JMP Securities Issues Positive Forecast for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price lifted by JMP Securities from $50.00 to $53.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a market outperform rating on the stock.

SKWD has been the topic of a number of other research reports. Keefe, Bruyette & Woods upped their target price on shares of 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. Jefferies Financial Group upped their target price on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. William Blair began coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, August 19th. They issued an “outperform” rating on the stock. Truist Financial reaffirmed a “buy” rating and issued a $49.00 target price (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. Finally, Piper Sandler upped their target price on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.22.

Skyward Specialty Insurance Group Trading Down 0.6 %

Shares of SKWD stock opened at $44.46 on Wednesday. The company’s 50-day moving average price is $42.21 and its 200-day moving average price is $38.61. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.85 and a beta of 0.60. Skyward Specialty Insurance Group has a twelve month low of $27.56 and a twelve month high of $48.40.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.07. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. The firm had revenue of $300.89 million for the quarter, compared to analysts’ expectations of $292.43 million. During the same quarter in the previous year, the company posted $0.65 EPS. As a group, equities research analysts predict that Skyward Specialty Insurance Group will post 2.98 EPS for the current year.

Insiders Place Their Bets

In related news, Director Katharine Terry sold 1,653 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $36.87, for a total transaction of $60,946.11. Following the sale, the director now directly owns 4,001 shares in the company, valued at approximately $147,516.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

A number of large investors have recently made changes to their positions in the company. Callahan Advisors LLC increased its stake in shares of Skyward Specialty Insurance Group by 8.6% during the third quarter. Callahan Advisors LLC now owns 50,254 shares of the company’s stock worth $2,047,000 after buying an additional 3,988 shares during the period. Emerald Advisers LLC increased its stake in shares of Skyward Specialty Insurance Group by 3.4% during the third quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock worth $35,622,000 after buying an additional 28,618 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Skyward Specialty Insurance Group during the third quarter worth approximately $41,000. US Bancorp DE increased its stake in shares of Skyward Specialty Insurance Group by 17.2% during the third quarter. US Bancorp DE now owns 14,129 shares of the company’s stock worth $575,000 after buying an additional 2,073 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in Skyward Specialty Insurance Group by 54.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 12,353 shares of the company’s stock valued at $496,000 after purchasing an additional 4,334 shares during the last quarter. 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.