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

Skyward Specialty Insurance Group (NASDAQ:SKWD) posted its earnings results on Wednesday. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09, Briefing.com reports. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 16.81%. The company had revenue of $264.97 million for the quarter, compared to analysts’ expectations of $251.66 million. During the same quarter in the prior year, the company posted $0.42 earnings per share.

Skyward Specialty Insurance Group Stock Up 5.1 %

Skyward Specialty Insurance Group stock traded up $1.81 during trading on Friday, reaching $37.58. The stock had a trading volume of 437,313 shares, compared to its average volume of 299,778. Skyward Specialty Insurance Group has a 52-week low of $21.21 and a 52-week high of $38.64. The stock has a market cap of $1.50 billion, a PE ratio of 13.82 and a beta of 0.68. The business has a 50 day moving average price of $36.25 and a 200 day moving average price of $33.31.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SKWD. Keefe, Bruyette & Woods increased their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Piper Sandler lifted their price objective on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. JMP Securities increased their target price on Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the stock a “market outperform” rating in a research note on Thursday. BMO Capital Markets lifted their target price on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, February 26th. Finally, Truist Financial boosted their price target on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of “Buy” and an average target price of $40.56.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 12,109 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $35.56, for a total value of $430,596.04. Following the sale, the chief executive officer now directly owns 74,533 shares in the company, valued at $2,650,393.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Andrew S. Robinson sold 13,407 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $35.63, for a total value of $477,691.41. Following the completion of the transaction, the chief executive officer now owns 61,126 shares in the company, valued at approximately $2,177,919.38. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andrew S. Robinson sold 12,109 shares of Skyward Specialty Insurance Group stock in a transaction on Friday, March 8th. The stock was sold at an average price of $35.56, for a total transaction of $430,596.04. Following the sale, the chief executive officer now owns 74,533 shares in the company, valued at $2,650,393.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 98,890 shares of company stock valued at $3,533,839. 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.