Skyward Specialty Insurance Group (NASDAQ:SKWD) Given New $45.00 Price Target at JMP Securities

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

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

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $37.58 on Thursday. The company has a fifty day moving average of $36.25 and a two-hundred day moving average of $33.37. Skyward Specialty Insurance Group has a fifty-two week low of $21.21 and a fifty-two week high of $38.64. The stock has a market capitalization of $1.50 billion, a PE ratio of 13.82 and a beta of 0.68.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. The company had revenue of $264.97 million for the quarter, compared to analysts’ expectations of $251.66 million. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 16.81%. During the same quarter in the previous year, the company posted $0.42 EPS. Research analysts forecast that Skyward Specialty Insurance Group will post 2.7 earnings per share for the current year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $35.96, for a total value of $1,258,600.00. Following the sale, the chief financial officer now directly owns 261,688 shares of the company’s stock, valued at approximately $9,410,300.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of Skyward Specialty Insurance Group stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 261,688 shares of the company’s stock, valued at approximately $9,410,300.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew S. Robinson sold 13,407 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $35.63, for a total value of $477,691.41. Following the transaction, the chief executive officer now directly owns 61,126 shares of the company’s stock, valued at $2,177,919.38. The disclosure for this sale can be found here. Insiders sold 98,890 shares of company stock worth $3,533,839 over the last 90 days. 8.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in Skyward Specialty Insurance Group by 208.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 91,346 shares of the company’s stock worth $2,499,000 after acquiring an additional 61,772 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at about $306,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at about $3,296,000. Jennison Associates LLC grew its stake in Skyward Specialty Insurance Group by 35.2% during the 3rd quarter. Jennison Associates LLC now owns 1,356,301 shares of the company’s stock worth $37,108,000 after buying an additional 352,971 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Skyward Specialty Insurance Group during the third quarter worth approximately $957,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.