Barclays Raises Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $45.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price boosted by Barclays from $44.00 to $45.00 in a report issued on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also commented on SKWD. Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. JMP Securities reiterated a “market outperform” rating and set a $50.00 price target on shares of Skyward Specialty Insurance Group in a report on Tuesday, October 15th. Truist Financial reissued a “buy” rating and set a $49.00 price target (up from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. Oppenheimer started coverage on Skyward Specialty Insurance Group in a research report on Friday, July 12th. They set a “market perform” rating for the company. Finally, Jefferies Financial Group upped their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and an average price target of $45.22.

Skyward Specialty Insurance Group Stock Down 1.2 %

Shares of Skyward Specialty Insurance Group stock opened at $43.70 on Wednesday. Skyward Specialty Insurance Group has a 12-month low of $27.56 and a 12-month high of $48.40. The firm has a market capitalization of $1.75 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 0.82 and a beta of 0.53. The stock’s fifty day moving average is $42.39 and its 200-day moving average is $38.72.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.06. Skyward Specialty Insurance Group had a return on equity of 17.01% and a net margin of 12.24%. The firm had revenue of $300.89 million for the quarter, compared to the consensus estimate of $292.43 million. During the same quarter in the previous year, the company earned $0.65 EPS. Analysts expect that Skyward Specialty Insurance Group will post 2.98 EPS for the current year.

Insider Transactions at Skyward Specialty Insurance Group

In related news, Director Katharine Terry sold 1,653 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $36.87, for a total value of $60,946.11. Following the completion of the sale, the director now directly owns 4,001 shares in the company, valued at approximately $147,516.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 8.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of institutional investors have recently made changes to their positions in SKWD. Capital International Investors grew its holdings in Skyward Specialty Insurance Group by 48.0% in the 1st quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock valued at $82,767,000 after buying an additional 717,972 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Skyward Specialty Insurance Group in the second quarter worth $10,152,000. Dimensional Fund Advisors LP bought a new position in Skyward Specialty Insurance Group during the second quarter worth $8,151,000. Vanguard Group Inc. raised its stake in Skyward Specialty Insurance Group by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock valued at $76,458,000 after purchasing an additional 207,744 shares during the last quarter. Finally, Mutual of America Capital Management LLC bought a new stake in Skyward Specialty Insurance Group in the 2nd quarter valued at $6,568,000. 94.83% of the stock is currently owned by 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.