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

Skyward Specialty Insurance Group (NASDAQ:SKWD) posted its quarterly earnings results on Thursday. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06, FiscalAI reports. The firm had revenue of $455.34 million for the quarter, compared to analysts’ expectations of $753.93 million. Skyward Specialty Insurance Group had a return on equity of 18.72% and a net margin of 10.84%.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock traded up $1.64 during mid-day trading on Thursday, reaching $63.86. The stock had a trading volume of 618,370 shares, compared to its average volume of 324,441. Skyward Specialty Insurance Group has a fifty-two week low of $40.60 and a fifty-two week high of $65.69. The stock’s 50-day simple moving average is $57.94 and its 200-day simple moving average is $51.92. The firm has a market capitalization of $2.84 billion, a PE ratio of 14.89 and a beta of 0.32.

Analysts Set New Price Targets

Several analysts have recently commented on SKWD shares. Weiss Ratings downgraded shares of Skyward Specialty Insurance Group from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 30th. Piper Sandler reiterated an “overweight” rating on shares of Skyward Specialty Insurance Group in a research report on Monday, August 24th. Citigroup reissued a “market outperform” rating on shares of Skyward Specialty Insurance Group in a research note on Monday, October 12th. Keefe, Bruyette & Woods raised their price target on shares of Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, TD Cowen raised their price target on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.11.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc is a specialty property and casualty insurance company headquartered in Houston, Texas. Through its insurance subsidiaries, the company provides customized coverage for businesses and organizations that may be underserved by the standard insurance market.

Its offerings include excess and surplus lines insurance, professional liability, healthcare liability, workers’ compensation, surety, commercial property and casualty coverage, specialty programs, and accident and health products.