Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives Consensus Rating of “Moderate Buy” from Analysts

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $44.78.

A number of brokerages have recently issued reports on SKWD. Oppenheimer began coverage on Skyward Specialty Insurance Group in a research report on Friday, July 12th. They set a “market perform” rating on the stock. Jefferies Financial Group upped their price target on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods upped their price target on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. JMP Securities reissued a “market outperform” rating and issued a $50.00 target price on shares of Skyward Specialty Insurance Group in a research report on Tuesday. Finally, Barclays started coverage on Skyward Specialty Insurance Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $44.00 target price on the stock.

Skyward Specialty Insurance Group Stock Up 0.8 %

Shares of NASDAQ:SKWD opened at $46.11 on Monday. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60. Skyward Specialty Insurance Group has a 52 week low of $27.12 and a 52 week high of $46.32. The firm has a 50 day moving average of $40.81 and a 200 day moving average of $38.11.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.15. The business had revenue of $279.94 million for the quarter, compared to the consensus estimate of $282.70 million. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. During the same period in the prior year, the firm posted $0.42 earnings per share. On average, sell-side analysts expect that Skyward Specialty Insurance Group will post 2.98 EPS for the current year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $36.87, for a total value of $60,946.11. Following the sale, the director now directly owns 4,001 shares of the company’s stock, valued at approximately $147,516.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several hedge funds have recently modified their holdings of SKWD. Capital International Investors boosted its stake in shares of Skyward Specialty Insurance Group by 48.0% during the 1st quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock worth $82,767,000 after acquiring an additional 717,972 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Skyward Specialty Insurance Group during the 2nd quarter worth about $10,152,000. Dimensional Fund Advisors LP purchased a new position in Skyward Specialty Insurance Group in the 2nd quarter valued at about $8,151,000. Vanguard Group Inc. lifted its stake in Skyward Specialty Insurance Group by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock valued at $76,458,000 after buying an additional 207,744 shares in the last quarter. Finally, Mutual of America Capital Management LLC purchased a new position in Skyward Specialty Insurance Group in the 2nd quarter valued at about $6,568,000. 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.