Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $62.00 at Keefe, Bruyette & Woods

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective upped by Keefe, Bruyette & Woods from $60.00 to $62.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on the company. Piper Sandler cut their price objective on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price objective on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Truist Financial increased their price objective on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday. Raymond James upped their target price on 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. Finally, TD Cowen started coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Skyward Specialty Insurance Group Price Performance

Skyward Specialty Insurance Group stock opened at $52.02 on Friday. Skyward Specialty Insurance Group has a 12 month low of $33.27 and a 12 month high of $55.62. The business has a 50 day simple moving average of $47.44 and a 200-day simple moving average of $45.99. The stock has a market capitalization of $2.09 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 0.81 and a beta of 0.83.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $295.56 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. As a group, equities research analysts anticipate that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Insider Activity at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 1,630 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $49.06, for a total transaction of $79,967.80. Following the sale, the chief financial officer now owns 176,971 shares of the company’s stock, valued at $8,682,197.26. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Charles Hays sold 25,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 40,318 shares of company stock valued at $2,098,866 over the last quarter. Insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

A number of large investors have recently made changes to their positions in SKWD. Capital World Investors acquired a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter valued at $41,182,000. American Century Companies Inc. boosted its stake in Skyward Specialty Insurance Group by 54.0% in the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock worth $79,744,000 after buying an additional 553,389 shares during the last quarter. WCM Investment Management LLC acquired a new stake in Skyward Specialty Insurance Group in the 4th quarter worth about $18,084,000. Swedbank AB purchased a new position in shares of Skyward Specialty Insurance Group in the 4th quarter worth about $15,164,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Skyward Specialty Insurance Group by 37.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company’s stock worth $52,995,000 after purchasing an additional 283,749 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.