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

Skyward Specialty Insurance Group (NASDAQ:SKWD) posted its quarterly earnings results 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 business had revenue of $264.97 million during the quarter, compared to the consensus estimate 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 company posted $0.42 EPS.

Skyward Specialty Insurance Group Trading Up 3.7 %

Shares of SKWD stock traded up $1.30 during trading hours on Thursday, reaching $36.80. 331,522 shares of the company’s stock were exchanged, compared to its average volume of 310,717. The stock’s fifty day moving average price is $36.18 and its two-hundred day moving average price is $33.21. The stock has a market cap of $1.47 billion, a PE ratio of 16.09 and a beta of 0.69. Skyward Specialty Insurance Group has a 1 year low of $21.21 and a 1 year high of $38.64.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 261,688 shares of the company’s stock, valued at $9,410,300.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Andrew S. Robinson sold 13,374 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total value of $477,451.80. Following the completion of the transaction, the chief executive officer now directly owns 96,883 shares of the company’s stock, valued at approximately $3,458,723.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Haushill sold 35,000 shares of the 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 transaction, the chief financial officer now directly owns 261,688 shares of the company’s stock, valued at $9,410,300.48. The disclosure for this sale can be found here. Insiders have sold a total of 98,890 shares of company stock worth $3,533,839 over the last quarter. Insiders own 8.01% of the company’s stock.

Analysts Set New Price Targets

SKWD has been the subject of a number of recent research reports. Piper Sandler raised their target price on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Keefe, Bruyette & Woods lifted their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Wolfe Research began coverage on shares of Skyward Specialty Insurance Group in a research note on Thursday, January 11th. They set an “outperform” rating and a $39.00 price objective for the company. Truist Financial lifted their price objective on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, BMO Capital Markets lifted their target price 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. One research analyst has 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. Based on data from MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of “Buy” and an average target price of $40.22.

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.