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

Skyward Specialty Insurance Group (NASDAQ:SKWD) posted its quarterly earnings data on Tuesday. The company reported $0.80 earnings per share 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 Performance

Shares of SKWD stock opened at $51.42 on Wednesday. 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 cap of $2.06 billion, a PE ratio of 15.68, a PEG ratio of 0.81 and a beta of 0.83. The firm’s 50 day moving average price is $47.36 and its two-hundred day moving average price is $45.79.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SKWD shares. Barclays raised their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Piper Sandler lowered 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. TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 price target for the company. Finally, JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.44.

Insider Transactions at Skyward Specialty Insurance Group

In related news, CEO Andrew S. Robinson sold 6,010 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total value of $296,713.70. Following the sale, the chief executive officer now directly owns 77,144 shares of the company’s stock, valued at approximately $3,808,599.28. The trade was a 7.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James Charles Hays sold 25,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the director now directly owns 747,261 shares in the company, valued at $40,352,094. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,318 shares of company stock valued at $2,098,866 over the last three months. 8.01% of the stock is currently owned by corporate 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.