Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives $43.78 Consensus Target Price from Brokerages

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have earned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $43.78.

Several equities analysts have commented on the stock. Oppenheimer initiated coverage on shares of Skyward Specialty Insurance Group in a research report on Friday, July 12th. They set a “market perform” rating for the company. Barclays initiated coverage on Skyward Specialty Insurance Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $44.00 price target for the company. Piper Sandler upped their price objective on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. JMP Securities lifted their target price on Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 6th. Finally, William Blair initiated coverage on Skyward Specialty Insurance Group in a report on Monday, August 19th. They set an “outperform” rating on the stock.

Insider Activity at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $36.87, for a total transaction of $60,946.11. Following the transaction, the director now directly owns 4,001 shares of the company’s stock, valued at $147,516.87. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several institutional investors have recently made changes to their positions in the company. Amalgamated Bank grew its holdings in Skyward Specialty Insurance Group by 27.7% during the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after acquiring an additional 279 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in 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. Arizona State Retirement System raised its stake in Skyward Specialty Insurance Group by 24.2% in the second quarter. Arizona State Retirement System now owns 9,516 shares of the company’s stock worth $344,000 after buying an additional 1,854 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Skyward Specialty Insurance Group by 67.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock worth $204,000 after buying an additional 2,270 shares during the period. Finally, Diversified Trust Co boosted its position in Skyward Specialty Insurance Group by 26.3% during the 1st quarter. Diversified Trust Co now owns 11,775 shares of the company’s stock valued at $441,000 after acquiring an additional 2,450 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Trading Up 1.9 %

Shares of SKWD stock opened at $41.16 on Thursday. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 0.73 and a beta of 0.60. Skyward Specialty Insurance Group has a 12-month low of $26.81 and a 12-month high of $42.26. The stock’s 50-day moving average price is $39.04 and its 200-day moving average price is $37.24.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Monday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.15. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. The business had revenue of $279.94 million for the quarter, compared to the consensus estimate of $282.70 million. During the same quarter in the previous year, the company posted $0.42 EPS. As a group, research analysts predict that Skyward Specialty Insurance Group will post 2.96 EPS for the current fiscal year.

Skyward Specialty Insurance Group Company Profile

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.