Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $45.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective raised by investment analysts at Barclays from $44.00 to $45.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 0.87% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on SKWD. Piper Sandler increased their price target on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Oppenheimer initiated coverage on shares of Skyward Specialty Insurance Group in a research report on Friday, July 12th. They set a “market perform” rating on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price target on shares of Skyward Specialty Insurance Group in a research note on Tuesday, October 15th. Jefferies Financial Group boosted their price objective on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Truist Financial reiterated a “buy” rating and issued a $49.00 target price (up from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.89.

Skyward Specialty Insurance Group Trading Down 0.3 %

Skyward Specialty Insurance Group stock traded down $0.14 during mid-day trading on Wednesday, reaching $44.61. The company had a trading volume of 209,104 shares, compared to its average volume of 359,334. The business has a fifty day simple moving average of $42.10 and a 200 day simple moving average of $38.57. The company has a market cap of $1.79 billion, a P/E ratio of 15.19, a P/E/G ratio of 0.85 and a beta of 0.60. Skyward Specialty Insurance Group has a fifty-two week low of $27.56 and a fifty-two week high of $48.40.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. The business had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. During the same quarter last year, the business earned $0.65 EPS. Research analysts forecast that Skyward Specialty Insurance Group will post 2.98 EPS for the current year.

Insider Transactions at Skyward Specialty Insurance Group

In related news, Director Katharine Terry sold 1,653 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $36.87, for a total transaction of $60,946.11. Following the transaction, the director now directly owns 4,001 shares of the company’s stock, valued at $147,516.87. This trade 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 is available at this link. Company insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. bought a new position in Skyward Specialty Insurance Group in the 1st quarter valued at $1,672,000. Allspring Global Investments Holdings LLC grew its position in Skyward Specialty Insurance Group by 19.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock valued at $17,383,000 after buying an additional 75,137 shares during the period. Swiss National Bank increased its holdings in Skyward Specialty Insurance Group by 111.5% during the first quarter. Swiss National Bank now owns 55,000 shares of the company’s stock worth $2,058,000 after buying an additional 29,000 shares during the last quarter. Marshall Wace LLP purchased a new stake in Skyward Specialty Insurance Group during the second quarter worth about $10,152,000. Finally, Capstone Investment Advisors LLC raised its position in Skyward Specialty Insurance Group by 68.3% in the first quarter. Capstone Investment Advisors LLC now owns 107,796 shares of the company’s stock worth $4,033,000 after acquiring an additional 43,739 shares during the period. 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.