Skyward Specialty Insurance Group (NASDAQ:SKWD) Posts Earnings Results, Beats Estimates By $0.03 EPS

Skyward Specialty Insurance Group (NASDAQ:SKWD) posted its earnings results on Tuesday. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03, Zacks reports. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The firm had revenue of $304.40 million for the quarter, compared to analyst estimates of $295.56 million.

Skyward Specialty Insurance Group Stock Down 0.8 %

SKWD stock opened at $51.01 on Thursday. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 0.81 and a beta of 0.83. The business has a fifty day simple moving average of $47.37 and a 200-day simple moving average of $45.82. Skyward Specialty Insurance Group has a 52 week low of $33.27 and a 52 week high of $55.62.

Insider Activity at Skyward Specialty Insurance Group

In other news, EVP Sandip A. Kapadia sold 4,347 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.51, for a total value of $215,219.97. Following the transaction, the executive vice president now owns 12,508 shares of the company’s stock, valued at approximately $619,271.08. This trade represents a 25.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas N. Schmitt sold 546 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $46.85, for a total transaction of $25,580.10. Following the sale, the insider now directly owns 10,246 shares of the company’s stock, valued at approximately $480,025.10. This trade represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,318 shares of company stock worth $2,098,866. 8.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SKWD. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Piper Sandler cut their price target on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Barclays lifted their price objective on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Raymond James lifted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.25.

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.