Skyward Specialty Insurance Group (NASDAQ:SKWD) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) issued its earnings results on Thursday. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.12, Zacks reports. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The business had revenue of $328.53 million for the quarter, compared to the consensus estimate of $310.94 million. During the same quarter last year, the firm posted $0.75 EPS.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD stock traded up $5.06 during trading hours on Friday, hitting $58.63. 1,014,976 shares of the company were exchanged, compared to its average volume of 383,431. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 0.81 and a beta of 0.63. Skyward Specialty Insurance Group has a one year low of $33.42 and a one year high of $58.70. The business's 50-day simple moving average is $51.97 and its two-hundred day simple moving average is $49.64.

Insider Buying and Selling at Skyward Specialty Insurance Group

In related news, insider Thomas N. Schmitt sold 6,300 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the completion of the sale, the insider now owns 3,946 shares of the company's stock, valued at $204,876.32. This represents a 61.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gena L. Ashe sold 1,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.62, for a total transaction of $50,620.00. Following the completion of the transaction, the director now directly owns 734 shares in the company, valued at $37,155.08. This represents a 57.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,132 shares of company stock worth $620,476 over the last quarter. 8.01% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on SKWD. Jefferies Financial Group cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $62.00 to $59.00 in a research note on Friday, April 11th. Barclays boosted their price target on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods lowered their price objective on shares of Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Wolfe Research restated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Finally, JMP Securities lifted their price target on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.63.

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.

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