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

Skyward Specialty Insurance Group (NASDAQ:SKWD) issued its quarterly earnings results on Monday. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.15, Briefing.com reports. Skyward Specialty Insurance Group had a return on equity of 15.98% and a net margin of 11.16%. The business had revenue of $279.94 million during the quarter, compared to the consensus estimate of $282.70 million. During the same quarter last year, the company earned $0.42 earnings per share.

Skyward Specialty Insurance Group Trading Down 1.8 %

Skyward Specialty Insurance Group stock opened at $37.88 on Wednesday. The firm has a market cap of $1.51 billion, a PE ratio of 13.93, a P/E/G ratio of 0.78 and a beta of 0.61. The stock’s 50 day simple moving average is $36.88 and its two-hundred day simple moving average is $35.79. Skyward Specialty Insurance Group has a 12 month low of $22.97 and a 12 month high of $41.11.

Insiders Place Their Bets

In other news, CEO Andrew S. Robinson sold 23,533 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $37.21, for a total value of $875,662.93. Following the completion of the sale, the chief executive officer now directly owns 83,154 shares in the company, valued at $3,094,160.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Corp Westaim sold 5,060,000 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $36.50, for a total value of $184,690,000.00. Following the completion of the transaction, the insider now directly owns 1,919,639 shares of the company’s stock, valued at approximately $70,066,823.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew S. Robinson sold 23,533 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $37.21, for a total transaction of $875,662.93. Following the completion of the sale, the chief executive officer now owns 83,154 shares of the company’s stock, valued at $3,094,160.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,095,277 shares of company stock worth $186,000,945. Company insiders own 8.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SKWD. Keefe, Bruyette & Woods lifted their target price on shares of Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Truist Financial boosted their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Oppenheimer assumed coverage on Skyward Specialty Insurance Group in a research note on Friday, July 12th. They issued a “market perform” rating for the company. Finally, JMP Securities boosted their price target on Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the company a “market outperform” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Skyward Specialty Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.13.

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.