Skyward Specialty Insurance Group (NASDAQ:SKWD) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Skyward Specialty Insurance Group (NASDAQ:SKWD) issued its quarterly earnings data on Tuesday. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06, Briefing.com reports. Skyward Specialty Insurance Group had a return on equity of 17.01% and a net margin of 12.24%. The firm had revenue of $300.89 million during the quarter, compared to analysts’ expectations of $292.43 million. During the same period in the prior year, the business posted $0.65 EPS.

Skyward Specialty Insurance Group Trading Down 0.6 %

Shares of NASDAQ SKWD opened at $44.21 on Friday. The stock has a market cap of $1.77 billion, a PE ratio of 13.48, a P/E/G ratio of 0.83 and a beta of 0.60. Skyward Specialty Insurance Group has a 12-month low of $27.56 and a 12-month high of $48.40. The company has a 50-day moving average of $42.31 and a 200 day moving average of $38.65.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their price target on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Barclays boosted their target price on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Keefe, Bruyette & Woods raised their price target on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. William Blair started coverage on shares of Skyward Specialty Insurance Group in a report on Monday, August 19th. They set an “outperform” rating on the stock. Finally, JMP Securities raised their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.22.

Insider Activity

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $36.87, for a total value of $60,946.11. Following the completion of the sale, the director now directly owns 4,001 shares of the company’s stock, valued at $147,516.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.