Wolfe Research Reiterates Peer Perform Rating for Skyward Specialty Insurance Group (NASDAQ:SKWD)

Wolfe Research reissued their peer perform rating on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) in a research report report published on Friday morning, MarketBeat.com reports.

SKWD has been the subject of several other research reports. Keefe, Bruyette & Woods upped their price target on shares of Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Raymond James upped 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 research report on Tuesday, November 5th. Barclays upped their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Finally, Piper Sandler reduced their price target on shares of 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. Four investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.00.

Skyward Specialty Insurance Group Trading Down 0.4 %

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

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $295.56 million. On average, analysts forecast that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, 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 value of $1,350,000.00. Following the completion of the transaction, the director now owns 747,261 shares in the company, valued at $40,352,094. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew S. Robinson sold 6,010 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total transaction of $296,713.70. Following the completion of the transaction, the chief executive officer now owns 77,144 shares of the company’s stock, valued at $3,808,599.28. This represents a 7.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,318 shares of company stock worth $2,098,866. 8.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Skyward Specialty Insurance Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock valued at $114,990,000 after purchasing an additional 16,572 shares in the last quarter. American Century Companies Inc. grew 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 valued at $79,744,000 after acquiring an additional 553,389 shares during the last quarter. Jennison Associates LLC grew its stake in Skyward Specialty Insurance Group by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock valued at $52,786,000 after acquiring an additional 12,484 shares during the last quarter. Invesco Ltd. grew its stake in Skyward Specialty Insurance Group by 9.1% in the 4th quarter. Invesco Ltd. now owns 1,217,329 shares of the company’s stock valued at $61,524,000 after acquiring an additional 102,042 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Skyward Specialty Insurance Group by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company’s stock valued at $58,860,000 after acquiring an additional 47,363 shares during the last quarter. Hedge funds and other institutional investors 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.