Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $45.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective lifted by JMP Securities from $42.00 to $45.00 in a report released on Thursday morning, Benzinga reports. They currently have a market outperform rating on the stock.

A number of other brokerages have also recently weighed in on SKWD. Keefe, Bruyette & Woods boosted their price objective on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Truist Financial upped their price target on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Wolfe Research began coverage on shares of Skyward Specialty Insurance Group in a research report on Thursday, January 11th. They set an outperform rating and a $39.00 price objective on the stock. BMO Capital Markets upped their target price on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a market perform rating in a report on Monday, February 26th. Finally, Piper Sandler raised their price target on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an overweight rating in a report on Monday, April 1st. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $40.56.

Skyward Specialty Insurance Group Trading Up 5.1 %

NASDAQ:SKWD traded up $1.81 during midday trading on Thursday, hitting $37.58. 437,313 shares of the company were exchanged, compared to its average volume of 315,830. Skyward Specialty Insurance Group has a fifty-two week low of $21.21 and a fifty-two week high of $38.64. The company has a market capitalization of $1.50 billion, a PE ratio of 13.82 and a beta of 0.68. The company has a fifty day simple moving average of $36.20 and a 200 day simple moving average of $33.25.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. Skyward Specialty Insurance Group had a return on equity of 16.81% and a net margin of 11.16%. The business had revenue of $264.97 million for the quarter, compared to analysts’ expectations of $251.66 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, equities research analysts expect that Skyward Specialty Insurance Group will post 2.64 EPS for the current year.

Insider Activity at Skyward Specialty Insurance Group

In other news, CEO Andrew S. Robinson sold 12,109 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $35.56, for a total value of $430,596.04. Following the completion of the sale, the chief executive officer now directly owns 74,533 shares of the company’s stock, valued at approximately $2,650,393.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Andrew S. Robinson sold 12,109 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $35.56, for a total value of $430,596.04. Following the completion of the transaction, the chief executive officer now owns 74,533 shares in the company, valued at $2,650,393.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mark W. Haushill sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the transaction, the chief financial officer now directly owns 261,688 shares of the company’s stock, valued at $9,410,300.48. The disclosure for this sale can be found here. Insiders sold a total of 98,890 shares of company stock worth $3,533,839 over the last 90 days. Company insiders own 8.01% of the company’s stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank boosted its position in Skyward Specialty Insurance Group by 90.9% during the third quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock worth $63,000 after acquiring an additional 1,095 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Skyward Specialty Insurance Group by 54.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock worth $114,000 after purchasing an additional 1,186 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at $161,000. Adalta Capital Management LLC acquired a new position in Skyward Specialty Insurance Group in the third quarter valued at $137,000. Finally, New York State Common Retirement Fund lifted its position in Skyward Specialty Insurance Group by 82.2% during the third quarter. New York State Common Retirement Fund now owns 6,895 shares of the company’s stock worth $189,000 after buying an additional 3,110 shares during the period. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc, an insurance holding company, underwrites commercial property and casualty insurance products in the United States. It offers general liability, excess liability, professional liability, commercial auto, group accident and health, property, surety, and workers' compensation insurance products.