JMP Securities Issues Positive Forecast for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price hoisted by JMP Securities from $60.00 to $65.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Wolfe Research reissued a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Truist Financial upped their price target on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Keefe, Bruyette & Woods lowered 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 report on Wednesday, April 9th. Piper Sandler reduced their target price on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, Barclays lifted their price target on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, April 11th. Four investment 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’s stock. Based on data from MarketBeat, Skyward Specialty Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.63.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock opened at $58.63 on Friday. Skyward Specialty Insurance Group has a one year low of $33.42 and a one year high of $58.70. The stock has a fifty day moving average of $51.97 and a 200 day moving average of $49.64. The stock has a market cap of $2.36 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 0.81 and a beta of 0.63.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. The firm had revenue of $328.53 million during the quarter, compared to analyst estimates of $310.94 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same quarter in the prior year, the firm earned $0.75 EPS. As a group, sell-side analysts predict 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, insider John A. Burkhart III sold 4,832 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the sale, the insider now owns 17,655 shares in the company, valued at $886,987.20. The trade was a 21.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas N. Schmitt sold 6,300 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $51.92, for a total value of $327,096.00. Following the transaction, the insider now owns 3,946 shares of the company’s stock, valued at approximately $204,876.32. The trade was a 61.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,132 shares of company stock worth $620,476. 8.01% of the stock is owned by insiders.

Institutional Trading of Skyward Specialty Insurance Group

Hedge funds have recently modified their holdings of the company. Reinhart Partners LLC. bought a new stake in Skyward Specialty Insurance Group in the first quarter worth $49,979,000. Capital World Investors bought a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth about $41,182,000. American Century Companies Inc. raised its position in shares of 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 valued at $79,744,000 after buying an additional 553,389 shares in the last quarter. WCM Investment Management LLC bought a new position in shares of Skyward Specialty Insurance Group in the 4th quarter valued at about $18,084,000. Finally, Swedbank AB purchased a new position in Skyward Specialty Insurance Group in the fourth quarter worth about $15,164,000. 94.83% of the stock is owned by hedge funds and other 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.