Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives $56.25 Consensus Target Price from Analysts

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $57.00.

SKWD has been the topic of a number of research reports. Barclays boosted their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Financial Group lowered Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and reduced their price target for the company from $62.00 to $59.00 in a research report on Friday. Wolfe Research restated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Truist Financial boosted their price objective on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Keefe, Bruyette & Woods cut their target price on Skyward Specialty Insurance Group from $62.00 to $57.00 and set an “outperform” rating for the company in a research note on Wednesday.

Insider Activity

In other news, insider Thomas N. Schmitt sold 6,300 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $51.92, for a total value of $327,096.00. Following the completion of the sale, the insider now directly owns 3,946 shares of the company’s stock, valued at $204,876.32. This trade represents a 61.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gena L. Ashe sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.62, for a total value of $50,620.00. Following the transaction, the director now directly owns 734 shares in the company, valued at approximately $37,155.08. This represents a 57.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,132 shares of company stock valued at $620,476 in the last 90 days. Company insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SKWD. Sterling Capital Management LLC raised its holdings in Skyward Specialty Insurance Group by 756.1% in the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock worth $46,000 after purchasing an additional 809 shares in the last quarter. Quarry LP increased its position in shares of Skyward Specialty Insurance Group by 176.9% during the third quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after purchasing an additional 879 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth $61,000. Summit Investment Advisors Inc. raised its stake in Skyward Specialty Insurance Group by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after buying an additional 247 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Skyward Specialty Insurance Group in the fourth quarter worth about $219,000. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Stock Up 0.7 %

Skyward Specialty Insurance Group stock opened at $52.53 on Monday. The business has a 50 day moving average price of $50.56 and a two-hundred day moving average price of $48.50. Skyward Specialty Insurance Group has a 12 month low of $33.27 and a 12 month high of $55.62. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 0.81 and a beta of 0.63.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results 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 firm 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, analysts expect that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current fiscal year.

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.