Skyward Specialty Insurance Group (NASDAQ:SKWD) Lowered to “Hold” Rating by Jefferies Financial Group

Jefferies Financial Group cut shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) from a buy rating to a hold rating in a report published on Friday morning, MarketBeat.com reports. The brokerage currently has $59.00 target price on the stock, down from their prior target price of $62.00.

Several other equities research analysts also recently issued reports on SKWD. Barclays raised Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $53.00 to $63.00 in a report on Friday, March 14th. TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 price target on the stock. Wolfe Research restated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Truist Financial upped their target price on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, JMP Securities reissued a “market outperform” rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Skyward Specialty Insurance Group Price Performance

Skyward Specialty Insurance Group stock opened at $52.53 on Friday. The company’s 50-day moving average is $50.56 and its 200-day moving average is $48.55. The firm has a market capitalization of $2.12 billion, a PE ratio of 16.02, a P/E/G ratio of 0.81 and a beta of 0.63. Skyward Specialty Insurance Group has a fifty-two week low of $33.27 and a fifty-two week high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced 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 return on equity of 16.39% and a net margin of 12.24%. The firm had revenue of $304.40 million for the quarter, compared to the consensus estimate of $295.56 million. As a group, analysts expect that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, insider John A. Burkhart III sold 4,832 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the transaction, the insider now directly owns 17,655 shares of the company’s stock, valued at $886,987.20. This trade represents a 21.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas N. Schmitt sold 6,300 shares of the business’s stock in a transaction that occurred on 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 owns 3,946 shares of the company’s stock, valued at $204,876.32. The trade was a 61.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,132 shares of company stock worth $620,476 in the last 90 days. Company insiders own 8.01% of the company’s stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its stake in shares of Skyward Specialty Insurance Group by 756.1% in the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after purchasing an additional 809 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Skyward Specialty Insurance Group in the fourth quarter valued at about $61,000. Summit Investment Advisors Inc. grew its position in Skyward Specialty Insurance Group by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after acquiring an additional 247 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Skyward Specialty Insurance Group during the fourth quarter worth about $219,000. Finally, Pinnacle Financial Partners Inc bought a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth about $220,000. 94.83% of the stock is currently 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.