TWFG (NASDAQ:TWFG) Hits New 12-Month High Following Better-Than-Expected Earnings

TWFG, Inc. (NASDAQ:TWFG)’s share price reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $31.42 and last traded at $30.6950, with a volume of 130,398 shares traded. The stock had previously closed at $29.58.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TWFG shares. Wall Street Zen downgraded shares of TWFG from a “buy” rating to a “hold” rating in a research note on Sunday. UBS Group lifted their target price on TWFG from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Morgan Stanley raised TWFG from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $26.00 to $30.00 in a research note on Wednesday, August 19th. Royal Bank Of Canada increased their price target on TWFG from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Finally, Zacks Research raised TWFG from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, TWFG presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.29.

Institutional Investors Weigh In On TWFG

A number of institutional investors have recently made changes to their positions in TWFG. Giverny Capital Inc. increased its position in TWFG by 18.2% during the 2nd quarter. Giverny Capital Inc. now owns 652,452 shares of the company’s stock worth $15,691,000 after buying an additional 100,345 shares during the period. Ascent Group LLC grew its position in TWFG by 0.8% during the third quarter. Ascent Group LLC now owns 214,110 shares of the company’s stock worth $5,141,000 after buying an additional 1,800 shares in the last quarter. Renaissance Technologies LLC raised its stake in TWFG by 201.9% in the first quarter. Renaissance Technologies LLC now owns 118,327 shares of the company’s stock valued at $2,176,000 after purchasing an additional 79,127 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in TWFG during the first quarter worth about $1,243,000. Finally, Bank of America Corp DE raised 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 valued at $995,000 after buying an additional 11,415 shares in the last quarter.

TWFG Stock Up 3.0%

The firm has a market capitalization of $1.65 billion, a P/E ratio of 51.82 and a beta of 0.20. The business’s 50 day moving average is $26.68 and its 200-day moving average is $23.22.

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.