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

Skyward Specialty Insurance Group (NASDAQ:SKWD) issued its quarterly earnings data on Tuesday. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.07, Briefing.com reports. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. The company had revenue of $300.89 million for the quarter, compared to the consensus estimate of $292.43 million. During the same period last year, the firm posted $0.65 EPS.

Skyward Specialty Insurance Group Stock Performance

SKWD stock traded down $0.13 during trading on Wednesday, reaching $44.62. 210,097 shares of the company were exchanged, compared to its average volume of 359,359. The company has a market cap of $1.79 billion, a P/E ratio of 15.07, a PEG ratio of 0.85 and a beta of 0.60. Skyward Specialty Insurance Group has a 52-week low of $27.56 and a 52-week high of $48.40. The stock’s 50 day moving average price is $42.10 and its 200 day moving average price is $38.57.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, August 9th. The shares were 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 owns 4,001 shares in the company, valued at approximately $147,516.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 8.01% of the stock is owned by insiders.

Analysts Set New Price Targets

SKWD has been the topic of several analyst reports. Oppenheimer initiated coverage on shares of Skyward Specialty Insurance Group in a report on Friday, July 12th. They issued a “market perform” rating on the stock. Piper Sandler lifted their target price on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Truist Financial reaffirmed a “buy” rating and issued a $49.00 target price (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. Jefferies Financial Group lifted their target price on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 target price on shares of Skyward Specialty Insurance Group in a report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.