TWFG resumed with an Outperform at RBC Capital

RBC Capital resumed coverage of TWFG (TWFG) with an Outperform rating and $33 price target as part of a broader research note launching coverage on P&C insurance carriers and brokers. Looking to 2026, the firm expects continued strong return on equity, ROE, and book value per share growth amongst carriers, though it also sees slowing top-lines limiting earnings growth, the analyst tells investors in a research note. Some earnings headwinds are emerging, with a softening P&C cycle, difficult catastrophe comps, and uncertain reserving driving RBC’s expectations for ROE compression and limited sector performance, the firm added. For the company, RBC is positive on TWFG’s compelling long-term growth outlook in the fragmented Personal Lines brokerage space and high quality management team.