wednesday, November 12, 2025

TWFG Announces Second Quarter 2025 Results

TWFG Insurance Accelerates Northeast Expansion with Acquisition of Angers & Litz Associates

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Analyst Ratings

TWFG, Inc. downgraded by Analyst with a new price target

William Blair initiated coverage on TWFG, Inc.

BMO Capital Markets initiated coverage on TWFG, Inc. with a new price target

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SEC Filings

Amendment: SEC Form SCHEDULE 13G/A filed by TWFG Inc.

SEC Form 10-Q filed by TWFG Inc.

Amendment: SEC Form SCHEDULE 13G/A filed by TWFG Inc.

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Insider Purchases

General Counsel and Secretary Benes Julie E. bought $31,854 worth of shares (950 units at $33.53), increasing direct ownership by 2% to 49,008 units (SEC Form 4)

Amendment: Chief Creative & Marketing Off Bunch Charles Alexander bought $2,448 worth of shares (144 units at $17.00) (SEC Form 4)

President and CEO Bunch Richard F. Iii was granted 150,587 shares, converted options into 342,262 shares, bought $3,450,592 worth of shares (202,976 units at $17.00) and was granted 33,893,810 units of Class C Common Stock, increasing direct ownership by 678,275% to 678,375 units (SEC Form 4)

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Leadership Updates

TWFG Inc. Appoints Eugene Padgett to Join Its Leadership Team as Chief Accounting Officer

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Financials

TWFG, Inc. to Announce Third Quarter 2025 Financial Results on Wednesday, November 12, 2025

TWFG Announces Second Quarter 2025 Results

TWFG Insurance to release its second quarter financial results on August 12th, 2025

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Large Ownership Changes