Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Rating Upgraded by Barclays

Barclays upgraded shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) from an equal weight rating to an overweight rating in a report published on Friday morning, Marketbeat reports. They currently have $63.00 target price on the stock, up from their previous target price of $53.00.

Several other equities analysts have also issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. TD Cowen assumed coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 price objective on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Truist Financial lifted their target price on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Keefe, Bruyette & Woods increased their price target on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Three investment 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. According to MarketBeat, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and a consensus price target of $56.25.

Skyward Specialty Insurance Group Price Performance

Skyward Specialty Insurance Group stock opened at $49.78 on Friday. The stock’s 50 day moving average is $47.38 and its 200 day moving average is $46.89. Skyward Specialty Insurance Group has a one year low of $33.27 and a one year high of $55.62. The firm has a market cap of $2.00 billion, a P/E ratio of 15.18, a P/E/G ratio of 0.81 and a beta of 0.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The firm had revenue of $304.40 million during the quarter, compared to analyst estimates of $295.56 million. Equities analysts anticipate that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Thomas N. Schmitt sold 6,300 shares of Skyward Specialty Insurance Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the completion of the transaction, the insider now directly owns 3,946 shares in the company, valued at $204,876.32. This trade represents a 61.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew S. Robinson sold 6,010 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total transaction of $296,713.70. Following the completion of the sale, the chief executive officer now owns 77,144 shares in the company, valued at $3,808,599.28. This represents a 7.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,450 shares of company stock worth $1,369,342 over the last quarter. 8.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SKWD. Capital World Investors bought a new stake in Skyward Specialty Insurance Group during the fourth quarter worth $41,182,000. American Century Companies Inc. boosted its holdings in Skyward Specialty Insurance Group by 54.0% during the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock worth $79,744,000 after acquiring an additional 553,389 shares during the last quarter. WCM Investment Management LLC bought a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth $18,084,000. Swedbank AB purchased a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $15,164,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Skyward Specialty Insurance Group by 37.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company’s stock valued at $52,995,000 after purchasing an additional 283,749 shares in the last quarter. Institutional investors 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.