Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $53.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price lifted by Barclays from $45.00 to $53.00 in a research report sent to investors on Monday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group raised their target price on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JMP Securities boosted their price objective on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Finally, Raymond James increased their target price on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.78.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD opened at $45.61 on Monday. Skyward Specialty Insurance Group has a fifty-two week low of $29.40 and a fifty-two week high of $55.62. The stock has a fifty day moving average of $50.27 and a two-hundred day moving average of $43.58. The company has a market capitalization of $1.83 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The firm had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. During the same period in the prior year, the firm posted $0.65 earnings per share. As a group, equities research analysts forecast that Skyward Specialty Insurance Group will post 3.06 earnings per share for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 6,010 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total value of $296,713.70. Following the completion of the sale, the chief executive officer now owns 77,144 shares of the company’s stock, valued at $3,808,599.28. This trade represents a 7.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Charles Hays sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on 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 owns 747,261 shares in the company, valued at $40,352,094. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 40,056 shares of company stock worth $2,086,938. Corporate 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 company. Arcadia Investment Management Corp MI purchased a new position in Skyward Specialty Insurance Group in the third quarter valued at about $41,000. Amalgamated Bank raised its position in shares of Skyward Specialty Insurance Group by 27.7% in the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after purchasing an additional 279 shares in the last quarter. Quarry LP boosted its stake in shares of Skyward Specialty Insurance Group by 176.9% during the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after buying an additional 879 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Skyward Specialty Insurance Group during the second quarter worth approximately $160,000. Finally, CWM LLC increased its stake in shares of Skyward Specialty Insurance Group by 3,103.1% in the third quarter. CWM LLC now owns 4,132 shares of the company’s stock worth $168,000 after buying an additional 4,003 shares during the last quarter. 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.