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

Skyward Specialty Insurance Group (NASDAQ:SKWD) posted its quarterly earnings results on Tuesday. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 earnings per share.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD stock traded up $0.15 during midday trading on Wednesday, reaching $44.90. 234,457 shares of the company traded hands, compared to its average volume of 359,410. Skyward Specialty Insurance Group has a 1-year low of $27.56 and a 1-year high of $48.40. The firm has a market cap of $1.80 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60. The firm’s 50 day simple moving average is $42.10 and its two-hundred day simple moving average is $38.57.

Insider Buying and Selling

In related news, Director Katharine Terry sold 1,653 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $36.87, for a total transaction of $60,946.11. Following the completion of the transaction, the director now directly owns 4,001 shares in the company, valued at $147,516.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SKWD. Jefferies Financial Group raised their price objective on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. William Blair began coverage on Skyward Specialty Insurance Group in a report on Monday, August 19th. They set an “outperform” rating on the stock. Barclays raised their price objective on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday. Oppenheimer assumed coverage on Skyward Specialty Insurance Group in a report on Friday, July 12th. They set a “market perform” rating on the stock. Finally, Piper Sandler raised their price target on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.89.

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.