TWFG (NASDAQ:TWFG) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

TWFG (NASDAQ:TWFG) announced its quarterly earnings data on Wednesday. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.12, FiscalAI reports. The company had revenue of $87.51 million during the quarter, compared to analysts’ expectations of $77.34 million. TWFG had a net margin of 3.04% and a return on equity of 15.96%.

TWFG Trading Up 2.5%

Shares of TWFG stock traded up $0.69 during mid-day trading on Thursday, reaching $28.51. The company’s stock had a trading volume of 161,954 shares, compared to its average volume of 221,590. The company has a quick ratio of 94.71, a current ratio of 94.71 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.54 billion, a PE ratio of 52.79 and a beta of 0.16. The company’s 50 day simple moving average is $23.81 and its 200-day simple moving average is $21.45. TWFG has a 12-month low of $16.56 and a 12-month high of $30.47.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TWFG. UBS Group lifted their target price on TWFG from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Morgan Stanley upped their price target on TWFG from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Wall Street Zen upgraded TWFG from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Royal Bank Of Canada lifted their price objective on TWFG from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Finally, Truist Financial set a $23.00 target price on TWFG in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.86.

Insiders Place Their Bets

In other TWFG news, Director Michael Doak purchased 7,865 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of $19.45 per share, with a total value of $152,974.25. Following the transaction, the director owned 765,587 shares in the company, valued at approximately $14,890,667.15. This trade represents a 1.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have acquired 160,852 shares of company stock worth $3,034,663. 68.44% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC purchased a new stake in shares of TWFG in the fourth quarter worth about $68,000. Quantbot Technologies LP lifted its position in TWFG by 52.5% during the 2nd quarter. Quantbot Technologies LP now owns 4,053 shares of the company’s stock worth $142,000 after acquiring an additional 1,395 shares in the last quarter. State of Tennessee Department of Treasury acquired a new position in TWFG during the 2nd quarter worth approximately $155,000. Russell Investments Group Ltd. purchased a new position in TWFG in the 3rd quarter worth approximately $142,000. Finally, State of Wyoming boosted its holdings in TWFG by 42.0% in the 2nd quarter. State of Wyoming now owns 5,188 shares of the company’s stock worth $182,000 after acquiring an additional 1,535 shares during the period.

About TWFG

TWFG Insurance Services, Inc operates as a property and casualty insurance distribution company that provides personal and commercial insurance solutions through a hybrid model of company-owned branches and franchised offices. The firm offers a broad spectrum of insurance products, including auto, homeowners, renters, umbrella, flood and specialty lines coverage, tailored to meet the needs of individuals, families and businesses. By partnering with multiple insurance carriers, TWFG delivers competitive pricing and customized policy options designed to help clients manage risk and protect their assets.

Founded in 1980 and headquartered in Odessa, Texas, TWFG has expanded its network to serve customers across numerous U.S.