Skyward Specialty Insurance Group (NASDAQ:SKWD) Issues Quarterly Earnings Results

Skyward Specialty Insurance Group (NASDAQ:SKWD) announced its earnings results on Tuesday. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06, 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 17.01% and a net margin of 12.24%. During the same period last year, the firm earned $0.65 EPS.

Skyward Specialty Insurance Group Trading Down 0.6 %

SKWD stock opened at $44.21 on Friday. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.83 and a beta of 0.60. The firm has a 50-day moving average of $42.31 and a two-hundred day moving average of $38.65. Skyward Specialty Insurance Group has a 12 month low of $27.56 and a 12 month high of $48.40.

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.

Analyst Ratings Changes

Several equities analysts have weighed in on SKWD shares. 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. Keefe, Bruyette & Woods upped their target price on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. JMP Securities lifted their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a report on Wednesday. Truist Financial reaffirmed a “buy” rating and set a $49.00 price target (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Finally, Oppenheimer began coverage on shares of Skyward Specialty Insurance Group in a research report on Friday, July 12th. They set a “market perform” rating on the stock. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $45.22.

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.