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

Skyward Specialty Insurance Group (NASDAQ:SKWD) posted its quarterly earnings results on Tuesday. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03, Zacks reports. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%.

Skyward Specialty Insurance Group Stock Performance

NASDAQ SKWD opened at $51.42 on Wednesday. The firm has a 50-day simple moving average of $47.36 and a 200 day simple moving average of $45.79. Skyward Specialty Insurance Group has a twelve month low of $33.27 and a twelve month high of $55.62. The stock has a market cap of $2.06 billion, a PE ratio of 15.68, a PEG ratio of 0.81 and a beta of 0.83.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 546 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $46.85, for a total transaction of $25,580.10. Following the completion of the transaction, the insider now owns 10,246 shares in the company, valued at $480,025.10. This trade represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Haushill sold 1,630 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $49.06, for a total transaction of $79,967.80. Following the transaction, the chief financial officer now owns 176,971 shares of the company’s stock, valued at approximately $8,682,197.26. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,318 shares of company stock worth $2,098,866. Company insiders own 8.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SKWD. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Raymond James upped their price target on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods upped their price target on shares of Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Barclays upped their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Finally, TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 price target on the stock. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.44.

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.