Keefe, Bruyette & Woods Boosts Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $62.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective raised by Keefe, Bruyette & Woods from $60.00 to $62.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 20.76% from the company’s previous close.

SKWD has been the topic of a number of other reports. Truist Financial raised their price target on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday. JMP Securities restated a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Raymond James raised their price target on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday. Finally, Piper Sandler cut their price objective on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Skyward Specialty Insurance Group Stock Down 1.7 %

Shares of Skyward Specialty Insurance Group stock traded down $0.87 during trading hours on Friday, hitting $51.34. The company’s stock had a trading volume of 136,548 shares, compared to its average volume of 387,829. Skyward Specialty Insurance Group has a 1-year low of $33.27 and a 1-year high of $55.62. The business has a fifty day moving average of $47.42 and a 200 day moving average of $45.87. The company has a market capitalization of $2.06 billion, a PE ratio of 15.64, a P/E/G ratio of 0.81 and a beta of 0.83.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released 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. The company had revenue of $304.40 million during the quarter, compared to analyst estimates of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. On average, sell-side analysts anticipate that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director James Charles Hays sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total value of $1,350,000.00. Following the transaction, the director now owns 747,261 shares of the company’s stock, valued at $40,352,094. The trade was a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Thomas N. Schmitt sold 546 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $46.85, for a total transaction of $25,580.10. Following the completion of the transaction, the insider now directly owns 10,246 shares in the company, valued at $480,025.10. This represents a 5.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,318 shares of company stock valued at $2,098,866. Company insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

Several institutional investors have recently made changes to their positions in SKWD. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Skyward Specialty Insurance Group in the fourth quarter valued at approximately $6,048,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Skyward Specialty Insurance Group by 35.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,587 shares of the company’s stock valued at $4,326,000 after buying an additional 22,313 shares during the period. ProShare Advisors LLC increased its holdings in Skyward Specialty Insurance Group by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 10,461 shares of the company’s stock valued at $529,000 after buying an additional 3,442 shares during the period. Quantedge Capital Pte Ltd acquired a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter valued at $445,000. Finally, Man Group plc acquired a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter valued at $507,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.