Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD – Get Free Report) reached a new 52-week high on Thursday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The company traded as high as $64.20 and last traded at $63.5020, with a volume of 37034 shares traded. The stock had previously closed at $63.04.
Several other equities research analysts have also recently weighed in on SKWD. Keefe, Bruyette & Woods upped their price target on Skyward Specialty Insurance Group from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Piper Sandler raised their price objective on Skyward Specialty Insurance Group from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Truist Financial boosted their target price on shares of Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday. Texas Capital raised shares of Skyward Specialty Insurance Group to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, Barclays increased their price target on shares of Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.70.
Read Our Latest Report on Skyward Specialty Insurance Group
Insider Transactions at Skyward Specialty Insurance Group
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in Skyward Specialty Insurance Group during the second quarter valued at approximately $214,576,000. Reinhart Partners LLC. grew its stake in shares of Skyward Specialty Insurance Group by 49.8% during the 4th quarter. Reinhart Partners LLC. now owns 2,416,753 shares of the company’s stock valued at $123,521,000 after purchasing an additional 803,217 shares during the period. Balyasny Asset Management L.P. grew its stake in shares of Skyward Specialty Insurance Group by 411.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 947,170 shares of the company’s stock valued at $45,047,000 after purchasing an additional 762,079 shares during the period. Wasatch Advisors LP increased its position in shares of Skyward Specialty Insurance Group by 198.5% during the 2nd quarter. Wasatch Advisors LP now owns 954,489 shares of the company’s stock valued at $55,694,000 after purchasing an additional 634,708 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new position in shares of Skyward Specialty Insurance Group in the 3rd quarter worth approximately $24,234,000. 94.83% of the stock is owned by institutional investors.
Skyward Specialty Insurance Group Trading Down 3.0%
The company’s 50 day moving average price is $56.04 and its two-hundred day moving average price is $49.10. The stock has a market cap of $2.58 billion, a P/E ratio of 14.84 and a beta of 0.34.
Skyward Specialty Insurance Group (NASDAQ:SKWD – Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 19.61%. The business had revenue of $489.53 million during the quarter, compared to analysts’ expectations of $706.59 million. On average, sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 4.91 earnings per share for the current year.
Skyward Specialty Insurance Group Company Profile
Skyward Specialty Insurance Group, Inc (NASDAQ: SKWD) is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.
Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.
Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.
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