Skyward Specialty Insurance Group (NASDAQ:SKWD) Given New $71.00 Price Target at Barclays

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price increased by stock analysts at Barclays from $68.00 to $71.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 19.31% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. TD Cowen lifted their target price on Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings downgraded shares of Skyward Specialty Insurance Group from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 30th. Citigroup restated a “market outperform” rating on shares of Skyward Specialty Insurance Group in a research report on Monday, October 12th. Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a report on Sunday, October 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.44.

Skyward Specialty Insurance Group Stock Down 6.8%

Skyward Specialty Insurance Group stock traded down $4.35 during mid-day trading on Friday, reaching $59.51. 177,476 shares of the company’s stock were exchanged, compared to its average volume of 469,412. The business’s fifty day simple moving average is $57.94 and its 200 day simple moving average is $51.92. The firm has a market capitalization of $2.64 billion, a PE ratio of 13.92 and a beta of 0.32. Skyward Specialty Insurance Group has a one year low of $40.60 and a one year high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Thursday, November 5th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. The business had revenue of $455.34 million for the quarter, compared to analysts’ expectations of $753.93 million. Skyward Specialty Insurance Group had a return on equity of 18.72% and a net margin of 10.84%. On average, sell-side analysts forecast that Skyward Specialty Insurance Group will post 5.00 earnings per share for the current year.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of SKWD. Allspring Global Investments Holdings LLC increased its position in Skyward Specialty Insurance Group by 1.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 164,179 shares of the company’s stock worth $8,994,000 after buying an additional 2,491 shares during the last quarter. Financial Management Professionals Inc. raised its stake in shares of Skyward Specialty Insurance Group by 46.7% in the third quarter. Financial Management Professionals Inc. now owns 785 shares of the company’s stock valued at $41,000 after buying an additional 250 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Skyward Specialty Insurance Group by 78.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,814 shares of the company’s stock valued at $96,000 after buying an additional 797 shares during the period. Ellsworth Advisors LLC bought a new stake in shares of Skyward Specialty Insurance Group in the third quarter valued at $820,000. Finally, Baird Financial Group Inc. raised its stake in shares of Skyward Specialty Insurance Group by 8.0% in the second quarter. Baird Financial Group Inc. now owns 10,016 shares of the company’s stock valued at $584,000 after buying an additional 746 shares during the period. 94.83% of the stock is owned by institutional investors.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc is a specialty property and casualty insurance company headquartered in Houston, Texas. Through its insurance subsidiaries, the company provides customized coverage for businesses and organizations that may be underserved by the standard insurance market.

Its offerings include excess and surplus lines insurance, professional liability, healthcare liability, workers’ compensation, surety, commercial property and casualty coverage, specialty programs, and accident and health products.