Skyward Specialty Insurance Group (NASDAQ:SKWD) Releases 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 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03, Zacks reports. The firm had revenue of $304.40 million during the quarter, compared to analyst estimates of $295.56 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%.

Skyward Specialty Insurance Group Price Performance

SKWD opened at $51.01 on Thursday. The firm has a fifty day moving average price of $47.37 and a 200 day moving average price of $45.82. Skyward Specialty Insurance Group has a 1 year low of $33.27 and a 1 year high of $55.62. The stock has a market cap of $2.05 billion, a P/E ratio of 15.55, a P/E/G ratio of 0.81 and a beta of 0.83.

Analysts Set New Price Targets

SKWD has been the subject of several recent analyst reports. Raymond James upped their price target on 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. Barclays lifted their target price on 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. JMP Securities restated a “market outperform” rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Keefe, Bruyette & Woods lifted 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 research note on Thursday, February 6th. Finally, TD Cowen started 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 target price on the stock. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.25.

Insider Activity

In related news, EVP Sandip A. Kapadia sold 4,347 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $49.51, for a total value of $215,219.97. Following the transaction, the executive vice president now directly owns 12,508 shares in the company, valued at approximately $619,271.08. This represents a 25.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas N. Schmitt sold 546 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $46.85, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold 40,318 shares of company stock worth $2,098,866 in the last quarter. Corporate insiders own 8.01% of the company’s stock.

About Skyward Specialty Insurance Group

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.