Skyward Specialty Insurance Group (NASDAQ:SKWD) Given New $47.00 Price Target at Truist Financial

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price raised by Truist Financial from $44.00 to $47.00 in a research note issued to investors on Friday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

SKWD has been the topic of a number of other reports. Keefe, Bruyette & Woods upped their price target on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an outperform rating in a research note on Wednesday, April 10th. Wolfe Research began coverage on Skyward Specialty Insurance Group in a report on Thursday, January 11th. They issued an outperform rating and a $39.00 target price for the company. Piper Sandler raised their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an overweight rating in a report on Monday, April 1st. JMP Securities raised their price target on Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the company a market outperform rating in a report on Thursday. Finally, BMO Capital Markets increased their target price on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a market perform rating in a report on Monday, February 26th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $40.56.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ:SKWD traded up $1.81 during trading on Friday, hitting $37.58. The company’s stock had a trading volume of 437,313 shares, compared to its average volume of 299,778. The company has a market capitalization of $1.50 billion, a PE ratio of 13.82 and a beta of 0.68. Skyward Specialty Insurance Group has a fifty-two week low of $21.21 and a fifty-two week high of $38.64. The stock’s 50-day moving average price is $36.25 and its two-hundred day moving average price is $33.31.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. The business had revenue of $264.97 million during the quarter, compared to the consensus estimate of $251.66 million. Skyward Specialty Insurance Group had a return on equity of 16.81% and a net margin of 11.16%. During the same period in the previous year, the firm posted $0.42 earnings per share. On average, equities analysts predict that Skyward Specialty Insurance Group will post 2.64 earnings per share for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In other news, CFO Mark W. Haushill sold 35,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $35.96, for a total value of $1,258,600.00. Following the completion of the sale, the chief financial officer now directly owns 261,688 shares of the company’s stock, valued at approximately $9,410,300.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the transaction, the chief financial officer now directly owns 261,688 shares in the company, valued at $9,410,300.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew S. Robinson sold 13,374 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $35.70, for a total value of $477,451.80. Following the completion of the transaction, the chief executive officer now owns 96,883 shares of the company’s stock, valued at $3,458,723.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,890 shares of company stock worth $3,533,839. 8.01% of the stock is owned by insiders.

Institutional Trading of Skyward Specialty Insurance Group

A number of institutional investors have recently modified their holdings of SKWD. Bank of New York Mellon Corp raised its holdings in shares of Skyward Specialty Insurance Group by 208.9% in the third quarter. Bank of New York Mellon Corp now owns 91,346 shares of the company’s stock valued at $2,499,000 after purchasing an additional 61,772 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Skyward Specialty Insurance Group during the third quarter worth about $306,000. Allspring Global Investments Holdings LLC acquired a new position in Skyward Specialty Insurance Group during the third quarter valued at approximately $3,296,000. Jennison Associates LLC grew its stake in Skyward Specialty Insurance Group by 35.2% in the third quarter. Jennison Associates LLC now owns 1,356,301 shares of the company’s stock valued at $37,108,000 after purchasing an additional 352,971 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Skyward Specialty Insurance Group during the 3rd quarter worth approximately $957,000. 94.83% of the stock is currently owned by institutional investors.

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.