Skyward Specialty Insurance Group (NASDAQ:SKWD) Reaches New 1-Year High – Here’s What Happened

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)’s share price hit a new 52-week high on Friday . The stock traded as high as $50.53 and last traded at $50.53, with a volume of 10741 shares. The stock had previously closed at $49.73.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SKWD shares. William Blair started coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, August 19th. They set an “outperform” rating on the stock. Jefferies Financial Group increased their price target on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Truist Financial reaffirmed a “buy” rating and issued a $49.00 price objective (up from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. JMP Securities increased their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Finally, Piper Sandler boosted their price target on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.89.

Skyward Specialty Insurance Group Stock Up 0.4 %

The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 0.90 and a beta of 0.53. The company has a 50 day simple moving average of $43.70 and a 200 day simple moving average of $39.46.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The business had revenue of $300.89 million during the quarter, compared to analysts’ expectations of $292.43 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same period in the prior year, the company earned $0.65 EPS. As a group, analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently bought and sold shares of SKWD. Arcadia Investment Management Corp MI bought a new position in Skyward Specialty Insurance Group in the 3rd quarter valued at approximately $41,000. Amalgamated Bank raised its stake in shares of Skyward Specialty Insurance Group by 27.7% during the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after acquiring an additional 279 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings 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 worth $111,000 after purchasing an additional 579 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Skyward Specialty Insurance Group in the second quarter worth $160,000. Finally, CWM LLC increased its holdings in Skyward Specialty Insurance Group by 3,103.1% in the third quarter. CWM LLC now owns 4,132 shares of the company’s stock valued at $168,000 after purchasing an additional 4,003 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.