Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $42.00

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

Several other research firms also recently issued reports on SKWD. Piper Sandler upped their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an overweight rating in a report on Monday, April 1st. Truist Financial upped their price target on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a buy rating in a report on Thursday, February 22nd. Wolfe Research initiated coverage on Skyward Specialty Insurance Group in a research note on Thursday, January 11th. They issued an outperform rating and a $39.00 price objective on the stock. 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. Finally, Keefe, Bruyette & Woods raised their target price on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an outperform rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $39.89.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ:SKWD opened at $34.66 on Monday. The stock has a market capitalization of $1.39 billion, a P/E ratio of 15.47 and a beta of 0.45. The business has a 50-day moving average of $35.64 and a two-hundred day moving average of $32.75. Skyward Specialty Insurance Group has a fifty-two week low of $20.81 and a fifty-two week high of $38.64.

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 business had revenue of $321.60 million for the quarter, compared to the consensus estimate of $320.34 million. During the same period last year, the business earned $0.36 EPS. The firm’s revenue was up 21.5% compared to the same quarter last year. As a group, research analysts expect that Skyward Specialty Insurance Group will post 2.64 EPS for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SKWD. Quarry LP grew its stake in shares of Skyward Specialty Insurance Group by 87.9% in the 4th quarter. Quarry LP now owns 746 shares of the company’s stock valued at $25,000 after purchasing an additional 349 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Skyward Specialty Insurance Group by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 71,060 shares of the company’s stock valued at $1,805,000 after buying an additional 599 shares in the last quarter. Amalgamated Bank grew its position in Skyward Specialty Insurance Group by 90.9% in the third quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock valued at $63,000 after acquiring an additional 1,095 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Skyward Specialty Insurance Group by 54.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock worth $114,000 after acquiring an additional 1,186 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Skyward Specialty Insurance Group by 390.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,032 shares of the company’s stock valued at $52,000 after acquiring an additional 1,618 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.