Skyward Specialty Insurance Group (NASDAQ:SKWD) Given New $61.00 Price Target at Truist Financial

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price upped by stock analysts at Truist Financial from $54.00 to $61.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 17.00% from the stock’s previous close.

SKWD has been the subject of a number of other reports. Barclays raised their price target on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. TD Cowen started coverage on Skyward Specialty Insurance Group in a research report on Monday, January 13th. They set a “hold” rating and a $43.00 target price for the company. Raymond James upped their price objective on shares of 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. Keefe, Bruyette & Woods raised their target price on shares of Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, JMP Securities restated a “market outperform” rating and set a $60.00 price objective on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

Skyward Specialty Insurance Group Stock Up 2.2 %

Shares of Skyward Specialty Insurance Group stock opened at $52.14 on Thursday. Skyward Specialty Insurance Group has a 12-month low of $33.27 and a 12-month high of $55.62. The stock has a 50 day moving average price of $47.37 and a two-hundred day moving average price of $45.82. The stock has a market capitalization of $2.09 billion, a P/E ratio of 15.89, a PEG ratio of 0.81 and a beta of 0.83.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The business had revenue of $304.40 million for the quarter, compared to the consensus estimate of $295.56 million. Sell-side analysts anticipate that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current year.

Insider Activity

In related news, Director James Charles Hays sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total value of $1,350,000.00. Following the sale, the director now owns 747,261 shares of the company’s stock, valued at approximately $40,352,094. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas N. Schmitt sold 637 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $47.81, for a total value of $30,454.97. Following the sale, the insider now owns 10,792 shares in the company, valued at $515,965.52. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,318 shares of company stock worth $2,098,866 over the last ninety days. Insiders own 8.01% of the company’s stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several large investors have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI acquired a new stake in Skyward Specialty Insurance Group in the third quarter valued at $41,000. Sterling Capital Management LLC raised its holdings in shares of Skyward Specialty Insurance Group by 756.1% in the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after purchasing an additional 809 shares during the period. Quarry LP raised its holdings in shares of Skyward Specialty Insurance Group by 176.9% in the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after purchasing an additional 879 shares during the period. ORG Wealth Partners LLC acquired a new stake in Skyward Specialty Insurance Group in the 4th quarter valued at about $61,000. Finally, Summit Investment Advisors Inc. grew its holdings in Skyward Specialty Insurance Group by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock worth $196,000 after purchasing an additional 247 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.