Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $46.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target boosted by Keefe, Bruyette & Woods from $44.00 to $46.00 in a research note released on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Truist Financial raised their target price on Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the company a buy rating in a research note on Friday, May 3rd. BMO Capital Markets boosted their price objective on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a market perform rating in a research report on Monday, February 26th. Wolfe Research started coverage on Skyward Specialty Insurance Group in a research report on Thursday, January 11th. They issued an outperform rating and a $39.00 target price on the stock. Piper Sandler boosted their price target on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an overweight rating in a research report on Monday, April 1st. Finally, JMP Securities raised their price target on Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the company a market outperform rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of Buy and a consensus price target of $40.78.

Skyward Specialty Insurance Group Stock Down 1.2 %

Shares of NASDAQ:SKWD opened at $37.16 on Wednesday. The company has a market cap of $1.49 billion, a PE ratio of 13.66 and a beta of 0.68. Skyward Specialty Insurance Group has a fifty-two week low of $21.76 and a fifty-two week high of $38.64. The firm has a 50-day simple moving average of $36.32 and a 200 day simple moving average of $33.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. The company had revenue of $264.97 million during the quarter, compared to the consensus estimate of $251.66 million. Skyward Specialty Insurance Group had a return on equity of 16.81% and a net margin of 11.16%. During the same period in the previous year, the firm posted $0.42 earnings per share. As a group, research analysts forecast that Skyward Specialty Insurance Group will post 2.7 EPS for the current fiscal year.

Insider Activity

In related news, CFO Mark W. Haushill sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $35.58, for a total value of $889,500.00. Following the sale, the chief financial officer now directly owns 236,688 shares in the company, valued at approximately $8,421,359.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Mark W. Haushill sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $35.58, for a total value of $889,500.00. Following the completion of the sale, the chief financial officer now owns 236,688 shares in the company, valued at approximately $8,421,359.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew S. Robinson sold 12,109 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $35.56, for a total transaction of $430,596.04. Following the completion of the transaction, the chief executive officer now directly owns 74,533 shares of the company’s stock, valued at approximately $2,650,393.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,890 shares of company stock worth $3,533,839. Corporate insiders own 8.01% of the company’s stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of institutional investors have recently bought and sold shares of the business. Amalgamated Bank grew its position in Skyward Specialty Insurance Group by 90.9% during the third quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock valued at $63,000 after purchasing an additional 1,095 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Skyward Specialty Insurance Group by 54.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock worth $114,000 after buying an additional 1,186 shares during the last quarter. International Assets Investment Management LLC bought a new position in Skyward Specialty Insurance Group during the fourth quarter valued at approximately $161,000. Adalta Capital Management LLC acquired a new stake in Skyward Specialty Insurance Group in the third quarter valued at approximately $137,000. Finally, ProShare Advisors LLC bought a new stake in Skyward Specialty Insurance Group in the first quarter worth approximately $200,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.