Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives Consensus Rating of “Buy” from Analysts

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has earned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $42.75.

Several brokerages recently issued reports on SKWD. Truist Financial lifted their target price on Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. JMP Securities lifted their price objective on Skyward Specialty Insurance Group from $45.00 to $47.00 and gave the stock a “market outperform” rating in a research note on Monday, July 1st. Piper Sandler lifted their price objective on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th.

Insider Activity at Skyward Specialty Insurance Group

In other news, CEO Andrew S. Robinson sold 23,533 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $37.21, for a total transaction of $875,662.93. Following the transaction, the chief executive officer now owns 83,154 shares of the company’s stock, valued at approximately $3,094,160.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Mark W. Haushill sold 3,244 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $37.18, for a total transaction of $120,611.92. Following the transaction, the chief financial officer now owns 177,886 shares in the company, valued at $6,613,801.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew S. Robinson sold 23,533 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $37.21, for a total value of $875,662.93. Following the transaction, the chief executive officer now owns 83,154 shares in the company, valued at approximately $3,094,160.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,095,277 shares of company stock worth $186,000,945. Company insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its stake in shares of Skyward Specialty Insurance Group by 24.2% during the first quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock valued at $111,000 after buying an additional 579 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Skyward Specialty Insurance Group by 54.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock valued at $114,000 after purchasing an additional 1,186 shares during the last quarter. Diversified Trust Co grew its stake in Skyward Specialty Insurance Group by 21.1% in the fourth quarter. Diversified Trust Co now owns 9,325 shares of the company’s stock valued at $316,000 after purchasing an additional 1,625 shares during the last quarter. American International Group Inc. grew its stake in Skyward Specialty Insurance Group by 23.7% in the first quarter. American International Group Inc. now owns 14,684 shares of the company’s stock valued at $549,000 after purchasing an additional 2,818 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in Skyward Specialty Insurance Group by 53.8% in the fourth quarter. New York State Common Retirement Fund now owns 10,602 shares of the company’s stock valued at $359,000 after purchasing an additional 3,707 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Trading Up 1.6 %

Shares of SKWD opened at $36.25 on Friday. The business’s 50 day moving average is $36.21 and its 200 day moving average is $35.08. The company has a market capitalization of $1.45 billion, a PE ratio of 13.33 and a beta of 0.62. Skyward Specialty Insurance Group has a 12-month low of $22.97 and a 12-month high of $39.16.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.09. The company had revenue of $264.97 million for the quarter, compared to the consensus estimate of $251.66 million. Skyward Specialty Insurance Group had a return on equity of 15.98% and a net margin of 11.16%. During the same quarter last year, the company earned $0.42 EPS. Equities research analysts predict that Skyward Specialty Insurance Group will post 2.78 earnings per share for the current 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.