Skyward Specialty Insurance Group (NASDAQ:SKWD) PT Raised to $49.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price upped by research analysts at Jefferies Financial Group from $45.00 to $49.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 13.06% from the stock’s previous close.

Several other analysts also recently weighed in on SKWD. William Blair initiated coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They issued an “outperform” rating for the company. Truist Financial reissued a “buy” rating and set a $49.00 price target (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Barclays began coverage on shares of Skyward Specialty Insurance Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $44.00 target price for the company. Finally, JMP Securities boosted their price target on Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the company a “market outperform” rating in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.78.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ SKWD opened at $43.34 on Wednesday. Skyward Specialty Insurance Group has a one year low of $27.12 and a one year high of $44.62. The firm’s 50 day simple moving average is $39.87 and its two-hundred day simple moving average is $37.75. The stock has a market capitalization of $1.74 billion, a P/E ratio of 15.93, a PEG ratio of 0.83 and a beta of 0.60.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.15. The business had revenue of $279.94 million during the quarter, compared to analyst estimates of $282.70 million. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. During the same period in the prior year, the business posted $0.42 earnings per share. As a group, equities analysts expect that Skyward Specialty Insurance Group will post 2.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Katharine Terry sold 1,653 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $36.87, for a total value of $60,946.11. Following the completion of the transaction, the director now owns 4,001 shares of the company’s stock, valued at $147,516.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital International Investors lifted its holdings in shares of Skyward Specialty Insurance Group by 48.0% during the first quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock valued at $82,767,000 after purchasing an additional 717,972 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock valued at $76,458,000 after acquiring an additional 207,744 shares during the last quarter. Champlain Investment Partners LLC grew its stake in shares of Skyward Specialty Insurance Group by 0.3% in the first quarter. Champlain Investment Partners LLC now owns 1,405,980 shares of the company’s stock worth $52,598,000 after acquiring an additional 4,510 shares during the period. Driehaus Capital Management LLC raised its holdings in shares of Skyward Specialty Insurance Group by 2.8% during the second quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company’s stock valued at $45,528,000 after purchasing an additional 34,286 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Skyward Specialty Insurance Group by 9.2% during the second quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock valued at $33,269,000 after purchasing an additional 77,354 shares during the period. Institutional investors own 94.83% of the company’s stock.

About Skyward Specialty Insurance Group

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.