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

Skyward Specialty Insurance Group (NASDAQ:SKWD) posted its quarterly earnings data 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. The company had revenue of $264.97 million during the quarter, compared to analysts’ expectations of $251.66 million. Skyward Specialty Insurance Group had a return on equity of 14.31% and a net margin of 9.56%. During the same period in the prior year, the firm earned $0.42 earnings per share.

Skyward Specialty Insurance Group Trading Up 1.2 %

NASDAQ:SKWD traded up $0.41 on Thursday, hitting $35.91. The company’s stock had a trading volume of 398,001 shares, compared to its average volume of 311,236. The stock has a fifty day moving average of $36.18 and a two-hundred day moving average of $33.21. The firm has a market capitalization of $1.44 billion, a P/E ratio of 16.09 and a beta of 0.69. Skyward Specialty Insurance Group has a one year low of $21.21 and a one year high of $38.64.

Analyst Ratings Changes

Several research firms have recently weighed in on SKWD. JMP Securities upped their price objective on Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the stock a “market outperform” rating in a research report on Thursday. Truist Financial upped their price objective on 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 upped their price objective on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. Keefe, Bruyette & Woods upped their target price on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Piper Sandler upped their target price on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. One equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $40.22.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, CFO Mark W. Haushill sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $35.96, for a total value of $1,258,600.00. Following the transaction, the chief financial officer now owns 261,688 shares of the company’s stock, valued at $9,410,300.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 25,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $35.58, for a total value of $889,500.00. Following the sale, the chief financial officer now owns 236,688 shares of the company’s stock, valued at approximately $8,421,359.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark W. Haushill sold 35,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 261,688 shares in the company, valued at approximately $9,410,300.48. The disclosure for this sale can be found here. Insiders have sold 98,890 shares of company stock worth $3,533,839 over the last 90 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.