JMP Securities Boosts Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $42.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price increased by JMP Securities from $40.00 to $42.00 in a report published on Monday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

SKWD has been the topic of a number of other reports. Piper Sandler upped their target price on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an overweight rating in a report on Monday, April 1st. Keefe, Bruyette & Woods upped their price objective on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Truist Financial lifted their target price on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a buy rating in a research note on Thursday, February 22nd. BMO Capital Markets upped their price target on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a market perform rating in a research note on Monday, February 26th. Finally, Wolfe Research initiated coverage on Skyward Specialty Insurance Group in a report on Thursday, January 11th. They set an outperform rating and a $39.00 price target for the company. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $39.89.

Skyward Specialty Insurance Group Price Performance

NASDAQ SKWD opened at $34.66 on Monday. The company has a fifty day moving average of $35.64 and a two-hundred day moving average of $32.75. Skyward Specialty Insurance Group has a 1 year low of $20.81 and a 1 year high of $38.64. The company has a market capitalization of $1.39 billion, a PE ratio of 15.47 and a beta of 0.45.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Skyward Specialty Insurance Group had a return on equity of 14.31% and a net margin of 9.56%. The company had revenue of $321.60 million during the quarter, compared to analysts’ expectations of $320.34 million. During the same quarter in the previous year, the business earned $0.36 earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, research analysts expect that Skyward Specialty Insurance Group will post 2.64 earnings per share for the current year.

Insider Activity at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 25,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $35.58, for a total transaction of $889,500.00. Following the transaction, the chief financial officer now owns 236,688 shares of the company’s stock, valued at $8,421,359.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Mark W. Haushill sold 25,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $35.58, for a total transaction of $889,500.00. Following the sale, the chief financial officer now owns 236,688 shares of the company’s stock, valued at $8,421,359.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Haushill sold 35,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the transaction, the chief financial officer now owns 261,688 shares in the company, valued at $9,410,300.48. The disclosure for this sale can be found here. Insiders have sold a total of 98,890 shares of company stock worth $3,533,839 over the last three months. 8.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Skyward Specialty Insurance Group by 109.5% during the third quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company’s stock worth $41,390,000 after purchasing an additional 790,826 shares in the last quarter. Redwood Investments LLC purchased a new position in Skyward Specialty Insurance Group during the 4th quarter valued at about $2,890,000. DekaBank Deutsche Girozentrale purchased a new position in Skyward Specialty Insurance Group during the 3rd quarter valued at about $396,000. ClariVest Asset Management LLC acquired a new position in Skyward Specialty Insurance Group during the third quarter worth about $1,106,000. Finally, Barclays PLC lifted its holdings in shares of Skyward Specialty Insurance Group by 263.2% in the third quarter. Barclays PLC now owns 16,494 shares of the company’s stock valued at $451,000 after purchasing an additional 11,953 shares in the last quarter. 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.