TWFG (NASDAQ:TWFG) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

TWFG (NASDAQ:TWFG) issued its quarterly earnings results on Wednesday. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.12, FiscalAI reports. TWFG had a net margin of 2.90% and a return on equity of 19.06%. The business had revenue of $87.51 million for the quarter, compared to the consensus estimate of $77.34 million.

TWFG Stock Up 1.4%

Shares of TWFG stock traded up $0.40 on Friday, hitting $28.96. 15,665 shares of the stock were exchanged, compared to its average volume of 221,345. The company has a current ratio of 94.71, a quick ratio of 94.71 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.57 billion, a P/E ratio of 49.08 and a beta of 0.16. TWFG has a fifty-two week low of $16.56 and a fifty-two week high of $30.47. The business has a 50-day moving average of $24.00 and a 200 day moving average of $21.47.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of TWFG from $22.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Weiss Ratings upgraded TWFG from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 17th. Wall Street Zen raised TWFG from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Zacks Research upgraded TWFG from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Finally, Keefe, Bruyette & Woods upped their price target on TWFG from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, TWFG currently has a consensus rating of “Moderate Buy” and an average price target of $27.43.

Insider Transactions at TWFG

In other news, Director Michael Doak purchased 7,865 shares of TWFG stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $19.45 per share, with a total value of $152,974.25. Following the transaction, the director directly owned 765,587 shares in the company, valued at $14,890,667.15. The trade was a 1.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders purchased 160,852 shares of company stock valued at $3,034,663. 68.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. 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 buying an additional 1,395 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of TWFG in the second quarter valued at about $1,219,000. Bank of America Corp DE increased its position in shares of TWFG by 287.2% in the second quarter. Bank of America Corp DE now owns 50,618 shares of the company’s stock valued at $1,772,000 after acquiring an additional 37,546 shares during the last quarter. Bamco Inc. NY increased its position in shares of TWFG by 3.9% in the second quarter. Bamco Inc. NY now owns 902,061 shares of the company’s stock valued at $31,572,000 after acquiring an additional 34,237 shares during the last quarter. Finally, Boothbay Fund Management LLC raised its holdings in TWFG by 225.5% during the second quarter. Boothbay Fund Management LLC now owns 41,334 shares of the company’s stock worth $1,447,000 after acquiring an additional 28,634 shares in the last quarter.

TWFG Company Profile

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.