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

Skyward Specialty Insurance Group (NASDAQ:SKWD) posted 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 Price Performance

Skyward Specialty Insurance Group stock traded up $0.80 during mid-day trading on Tuesday, reaching $51.42. The company had a trading volume of 531,093 shares, compared to its average volume of 384,374. Skyward Specialty Insurance Group has a 1 year low of $33.27 and a 1 year high of $55.62. The company has a market capitalization of $2.06 billion, a P/E ratio of 15.68, a P/E/G ratio of 0.81 and a beta of 0.83. The stock’s 50-day simple moving average is $47.36 and its 200-day simple moving average is $45.68.

Analysts Set New Price Targets

Several research analysts recently issued reports on SKWD shares. Keefe, Bruyette & Woods increased their price target 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. Raymond James increased their price target on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 5th. Piper Sandler cut 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 started coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They set a “hold” rating and a $43.00 price target for the company. Finally, JMP Securities reissued 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. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and a consensus price target of $51.44.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, EVP Sandip A. Kapadia sold 908 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 10,371 shares in the company, valued at $487,229.58. This represents a 8.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas N. Schmitt sold 546 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.85, for a total transaction of $25,580.10. Following the completion of the sale, the insider now owns 10,246 shares in the company, valued at $480,025.10. This represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,318 shares of company stock valued at $2,098,866. Corporate insiders own 8.01% of the company’s stock.

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.