Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $62.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target lifted by equities research analysts at Keefe, Bruyette & Woods from $60.00 to $62.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 20.76% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price objective on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 price target for the company. Truist Financial increased their price objective on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler lowered their price objective on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Raymond James increased their target price on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Skyward Specialty Insurance Group Stock Down 1.7 %

Shares of SKWD traded down $0.87 during mid-day trading on Friday, hitting $51.34. 136,548 shares of the company traded hands, compared to its average volume of 387,829. Skyward Specialty Insurance Group has a 1-year low of $33.27 and a 1-year high of $55.62. The company has a market capitalization of $2.06 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 0.81 and a beta of 0.83. The business has a 50 day moving average of $47.42 and a 200 day moving average of $45.87.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The firm had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $295.56 million. As a group, research analysts expect that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 1,630 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.06, for a total value of $79,967.80. Following the completion of the transaction, the chief financial officer now owns 176,971 shares in the company, valued at $8,682,197.26. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Thomas N. Schmitt sold 546 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $46.85, for a total transaction of $25,580.10. Following the completion of the transaction, the insider now owns 10,246 shares of the company’s stock, valued at $480,025.10. This represents a 5.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,318 shares of company stock worth $2,098,866. Corporate insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SKWD. Summit Investment Advisors Inc. raised its position in Skyward Specialty Insurance Group by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock worth $196,000 after buying an additional 247 shares during the last quarter. Chartwell Investment Partners LLC lifted its stake in shares of Skyward Specialty Insurance Group by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 38,037 shares of the company’s stock valued at $1,549,000 after buying an additional 306 shares during the period. IHT Wealth Management LLC raised its stake in Skyward Specialty Insurance Group by 4.6% during the third quarter. IHT Wealth Management LLC now owns 10,501 shares of the company’s stock worth $428,000 after purchasing an additional 464 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Skyward Specialty Insurance Group by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,129 shares of the company’s stock worth $1,068,000 after purchasing an additional 748 shares during the period. Finally, Sterling Capital Management LLC raised its stake in Skyward Specialty Insurance Group by 756.1% during the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock worth $46,000 after purchasing an additional 809 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

About Skyward Specialty Insurance Group

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.