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

Skyward Specialty Insurance Group (NASDAQ:SKWD) issued its quarterly earnings results on Tuesday. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 Up 1.6 %

Shares of NASDAQ SKWD traded up $0.80 during trading on Tuesday, reaching $51.42. 531,093 shares of the company traded hands, compared to its average volume of 384,374. The firm has a 50 day simple moving average of $47.36 and a 200-day simple moving average of $45.68. Skyward Specialty Insurance Group has a 52-week low of $33.27 and a 52-week high of $55.62. The stock has a market capitalization of $2.06 billion, a PE ratio of 15.68, a P/E/G ratio of 0.81 and a beta of 0.83.

Insider Activity

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 637 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $47.81, for a total value of $30,454.97. Following the completion of the sale, the insider now owns 10,792 shares of the company’s stock, valued at approximately $515,965.52. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sandip A. Kapadia sold 908 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $46.98, for a total value of $42,657.84. Following the transaction, the executive vice president now directly owns 10,371 shares in the company, valued at $487,229.58. The trade was a 8.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,318 shares of company stock valued at $2,098,866 over the last three months. Insiders own 8.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SKWD shares. TD Cowen initiated coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a “hold” rating and a $43.00 target price for the company. JMP Securities restated 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. Keefe, Bruyette & Woods lifted their price objective on Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Piper Sandler cut their target price on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Barclays raised their price target 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. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.