Barclays Boosts Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $64.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective upped by research analysts at Barclays from $63.00 to $64.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 21.84% from the stock’s current price.

Several other brokerages have also recently issued reports on SKWD. Keefe, Bruyette & Woods dropped their price objective on Skyward Specialty Insurance Group from $62.00 to $57.00 and set an “outperform” rating on the stock in a research note on Wednesday. Jefferies Financial Group lowered Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and cut their price target for the company from $62.00 to $59.00 in a research note on Friday. Truist Financial upped 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 note on Thursday, February 27th. TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They set a “hold” rating and a $43.00 target price on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $60.00 target price on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.00.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ SKWD opened at $52.53 on Friday. The company has a market cap of $2.12 billion, a P/E ratio of 16.02, a PEG ratio of 0.81 and a beta of 0.63. The firm has a 50-day simple moving average of $50.56 and a two-hundred day simple moving average of $48.50. Skyward Specialty Insurance Group has a 1 year low of $33.27 and a 1 year high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data 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. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The company had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $295.56 million. As a group, equities research analysts expect that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, insider John A. Burkhart III sold 4,832 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total transaction of $242,759.68. Following the transaction, the insider now owns 17,655 shares in the company, valued at approximately $886,987.20. This represents a 21.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gena L. Ashe sold 1,000 shares of Skyward Specialty Insurance Group stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total transaction of $50,620.00. Following the sale, the director now owns 734 shares of the company’s stock, valued at $37,155.08. The trade was a 57.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,132 shares of company stock valued at $620,476. 8.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Reinhart Partners LLC. purchased a new stake in shares of Skyward Specialty Insurance Group in the 1st quarter valued at $49,979,000. Capital World Investors purchased a new stake in Skyward Specialty Insurance Group in the fourth quarter valued at $41,182,000. American Century Companies Inc. grew its position in Skyward Specialty Insurance Group by 54.0% during the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock worth $79,744,000 after purchasing an additional 553,389 shares during the period. WCM Investment Management LLC purchased a new position in shares of Skyward Specialty Insurance Group during the 4th quarter valued at about $18,084,000. Finally, Swedbank AB acquired a new position in shares of Skyward Specialty Insurance Group in the 4th quarter valued at about $15,164,000. 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.