Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $61.00 at Truist Financial

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target upped by equities research analysts at Truist Financial from $54.00 to $61.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 17.00% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. JMP Securities reissued a “market outperform” rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Piper Sandler cut their price target on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. TD Cowen assumed coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a “hold” rating and a $43.00 price objective for the company. Keefe, Bruyette & Woods raised their target price on Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Raymond James boosted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 5th. Three equities 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 stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $54.75.

Skyward Specialty Insurance Group Stock Up 2.2 %

NASDAQ:SKWD opened at $52.14 on Thursday. The company has a market cap of $2.09 billion, a PE ratio of 15.89, a P/E/G ratio of 0.81 and a beta of 0.83. The business’s 50 day moving average is $47.37 and its two-hundred day moving average is $45.82. Skyward Specialty Insurance Group has a 52 week low of $33.27 and a 52 week high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The company had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $295.56 million. As a group, sell-side 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, Director James Charles Hays sold 25,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the sale, the director now directly owns 747,261 shares in the company, valued at approximately $40,352,094. The trade was a 3.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew S. Robinson sold 6,010 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total transaction of $296,713.70. Following the completion of the sale, the chief executive officer now directly owns 77,144 shares of the company’s stock, valued at approximately $3,808,599.28. This represents a 7.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,318 shares of company stock valued at $2,098,866 over the last 90 days. 8.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds have recently modified their holdings of the company. Arcadia Investment Management Corp MI acquired a new position in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at $41,000. Sterling Capital Management LLC grew its stake in shares of Skyward Specialty Insurance Group by 756.1% in the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after buying an additional 809 shares in the last quarter. Quarry LP increased its holdings in Skyward Specialty Insurance Group by 176.9% in the third quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after buying an additional 879 shares during the last quarter. ORG Wealth Partners LLC bought a new position in Skyward Specialty Insurance Group during the fourth quarter valued at approximately $61,000. Finally, Summit Investment Advisors Inc. lifted its stake in Skyward Specialty Insurance Group by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after acquiring an additional 247 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.