Skyward Specialty Insurance Group (NASDAQ:SKWD) Earns Hold Rating from Analysts at TD Cowen

TD Cowen initiated coverage on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) in a research report sent to investors on Monday morning, Marketbeat reports. The firm issued a hold rating and a $43.00 price objective on the stock.

Several other analysts have also recently commented on SKWD. 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 note on Wednesday, October 9th. Barclays lifted their price objective on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. JMP Securities increased their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Finally, Raymond James lifted their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.22.

Skyward Specialty Insurance Group Stock Up 1.4 %

Shares of SKWD stock opened at $45.00 on Monday. Skyward Specialty Insurance Group has a 52-week low of $29.40 and a 52-week high of $55.62. The stock’s 50-day moving average price is $50.27 and its 200 day moving average price is $43.85. The stock has a market capitalization of $1.80 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.70 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $300.89 million for the quarter, compared to analyst estimates of $292.43 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. Analysts expect that Skyward Specialty Insurance Group will post 3.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mark W. Haushill sold 1,630 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $49.06, for a total value of $79,967.80. Following the sale, the chief financial officer now directly owns 176,971 shares in the company, valued at $8,682,197.26. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Charles Hays sold 25,000 shares of the 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,318 shares of company stock worth $2,098,866. 8.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SKWD. Principal Financial Group Inc. increased its position in Skyward Specialty Insurance Group by 49.8% during the third quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock worth $4,240,000 after buying an additional 34,612 shares in the last quarter. Barclays PLC boosted its stake in shares of Skyward Specialty Insurance Group by 277.7% during the third quarter. Barclays PLC now owns 64,032 shares of the company’s stock valued at $2,608,000 after acquiring an additional 47,081 shares during the last quarter. Marshall Wace LLP purchased a new stake in Skyward Specialty Insurance Group during the 2nd quarter worth about $10,152,000. State Street Corp raised its stake in Skyward Specialty Insurance Group by 10.8% in the 3rd quarter. State Street Corp now owns 844,233 shares of the company’s stock valued at $34,386,000 after purchasing an additional 82,328 shares during the last quarter. Finally, Navellier & Associates Inc. purchased a new position in Skyward Specialty Insurance Group in the 3rd quarter valued at about $1,051,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.