Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives $56.25 Average Price Target from Brokerages

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. 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. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $55.63.

A number of analysts recently issued reports on the stock. Wolfe Research reissued a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Keefe, Bruyette & Woods cut their target price on shares of Skyward Specialty Insurance Group from $62.00 to $57.00 and set an “outperform” rating on the stock in a research note on Wednesday. Truist Financial upped their price target on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a “hold” rating and a $43.00 target price for the company. Finally, JMP Securities restated a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th.

Insider Transactions at Skyward Specialty Insurance Group

In related news, Director Gena L. Ashe sold 1,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.62, for a total value of $50,620.00. Following the completion of the sale, the director now directly owns 734 shares of the company’s stock, valued at approximately $37,155.08. This represents a 57.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas N. Schmitt sold 6,300 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $51.92, for a total value of $327,096.00. Following the completion of the transaction, the insider now owns 3,946 shares in the company, valued at $204,876.32. This represents a 61.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,132 shares of company stock valued at $620,476 in the last three months. 8.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of SKWD. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Skyward Specialty Insurance Group by 19.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,727 shares of the company’s stock valued at $274,000 after purchasing an additional 1,095 shares in the last quarter. IHT Wealth Management LLC boosted its stake in Skyward Specialty Insurance Group by 4.6% during the 3rd quarter. IHT Wealth Management LLC now owns 10,501 shares of the company’s stock valued at $428,000 after purchasing an additional 464 shares during the period. Quarry LP increased its position in Skyward Specialty Insurance Group by 176.9% during the third quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after acquiring an additional 879 shares during the period. State Street Corp lifted its stake in shares of Skyward Specialty Insurance Group by 10.8% in the third quarter. State Street Corp now owns 844,233 shares of the company’s stock valued at $34,386,000 after buying an additional 82,328 shares during the period. Finally, Two Sigma Advisers LP lifted its position in Skyward Specialty Insurance Group by 15.3% in the third quarter. Two Sigma Advisers LP now owns 490,200 shares of the company’s stock worth $19,966,000 after purchasing an additional 65,200 shares during the period. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Trading Up 5.1 %

NASDAQ SKWD opened at $51.75 on Monday. The company has a market capitalization of $2.09 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.81 and a beta of 0.63. The business’s 50-day moving average price is $50.33 and its 200 day moving average price is $48.34. Skyward Specialty Insurance Group has a twelve month low of $33.27 and a twelve month high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $304.40 million for the quarter, compared to the consensus estimate of $295.56 million. Equities analysts predict that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

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.