Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Increased to $45.00 by Analysts at JMP Securities

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target raised by JMP Securities from $42.00 to $45.00 in a research note released on Thursday, Benzinga reports. They currently have a market outperform rating on the stock.

Other research analysts also recently issued research reports about the company. Wolfe Research initiated coverage on Skyward Specialty Insurance Group in a report on Thursday, January 11th. They set an outperform rating and a $39.00 target price on the stock. Truist Financial boosted their target price on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Keefe, Bruyette & Woods upped their price objective on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an outperform rating in a research report on Wednesday, April 10th. BMO Capital Markets increased their price objective on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a market perform rating in a research report on Monday, February 26th. Finally, Piper Sandler boosted their target price on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an overweight rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of Buy and a consensus price target of $40.56.

Skyward Specialty Insurance Group Stock Up 5.1 %

Shares of SKWD traded up $1.81 during mid-day trading on Thursday, hitting $37.58. 437,313 shares of the company’s stock traded hands, compared to its average volume of 315,830. The business’s 50-day moving average price is $36.20 and its 200-day moving average price is $33.25. Skyward Specialty Insurance Group has a 1 year low of $21.21 and a 1 year high of $38.64. The firm has a market capitalization of $1.50 billion, a P/E ratio of 13.82 and a beta of 0.68.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 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 analyst estimates of $251.66 million. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 16.81%. During the same period in the prior year, the business earned $0.42 EPS. Sell-side analysts anticipate that Skyward Specialty Insurance Group will post 2.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Andrew S. Robinson sold 12,109 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $35.56, for a total transaction of $430,596.04. Following the completion of the sale, the chief executive officer now owns 74,533 shares of the company’s stock, valued at approximately $2,650,393.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Andrew S. Robinson sold 12,109 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $35.56, for a total value of $430,596.04. Following the completion of the sale, the chief executive officer now directly owns 74,533 shares in the company, valued at approximately $2,650,393.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark W. Haushill sold 35,000 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 261,688 shares in the company, valued at $9,410,300.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,890 shares of company stock valued at $3,533,839. Insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wakefield Asset Management LLLP purchased a new position in Skyward Specialty Insurance Group during the first quarter valued at approximately $952,000. Capstone Investment Advisors LLC increased its stake in Skyward Specialty Insurance Group by 68.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 107,796 shares of the company’s stock worth $4,033,000 after buying an additional 43,739 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Skyward Specialty Insurance Group by 19.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock valued at $17,383,000 after acquiring an additional 75,137 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Skyward Specialty Insurance Group in the first quarter valued at about $1,672,000. Finally, Wasatch Advisors LP boosted its stake in shares of Skyward Specialty Insurance Group by 5.9% in the first quarter. Wasatch Advisors LP now owns 276,494 shares of the company’s stock worth $10,344,000 after acquiring an additional 15,407 shares during the period. 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.