Skyward Specialty Insurance Group (NASDAQ:SKWD) Reaches New 1-Year High at $42.05

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $42.05 and last traded at $41.95, with a volume of 314217 shares. The stock had previously closed at $40.82.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SKWD shares. Oppenheimer started coverage on Skyward Specialty Insurance Group in a research note on Friday, July 12th. They set a “market perform” rating for the company. JMP Securities raised their price target on shares of Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods upped their price objective on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. William Blair assumed coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, August 19th. They set an “outperform” rating on the stock. Finally, Piper Sandler lifted their target price on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.78.

Skyward Specialty Insurance Group Trading Up 3.4 %

The company has a market capitalization of $1.69 billion, a P/E ratio of 15.01, a P/E/G ratio of 0.77 and a beta of 0.60. The company has a 50 day moving average price of $38.22 and a 200 day moving average price of $36.92.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.15. The company had revenue of $279.94 million during the quarter, compared to analysts’ expectations of $282.70 million. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. During the same period in the prior year, the company earned $0.42 EPS. As a group, sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 2.96 EPS for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $36.87, for a total value of $60,946.11. Following the completion of the transaction, the director now directly owns 4,001 shares of the company’s stock, valued at $147,516.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank lifted its holdings in shares of Skyward Specialty Insurance Group by 27.7% in the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after buying an additional 279 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in Skyward Specialty Insurance Group by 24.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock worth $111,000 after purchasing an additional 579 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Skyward Specialty Insurance Group in the 2nd quarter valued at $160,000. ProShare Advisors LLC purchased a new position in shares of Skyward Specialty Insurance Group during the 1st quarter valued at $200,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Skyward Specialty Insurance Group by 67.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock worth $204,000 after buying an additional 2,270 shares in the last quarter. 94.83% of the stock is owned by 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.