TWFG (NASDAQ:TWFG) Stock Falls 4.9% - Here's Why

Key Points

• TWFG shares fell 4.9% in mid-day trading to about $27.62, with trading volume down 92% from the average session.
• Despite the decline, analysts remain broadly positive: TWFG has a “Moderate Buy” consensus rating and an average price target of $29.29, with recent upgrades from Morgan Stanley, Zacks Research and others.
• TWFG’s latest quarterly results beat expectations, reporting $0.38 in EPS versus the $0.26 estimate and $87.51 million in revenue versus the $77.34 million consensus.

TWFG, Inc. (NASDAQ:TWFG - Get Free Report) shares dropped 4.9% during mid-day trading on Tuesday. The company traded as low as $27.50 and last traded at $27.6150. 16,348 shares were traded during trading, a decline of 92% from the average session volume of 202,489 shares. The stock had previously closed at $29.03.

Analyst Ratings Changes

Several equities analysts have recently commented on TWFG shares. Piper Sandler raised their price target on TWFG from $22.00 to $29.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Morgan Stanley raised shares of TWFG from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $26.00 to $30.00 in a research note on Wednesday, August 19th. Zacks Research upgraded shares of TWFG from a "hold" rating to a "strong-buy" rating in a report on Monday, October 12th. Wall Street Zen upgraded shares of TWFG from a "hold" rating to a "buy" rating in a report on Saturday. Finally, UBS Group raised their target price on shares of TWFG from $30.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $29.29.

TWFG Trading Down 7.8%

The firm has a market cap of $1.45 billion, a P/E ratio of 45.35 and a beta of 0.28. The firm has a 50-day simple moving average of $26.70 and a 200-day simple moving average of $23.19.

TWFG (NASDAQ:TWFG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.12. The business had revenue of $87.51 million for the quarter, compared to the consensus estimate of $77.34 million. TWFG had a return on equity of 19.49% and a net margin of 2.90%. Research analysts predict that TWFG, Inc. will post 1.10 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TWFG

A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of TWFG by 20.1% in the first quarter. Bank of New York Mellon Corp now owns 14,691 shares of the company's stock worth $270,000 after acquiring an additional 2,459 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of TWFG during the second quarter worth $72,000. Blalock Williams LLC lifted its position in TWFG by 14.9% during the second quarter. Blalock Williams LLC now owns 22,911 shares of the company's stock valued at $551,000 after purchasing an additional 2,978 shares during the period. Bank of America Corp DE lifted its position in TWFG by 26.7% during the first quarter. Bank of America Corp DE now owns 54,111 shares of the company's stock valued at $995,000 after purchasing an additional 11,415 shares during the period. Finally, Symphony Financial Ltd. Co. boosted its holdings in TWFG by 153.7% in the second quarter. Symphony Financial Ltd. Co. now owns 39,089 shares of the company's stock valued at $942,000 after purchasing an additional 23,682 shares during the last quarter.

TWFG Company Profile

TWFG, Inc NASDAQ: TWFG is an independent insurance distribution company that connects individuals and businesses with insurance products from a range of carriers. Through its agency network, the company provides access to personal and commercial property and casualty coverage, as well as life, health and other insurance solutions.

The company serves customers across the United States through a combination of retail insurance agencies and wholesale distribution operations. Its services include insurance placement, consultation and support, helping clients evaluate coverage options and manage their insurance needs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.