Barclays Boosts Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $53.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price upped by investment analysts at Barclays from $45.00 to $53.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 16.43% from the stock’s current price.

A number of other research firms have also weighed in on SKWD. Jefferies Financial Group boosted their target price on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JMP Securities boosted their price objective on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Finally, Raymond James raised their target price on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.78.

Skyward Specialty Insurance Group Stock Up 1.0 %

NASDAQ SKWD opened at $45.52 on Monday. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89. Skyward Specialty Insurance Group has a twelve month low of $29.40 and a twelve month high of $55.62. The business’s fifty day moving average is $50.25 and its 200 day moving average is $43.56.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The firm had revenue of $300.89 million for the quarter, compared to analyst estimates of $292.43 million. During the same period last year, the firm posted $0.65 earnings per share. On average, research analysts anticipate that Skyward Specialty Insurance Group will post 3.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 6,010 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total value of $296,713.70. Following the transaction, the chief executive officer now directly owns 77,144 shares of the company’s stock, valued at approximately $3,808,599.28. The trade was a 7.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Charles Hays sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the sale, the director now directly owns 747,261 shares of the company’s stock, valued at approximately $40,352,094. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,056 shares of company stock valued at $2,086,938. 8.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI acquired a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at about $41,000. Amalgamated Bank boosted its holdings in Skyward Specialty Insurance Group by 27.7% in the second 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. Quarry LP grew its stake in Skyward Specialty Insurance Group by 176.9% in the third quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after acquiring an additional 879 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Skyward Specialty Insurance Group during the second quarter valued at approximately $160,000. Finally, CWM LLC raised its position in shares of Skyward Specialty Insurance Group by 3,103.1% during the third quarter. CWM LLC now owns 4,132 shares of the company’s stock worth $168,000 after purchasing an additional 4,003 shares during the period. 94.83% of the stock is 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.