Keefe, Bruyette & Woods Has Lowered Expectations for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price decreased by stock analysts at Keefe, Bruyette & Woods from $62.00 to $57.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 15.81% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Barclays raised shares of Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $53.00 to $63.00 in a research report on Friday, March 14th. Piper Sandler cut their price objective on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Wolfe Research restated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Finally, TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a “hold” rating and a $43.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.63.

Skyward Specialty Insurance Group Trading Down 0.0 %

SKWD traded down $0.00 during midday trading on Wednesday, hitting $49.22. The company’s stock had a trading volume of 96,888 shares, compared to its average volume of 375,184. Skyward Specialty Insurance Group has a 52-week low of $33.27 and a 52-week high of $55.62. The firm has a 50-day moving average price of $50.02 and a two-hundred day moving average price of $48.25. The firm has a market cap of $1.99 billion, a P/E ratio of 14.97, a PEG ratio of 0.81 and a beta of 0.63.

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

Insiders Place Their Bets

In other news, insider John A. Burkhart III sold 4,832 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the sale, the insider now directly owns 17,655 shares of the company’s stock, valued at $886,987.20. The trade was a 21.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas N. Schmitt sold 6,300 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $51.92, for a total value of $327,096.00. Following the completion of the transaction, the insider now owns 3,946 shares of the company’s stock, valued at $204,876.32. This trade represents a 61.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,132 shares of company stock worth $620,476. 8.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Skyward Specialty Insurance Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock worth $114,990,000 after purchasing an additional 16,572 shares in the last quarter. American Century Companies Inc. increased its stake in Skyward Specialty Insurance Group by 54.0% in the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock valued at $79,744,000 after buying an additional 553,389 shares during the period. Invesco Ltd. lifted its position in Skyward Specialty Insurance Group by 9.1% in the 4th quarter. Invesco Ltd. now owns 1,217,329 shares of the company’s stock worth $61,524,000 after buying an additional 102,042 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Skyward Specialty Insurance Group by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company’s stock valued at $58,860,000 after buying an additional 47,363 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Skyward Specialty Insurance Group by 37.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company’s stock valued at $52,995,000 after acquiring an additional 283,749 shares in the last quarter. Hedge funds and other institutional investors 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.