Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Given Average Rating of “Moderate Buy” by Analysts

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat.com reports. Four investment 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 target among analysts that have issued a report on the stock in the last year is $61.13.

Several research firms recently weighed in on SKWD. Keefe, Bruyette & Woods increased their price target on shares of Skyward Specialty Insurance Group from $57.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday. JMP Securities raised their price target on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Friday, May 2nd. Barclays upped their price objective on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, April 11th. Truist Financial raised their target price on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD stock opened at $59.64 on Friday. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group has a 52-week low of $33.42 and a 52-week high of $60.40. The company has a 50-day simple moving average of $52.51 and a two-hundred day simple moving average of $50.00.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The company had revenue of $328.53 million during the quarter, compared to the consensus estimate of $310.94 million. During the same period last year, the business posted $0.75 earnings per share. On average, sell-side analysts forecast that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider John A. Burkhart III sold 4,832 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total transaction of $242,759.68. Following the completion of the transaction, the insider now owns 17,655 shares of the company’s stock, valued at approximately $886,987.20. The trade was a 21.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gena L. Ashe sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total transaction of $50,620.00. Following the completion of the sale, the director now owns 734 shares in the company, valued at $37,155.08. This represents a 57.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,132 shares of company stock worth $620,476 in the last quarter. 8.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKWD. Vanguard Group Inc. increased its position in shares of Skyward Specialty Insurance Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock worth $114,990,000 after purchasing an additional 16,572 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Skyward Specialty Insurance Group by 54.0% in the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock worth $79,744,000 after buying an additional 553,389 shares during the last quarter. Invesco Ltd. raised its position in shares of Skyward Specialty Insurance Group by 9.1% during the 4th quarter. Invesco Ltd. now owns 1,217,329 shares of the company’s stock valued at $61,524,000 after buying an additional 102,042 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Skyward Specialty Insurance Group by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company’s stock worth $58,860,000 after acquiring an additional 47,363 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Skyward Specialty Insurance Group by 37.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company’s stock worth $52,995,000 after acquiring an additional 283,749 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

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.