Skyward Specialty Insurance Group (NASDAQ:SKWD) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Skyward Specialty Insurance Group (NASDAQ:SKWD) announced its quarterly earnings results on Wednesday. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09, Briefing.com reports. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 14.31%. The firm had revenue of $264.97 million during the quarter, compared to analysts’ expectations of $251.66 million. During the same quarter in the prior year, the company earned $0.42 EPS.

Skyward Specialty Insurance Group Trading Up 1.2 %

SKWD stock traded up $0.41 during trading on Thursday, reaching $35.91. 398,001 shares of the stock were exchanged, compared to its average volume of 311,236. The business has a 50 day moving average price of $36.18 and a 200-day moving average price of $33.21. Skyward Specialty Insurance Group has a 1 year low of $21.21 and a 1 year high of $38.64. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 16.09 and a beta of 0.69.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SKWD. Truist Financial upped their price target on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. BMO Capital Markets increased their target price on shares of 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. Keefe, Bruyette & Woods increased their target price on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. JMP Securities increased their target price on shares of Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the company a “market outperform” rating in a research report on Thursday. Finally, Piper Sandler upped their price target on shares of 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. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $40.22.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 12,109 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $35.56, for a total transaction of $430,596.04. Following the completion of the sale, the chief executive officer now directly owns 74,533 shares in the company, valued at $2,650,393.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Mark W. Haushill sold 35,000 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $35.96, for a total value of $1,258,600.00. Following the completion of the transaction, the chief financial officer now owns 261,688 shares in the company, valued at $9,410,300.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew S. Robinson sold 12,109 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $35.56, for a total transaction of $430,596.04. Following the completion of the transaction, the chief executive officer now owns 74,533 shares of the company’s stock, valued at approximately $2,650,393.48. The disclosure for this sale can be found here. Insiders have sold 98,890 shares of company stock valued at $3,533,839 over the last ninety days. Company 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.