TWFG (NASDAQ:TWFG) Issues Earnings Results, Beats Expectations By $0.12 EPS

Key Points

• TWFG beat quarterly expectations: The insurance distributor reported earnings of $0.38 per share, $0.12 above consensus, while revenue reached $87.51 million versus the expected $77.34 million.
• Shares rose 1.6% to $27.82 after the results, giving TWFG a market capitalization of approximately $1.51 billion. The stock has traded between $16.56 and $31.07 over the past year.
• Analyst sentiment remains positive: TWFG has a “Moderate Buy” consensus rating and an average price target of $26.86, while UBS raised its target to $30 and insiders purchased 160,852 shares worth about $3.0 million during the last quarter.

TWFG (NASDAQ:TWFG - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.12, FiscalAI reports. The business had revenue of $87.51 million during the quarter, compared to analysts' expectations of $77.34 million. TWFG had a net margin of 3.04% and a return on equity of 15.96%.

TWFG Trading Up 1.6%

TWFG traded up $0.44 during midday trading on Wednesday, hitting $27.82. 322,120 shares of the company were exchanged, compared to its average volume of 222,189. The firm's 50 day moving average price is $23.62 and its 200-day moving average price is $21.44. TWFG has a 1-year low of $16.56 and a 1-year high of $31.07. The firm has a market capitalization of $1.51 billion, a P/E ratio of 51.52 and a beta of 0.16. The company has a quick ratio of 94.71, a current ratio of 94.71 and a debt-to-equity ratio of 0.01.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TWFG shares. Keefe, Bruyette & Woods raised their target price on TWFG from $23.00 to $26.00 and gave the company a "market perform" rating in a report on Wednesday, July 8th. Zacks Research raised TWFG from a "hold" rating to a "strong-buy" rating in a report on Monday, June 8th. Truist Financial set a $23.00 price objective on TWFG in a research report on Monday, June 8th. Morgan Stanley raised their price objective on TWFG from $21.00 to $23.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Finally, UBS Group boosted their target price on TWFG from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, TWFG currently has an average rating of "Moderate Buy" and an average price target of $26.86.

Insider Activity at TWFG

In related news, Director Michael Doak bought 24,880 shares of TWFG stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average cost of $18.62 per share, for a total transaction of $463,265.60. Following the completion of the acquisition, the director directly owned 668,398 shares of the company's stock, valued at approximately $12,445,570.76. The trade was a 3.87% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders purchased 160,852 shares of company stock valued at $3,034,663 over the last quarter. 68.44% of the stock is owned by insiders.

Institutional Investors Weigh In On TWFG

A number of institutional investors have recently modified their holdings of TWFG. T. Rowe Price Investment Management Inc. raised its stake in TWFG by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,719 shares of the company's stock worth $81,929,000 after buying an additional 26,742 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in TWFG during the 4th quarter worth about $337,000. Balyasny Asset Management L.P. acquired a new stake in TWFG during the 4th quarter worth about $285,000. Schonfeld Strategic Advisors LLC raised its position in shares of TWFG by 92.7% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 26,848 shares of the company's stock worth $772,000 after acquiring an additional 12,912 shares in the last quarter. Finally, Gillson Capital LP lifted its stake in shares of TWFG by 14.6% in the 4th quarter. Gillson Capital LP now owns 169,065 shares of the company's stock valued at $4,864,000 after purchasing an additional 21,565 shares during the period.

About TWFG

TWFG Insurance Services, Inc operates as a property and casualty insurance distribution company that provides personal and commercial insurance solutions through a hybrid model of company-owned branches and franchised offices. The firm offers a broad spectrum of insurance products, including auto, homeowners, renters, umbrella, flood and specialty lines coverage, tailored to meet the needs of individuals, families and businesses. By partnering with multiple insurance carriers, TWFG delivers competitive pricing and customized policy options designed to help clients manage risk and protect their assets.

Founded in 1980 and headquartered in Odessa, Texas, TWFG has expanded its network to serve customers across numerous U.S.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source