Skyward Specialty Insurance Group (NASDAQ:SKWD) Issues Quarterly Earnings Results

Skyward Specialty Insurance Group (NASDAQ:SKWD) announced its quarterly earnings data on Tuesday. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03, Zacks reports. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%.

Skyward Specialty Insurance Group Stock Performance

SKWD stock traded up $0.80 during trading on Tuesday, hitting $51.42. 531,093 shares of the company’s stock traded hands, compared to its average volume of 384,374. The business has a fifty day simple moving average of $47.36 and a 200 day simple moving average of $45.68. Skyward Specialty Insurance Group has a 52 week low of $33.27 and a 52 week high of $55.62. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 0.81 and a beta of 0.83.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SKWD. TD Cowen began coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They set a “hold” rating and a $43.00 price target on the stock. Raymond James increased their target price on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Barclays increased their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.44.

Insider Activity

In other Skyward Specialty Insurance Group news, Director James Charles Hays sold 25,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the transaction, the director now owns 747,261 shares in the company, valued at $40,352,094. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew S. Robinson sold 6,010 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total transaction of $296,713.70. Following the completion of the sale, the chief executive officer now directly owns 77,144 shares in the company, valued at approximately $3,808,599.28. This represents a 7.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,318 shares of company stock worth $2,098,866. 8.01% of the stock is currently owned by corporate insiders.

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.