Brokerages Set Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Target Price at $48.22

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $48.22.

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. TD Cowen assumed coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 target price for the company. Raymond James boosted their target price on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 5th. JMP Securities boosted their target price on 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. Finally, Barclays upped their price objective on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th.

Skyward Specialty Insurance Group Stock Up 1.5 %

Shares of Skyward Specialty Insurance Group stock opened at $43.30 on Wednesday. Skyward Specialty Insurance Group has a 12 month low of $29.40 and a 12 month high of $55.62. The business has a fifty day simple moving average of $49.15 and a 200 day simple moving average of $44.39. The stock has a market cap of $1.74 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 0.72 and a beta of 0.89.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The firm had revenue of $300.89 million during the quarter, compared to analysts’ expectations of $292.43 million. During the same period in the previous year, the firm earned $0.65 earnings per share. Analysts expect that Skyward Specialty Insurance Group will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James Charles Hays sold 25,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the sale, the director now owns 747,261 shares in the company, valued at approximately $40,352,094. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Haushill sold 1,630 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $49.06, for a total value of $79,967.80. Following the completion of the sale, the chief financial officer now owns 176,971 shares in the company, valued at $8,682,197.26. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,318 shares of company stock worth $2,098,866. Corporate insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of SKWD. Envestnet Asset Management Inc. raised its stake in Skyward Specialty Insurance Group by 197.2% in the second quarter. Envestnet Asset Management Inc. now owns 65,036 shares of the company’s stock valued at $2,353,000 after buying an additional 43,153 shares during the period. Dimensional Fund Advisors LP bought a new stake in Skyward Specialty Insurance Group in the second quarter valued at approximately $8,151,000. Renaissance Technologies LLC bought a new stake in Skyward Specialty Insurance Group in the second quarter valued at approximately $224,000. Amalgamated Bank raised its stake in Skyward Specialty Insurance Group by 27.7% in the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after buying an additional 279 shares during the period. Finally, Thrivent Financial for Lutherans bought a new stake in Skyward Specialty Insurance Group in the second quarter valued at approximately $964,000. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Company Profile

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.