Barclays Lowers Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $57.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target dropped by analysts at Barclays from $63.00 to $57.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 27.28% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Susquehanna set a $80.00 price target on shares of Skyward Specialty Insurance Group in a report on Friday, January 16th. Weiss Ratings lowered shares of Skyward Specialty Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Zacks Research lowered shares of Skyward Specialty Insurance Group from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Keefe, Bruyette & Woods raised shares of Skyward Specialty Insurance Group from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, March 13th. Finally, Citigroup reissued a “market outperform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and a consensus price target of $65.20.

Skyward Specialty Insurance Group Price Performance

Shares of Skyward Specialty Insurance Group stock traded up $0.81 on Wednesday, hitting $44.78. 210,159 shares of the company’s stock traded hands, compared to its average volume of 507,256. Skyward Specialty Insurance Group has a one year low of $40.60 and a one year high of $65.05. The stock has a market capitalization of $1.99 billion, a PE ratio of 10.98 and a beta of 0.61. The firm’s 50-day moving average price is $44.95 and its two-hundred day moving average price is $46.76.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Monday, February 23rd. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.21. Skyward Specialty Insurance Group had a net margin of 12.00% and a return on equity of 17.98%. The company had revenue of $385.59 million during the quarter, compared to analyst estimates of $380.86 million. During the same quarter in the previous year, the business earned $0.80 EPS. On average, analysts forecast that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Andrew S. Robinson bought 22,100 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average cost of $46.76 per share, with a total value of $1,033,396.00. Following the purchase, the chief executive officer owned 167,674 shares in the company, valued at approximately $7,840,436.24. This trade represents a 15.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher Locke Peirce bought 3,200 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average cost of $47.30 per share, with a total value of $151,360.00. Following the completion of the purchase, the director owned 3,200 shares in the company, valued at approximately $151,360. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 30,500 shares of company stock valued at $1,433,546. Company insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC boosted its stake in shares of Skyward Specialty Insurance Group by 30.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,285 shares of the company’s stock worth $332,000 after buying an additional 1,456 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Skyward Specialty Insurance Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,096 shares of the company’s stock worth $1,169,000 after buying an additional 967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Skyward Specialty Insurance Group by 16.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,804 shares of the company’s stock worth $5,282,000 after buying an additional 14,217 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Skyward Specialty Insurance Group by 286.1% during the 1st quarter. Jane Street Group LLC now owns 33,768 shares of the company’s stock worth $1,787,000 after buying an additional 25,022 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Skyward Specialty Insurance Group by 5.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 106,039 shares of the company’s stock worth $6,128,000 after buying an additional 5,913 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc (NASDAQ: SKWD) is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.