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

Skyward Specialty Insurance Group (NASDAQ:SKWD) posted its quarterly earnings data on Tuesday. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03, Zacks reports. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%.

Skyward Specialty Insurance Group Stock Performance

NASDAQ SKWD traded up $0.80 during trading hours on Tuesday, hitting $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 cap of $2.06 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 0.81 and a beta of 0.83. The business has a 50 day moving average of $47.36 and a 200-day moving average of $45.68.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SKWD. TD Cowen began coverage on Skyward Specialty Insurance Group in a research report on Monday, January 13th. They set a “hold” rating and a $43.00 price objective on the stock. Raymond James upped their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. Barclays upped their price objective on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Piper Sandler lowered their target price on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.44.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, insider Thomas N. Schmitt sold 637 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $47.81, for a total transaction of $30,454.97. Following the completion of the sale, the insider now owns 10,792 shares in the company, valued at approximately $515,965.52. This represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Charles Hays sold 25,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the sale, the director now owns 747,261 shares of the company’s stock, valued at $40,352,094. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,318 shares of company stock worth $2,098,866 over the last 90 days. Corporate 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.