TWFG (NASDAQ:TWFG) Hits New 52-Week High After Better-Than-Expected Earnings

TWFG, Inc. (NASDAQ:TWFG) shares reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $31.42 and last traded at $30.6950, with a volume of 130,398 shares. The stock had previously closed at $29.58.

The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.02. The firm had revenue of $79.92 million for the quarter, compared to analyst estimates of $79.48 million. TWFG had a return on equity of 19.49% and a net margin of 2.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TWFG shares. Wall Street Zen cut shares of TWFG from a “buy” rating to a “hold” rating in a research note on Sunday. Morgan Stanley raised shares of TWFG from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $26.00 to $30.00 in a research report on Wednesday, August 19th. Piper Sandler increased 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. Royal Bank Of Canada lifted their price target on shares of TWFG from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of TWFG from $26.00 to $29.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.29.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TWFG. Giverny Capital Inc. raised its stake in shares of TWFG by 18.2% in the 2nd quarter. Giverny Capital Inc. now owns 652,452 shares of the company’s stock valued at $15,691,000 after acquiring an additional 100,345 shares in the last quarter. Ascent Group LLC raised its position in shares of TWFG by 0.8% during the third quarter. Ascent Group LLC now owns 214,110 shares of the company’s stock valued at $5,141,000 after buying an additional 1,800 shares during the last quarter. Renaissance Technologies LLC grew its position in TWFG by 201.9% during the first quarter. Renaissance Technologies LLC now owns 118,327 shares of the company’s stock worth $2,176,000 after buying an additional 79,127 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in TWFG during the first quarter valued at about $1,243,000. Finally, Bank of America Corp DE lifted its position in shares of TWFG by 26.7% in the 1st quarter. Bank of America Corp DE now owns 54,111 shares of the company’s stock worth $995,000 after acquiring an additional 11,415 shares during the period.

TWFG Trading Up 3.0%

The company has a fifty day moving average price of $26.68 and a two-hundred day moving average price of $23.22. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 51.82 and a beta of 0.20.

About TWFG

TWFG, Inc (NASDAQ: TWFG) is an independent insurance distribution company that connects individuals and businesses with insurance products from a range of carriers. Through its agency network, the company provides access to personal and commercial property and casualty coverage, as well as life, health and other insurance solutions.

The company serves customers across the United States through a combination of retail insurance agencies and wholesale distribution operations. Its services include insurance placement, consultation and support, helping clients evaluate coverage options and manage their insurance needs.