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

Skyward Specialty Insurance Group (NASDAQ:SKWD) posted its earnings results on Tuesday. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.06, Briefing.com reports. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 17.01%. The business had revenue of $300.89 million for the quarter, compared to analyst estimates of $292.43 million. During the same quarter in the previous year, the business posted $0.65 EPS.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD stock opened at $44.21 on Friday. The firm has a market cap of $1.77 billion, a P/E ratio of 13.48, a P/E/G ratio of 0.83 and a beta of 0.60. The firm has a fifty day moving average of $42.31 and a two-hundred day moving average of $38.65. Skyward Specialty Insurance Group has a 1-year low of $27.56 and a 1-year high of $48.40.

Insider Transactions at Skyward Specialty Insurance Group

In related news, Director Katharine Terry sold 1,653 shares of the business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SKWD. Barclays boosted their price objective on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday. JMP Securities boosted their price target on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Truist Financial reaffirmed a “buy” rating and issued a $49.00 price objective (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. Piper Sandler boosted their target price on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group raised their price target 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. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and a consensus price target 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.