Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $64.00 at Barclays

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective boosted by equities researchers at Barclays from $63.00 to $64.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 21.84% from the company’s current price.

Several other research firms also recently weighed in on SKWD. Jefferies Financial Group downgraded Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $62.00 to $59.00 in a research report on Friday. Keefe, Bruyette & Woods lowered their target price on shares of Skyward Specialty Insurance Group from $62.00 to $57.00 and set an “outperform” rating on the stock in a research note on Wednesday. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a “hold” rating and a $43.00 target price for the company. Wolfe Research restated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Finally, Piper Sandler dropped their price target on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Skyward Specialty Insurance Group Trading Up 0.7 %

Shares of SKWD stock opened at $52.53 on Friday. The company has a market capitalization of $2.12 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.81 and a beta of 0.63. Skyward Specialty Insurance Group has a 12-month low of $33.27 and a 12-month high of $55.62. The business’s 50 day moving average is $50.56 and its two-hundred day moving average is $48.50.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $304.40 million for the quarter, compared to analysts’ expectations 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, research analysts predict that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In related news, insider John A. Burkhart III sold 4,832 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total transaction of $242,759.68. Following the completion of the transaction, the insider now owns 17,655 shares of the company’s stock, valued at approximately $886,987.20. This trade represents a 21.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas N. Schmitt sold 6,300 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 in the company, valued at approximately $204,876.32. The trade was a 61.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,132 shares of company stock worth $620,476. 8.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Reinhart Partners LLC. purchased a new stake in Skyward Specialty Insurance Group during the first quarter worth about $49,979,000. Capital World Investors purchased a new stake in Skyward Specialty Insurance Group during the 4th quarter worth approximately $41,182,000. American Century Companies Inc. lifted its holdings in Skyward Specialty Insurance Group by 54.0% during the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock worth $79,744,000 after buying an additional 553,389 shares in the last quarter. WCM Investment Management LLC purchased a new position in Skyward Specialty Insurance Group in the 4th quarter valued at approximately $18,084,000. Finally, Swedbank AB acquired a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth $15,164,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

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.