Skyward Specialty Insurance Group (NASDAQ:SKWD) Reaches New 1-Year High – Here’s Why

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $54.86 and last traded at $54.07, with a volume of 10515 shares changing hands. The stock had previously closed at $53.70.

Analyst Ratings Changes

A number of research firms recently weighed in on SKWD. Raymond James raised their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 5th. JMP Securities upped their price target on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. William Blair began coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, August 19th. They issued an “outperform” rating on the stock. Finally, Barclays boosted their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.89.

Skyward Specialty Insurance Group Stock Up 0.7 %

The company has a market cap of $2.17 billion, a PE ratio of 16.37, a PEG ratio of 0.97 and a beta of 0.53. The company’s fifty day moving average is $45.89 and its 200-day moving average is $40.46.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The firm had revenue of $300.89 million for the quarter, compared to the consensus estimate of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same period last year, the business posted $0.65 EPS. Equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several institutional investors have recently made changes to their positions in the business. Arcadia Investment Management Corp MI bought a new position in Skyward Specialty Insurance Group in the third quarter worth approximately $41,000. Amalgamated Bank raised its holdings in Skyward Specialty Insurance Group by 27.7% in the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after purchasing an additional 279 shares during the period. Quarry LP increased its holdings in Skyward Specialty Insurance Group by 176.9% in the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after acquiring an additional 879 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Skyward Specialty Insurance Group during the second quarter valued at approximately $160,000. Finally, CWM LLC boosted its position in shares of Skyward Specialty Insurance Group by 3,103.1% in the third quarter. CWM LLC now owns 4,132 shares of the company’s stock worth $168,000 after purchasing an additional 4,003 shares during the period. 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.