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

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

SKWD has been the subject of a number of other research reports. Piper Sandler boosted their price target on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an overweight rating in a research note on Monday, April 1st. Wolfe Research started coverage on shares of Skyward Specialty Insurance Group in a research note on Thursday, January 11th. They issued an outperform rating and a $39.00 price target for the company. Keefe, Bruyette & Woods upped their price objective on shares of 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. BMO Capital Markets upped their price objective on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a market perform rating in a research note on Monday, February 26th. Finally, Truist Financial upped their price objective on shares of 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. One 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 company. According to MarketBeat.com, the company currently has an average rating of Buy and an average price target of $39.89.

Skyward Specialty Insurance Group Trading Up 1.7 %

Shares of NASDAQ:SKWD opened at $35.26 on Monday. The company has a 50 day moving average of $35.75 and a 200 day moving average of $32.76. The stock has a market cap of $1.41 billion, a P/E ratio of 15.74 and a beta of 0.45. Skyward Specialty Insurance Group has a 12 month low of $20.81 and a 12 month high of $38.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 14.31%. The business 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 company earned $0.36 EPS. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities analysts forecast that Skyward Specialty Insurance Group will post 2.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Andrew S. Robinson sold 13,374 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $35.70, for a total value of $477,451.80. Following the completion of the transaction, the chief executive officer now directly owns 96,883 shares in the company, valued at approximately $3,458,723.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Andrew S. Robinson sold 13,374 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $35.70, for a total value of $477,451.80. Following the completion of the transaction, the chief executive officer now directly owns 96,883 shares in the company, valued at approximately $3,458,723.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew S. Robinson sold 12,109 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $35.56, for a total transaction of $430,596.04. Following the sale, the chief executive officer now directly owns 74,533 shares in the company, valued at $2,650,393.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,890 shares of company stock worth $3,533,839. 8.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Skyward Specialty Insurance Group

Several institutional investors have recently bought and sold shares of SKWD. Quarry LP grew its position in Skyward Specialty Insurance Group by 87.9% during 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 last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Skyward Specialty Insurance Group by 390.8% during the 2nd 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 last quarter. Amalgamated Bank boosted 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 acquiring an additional 1,095 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in shares of Skyward Specialty Insurance Group during the 1st quarter valued at about $81,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Skyward Specialty Insurance Group during the 1st quarter valued at about $84,000. 94.83% of the stock is 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.