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

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target upped by stock analysts at Keefe, Bruyette & Woods from $44.00 to $46.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 23.46% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets upped their price objective on shares of 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. Piper Sandler raised 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 research report on Monday, April 1st. Wolfe Research started coverage on shares of Skyward Specialty Insurance Group in a research note on Thursday, January 11th. They set an “outperform” rating and a $39.00 target price for the company. JMP Securities increased their target price on shares of Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 2nd. Finally, Truist Financial raised their price objective on shares of 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. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $40.78.

Skyward Specialty Insurance Group Stock Performance

NASDAQ SKWD traded down $0.35 during mid-day trading on Wednesday, reaching $37.26. 23,220 shares of the stock were exchanged, compared to its average volume of 340,431. The business’s 50 day moving average is $36.32 and its 200-day moving average is $33.50. Skyward Specialty Insurance Group has a 1 year low of $21.76 and a 1 year high of $38.64. The company has a market capitalization of $1.49 billion, a P/E ratio of 13.71 and a beta of 0.68.

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

Insider Buying and Selling at Skyward Specialty Insurance Group

In related news, CEO Andrew S. Robinson sold 13,407 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $35.63, for a total transaction of $477,691.41. Following the sale, the chief executive officer now owns 61,126 shares of the company’s stock, valued at $2,177,919.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 13,407 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $35.63, for a total value of $477,691.41. Following the sale, the chief executive officer now directly owns 61,126 shares of the company’s stock, valued at approximately $2,177,919.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew S. Robinson sold 13,374 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total value of $477,451.80. Following the completion of the sale, the chief executive officer now directly owns 96,883 shares in the company, valued at $3,458,723.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,890 shares of company stock valued at $3,533,839. Insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Large investors have recently modified their holdings of the company. Amalgamated Bank raised its holdings in shares of Skyward Specialty Insurance Group by 90.9% during the 3rd quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock valued at $63,000 after buying an additional 1,095 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Skyward Specialty Insurance Group by 54.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock valued at $114,000 after purchasing an additional 1,186 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of Skyward Specialty Insurance Group by 21.1% in the 4th quarter. Diversified Trust Co now owns 9,325 shares of the company’s stock valued at $316,000 after buying an additional 1,625 shares during the period. New York State Common Retirement Fund boosted its stake in Skyward Specialty Insurance Group by 82.2% in the third quarter. New York State Common Retirement Fund now owns 6,895 shares of the company’s stock valued at $189,000 after acquiring an additional 3,110 shares during the period. Finally, Jump Financial LLC boosted its position in shares of Skyward Specialty Insurance Group by 10.2% during the fourth quarter. Jump Financial LLC now owns 50,185 shares of the company’s stock worth $1,700,000 after buying an additional 4,642 shares during the period. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

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.