Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives $46.89 Consensus PT from Brokerages

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $46.89.

A number of research analysts have recently commented on the stock. JMP Securities boosted their price target on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Barclays boosted their target price on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price target 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. Finally, Raymond James boosted their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 5th.

Skyward Specialty Insurance Group Stock Down 1.5 %

SKWD stock opened at $50.04 on Friday. The stock has a 50-day simple moving average of $49.98 and a two-hundred day simple moving average of $42.89. Skyward Specialty Insurance Group has a twelve month low of $29.40 and a twelve month high of $55.62. The firm has a market capitalization of $2.01 billion, a PE ratio of 15.26, a PEG ratio of 0.95 and a beta of 0.76.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. The company 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 quarter in the previous year, the company earned $0.65 earnings per share. On average, equities research analysts anticipate that Skyward Specialty Insurance Group will post 3.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, Director James Charles Hays sold 25,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total value of $1,350,000.00. Following the completion of the sale, the director now directly owns 747,261 shares of the company’s stock, valued at $40,352,094. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SKWD. Principal Financial Group Inc. increased its stake in shares of Skyward Specialty Insurance Group by 49.8% in the third quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock worth $4,240,000 after buying an additional 34,612 shares during the period. Barclays PLC grew its holdings in Skyward Specialty Insurance Group by 277.7% in the 3rd quarter. Barclays PLC now owns 64,032 shares of the company’s stock worth $2,608,000 after acquiring an additional 47,081 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Skyward Specialty Insurance Group in the second quarter valued at about $10,152,000. Navellier & Associates Inc. bought a new position in shares of Skyward Specialty Insurance Group during the third quarter valued at about $1,051,000. Finally, State Street Corp boosted its holdings in shares of Skyward Specialty Insurance Group by 10.8% during the third quarter. State Street Corp now owns 844,233 shares of the company’s stock worth $34,386,000 after purchasing an additional 82,328 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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.