Skyward Specialty Insurance Group (NASDAQ:SKWD) Issues Earnings Results

Skyward Specialty Insurance Group (NASDAQ:SKWD) issued its quarterly earnings results on Tuesday. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07, Briefing.com reports. The company had revenue of $300.89 million for the quarter, compared to analysts’ expectations of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. During the same period last year, the firm earned $0.65 EPS.

Skyward Specialty Insurance Group Trading Down 0.2 %

Shares of SKWD stock traded down $0.08 on Wednesday, hitting $44.67. The stock had a trading volume of 220,922 shares, compared to its average volume of 359,410. Skyward Specialty Insurance Group has a twelve month low of $27.56 and a twelve month high of $48.40. The company has a fifty day moving average price of $42.10 and a two-hundred day moving average price of $38.57. The firm has a market cap of $1.79 billion, a P/E ratio of 15.07, a PEG ratio of 0.85 and a beta of 0.60.

Analysts Set New Price Targets

A number of brokerages have weighed in on SKWD. Oppenheimer initiated coverage on shares of Skyward Specialty Insurance Group in a report on Friday, July 12th. They issued a “market perform” rating for the company. Barclays upped their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday. William Blair started coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, August 19th. They issued an “outperform” rating on the stock. Truist Financial reissued a “buy” rating and set a $49.00 target price (up from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Finally, Piper Sandler lifted their price target on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.89.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $36.87, for a total transaction of $60,946.11. Following the sale, the director now directly owns 4,001 shares in the company, valued at approximately $147,516.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 8.01% of the stock is currently owned by company insiders.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc, an insurance holding company, underwrites commercial property and casualty insurance products in the United States. It offers general liability, excess liability, professional liability, commercial auto, group accident and health, property, surety, and workers' compensation insurance products.