Skyward Specialty Insurance Group (NASDAQ:SKWD) Hits New 12-Month High – Should You Buy?

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) hit a new 52-week high during trading on Friday . The company traded as high as $48.53 and last traded at $48.51, with a volume of 291917 shares trading hands. The stock had previously closed at $47.50.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Jefferies Financial Group raised their target price 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. Keefe, Bruyette & Woods increased their price target on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. William Blair assumed coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, August 19th. They issued an “outperform” rating for the company. Finally, JMP Securities increased their price objective on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.89.

Skyward Specialty Insurance Group Price Performance

The firm has a market capitalization of $1.95 billion, a PE ratio of 14.67, a P/E/G ratio of 0.85 and a beta of 0.53. The company’s fifty day simple moving average is $42.83 and its 200 day simple moving average is $38.98.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. The company 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 12.24% and a return on equity of 17.01%. During the same period last year, the business earned $0.65 earnings per share. On average, analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current fiscal year.

Institutional Trading of Skyward Specialty Insurance Group

Large investors have recently modified their holdings of the business. Arcadia Investment Management Corp MI bought a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter worth approximately $41,000. Amalgamated Bank boosted its holdings in Skyward Specialty Insurance Group by 27.7% during the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after acquiring an additional 279 shares during the period. Ameritas Investment Partners Inc. increased its stake in Skyward Specialty Insurance Group by 24.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock worth $111,000 after purchasing an additional 579 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Skyward Specialty Insurance Group in the second quarter valued at approximately $160,000. Finally, CWM LLC boosted its stake in shares of Skyward Specialty Insurance Group by 3,103.1% during the third quarter. CWM LLC now owns 4,132 shares of the company’s stock valued at $168,000 after purchasing an additional 4,003 shares during the period. Institutional investors 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.