Skyward Specialty Insurance Group (NASDAQ:SKWD) PT Raised to $42.00 at JMP Securities

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target boosted by investment analysts at JMP Securities from $40.00 to $42.00 in a report released on Monday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective points to a potential upside of 18.01% from the stock’s previous close.

SKWD has been the topic of several other reports. Truist Financial lifted their price objective on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. BMO Capital Markets raised their target price on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a report on Monday, February 26th. Keefe, Bruyette & Woods raised their target price on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Wolfe Research started 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. Finally, Piper Sandler raised their target price on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a 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 issued a strong buy rating to the stock. According to MarketBeat, Skyward Specialty Insurance Group presently has a consensus rating of “Buy” and a consensus target price of $39.89.

Skyward Specialty Insurance Group Price Performance

NASDAQ SKWD opened at $35.59 on Monday. The firm has a market capitalization of $1.42 billion, a P/E ratio of 15.89 and a beta of 0.45. Skyward Specialty Insurance Group has a 1-year low of $20.81 and a 1-year high of $38.64. The business’s 50-day simple moving average is $35.56 and its 200-day simple moving average is $32.73.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. The business had revenue of $321.60 million for the quarter, compared to analyst estimates of $320.34 million. Skyward Specialty Insurance Group had a return on equity of 14.31% and a net margin of 9.56%. The company’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. On average, equities research analysts expect that Skyward Specialty Insurance Group will post 2.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 261,688 shares in the company, valued at approximately $9,410,300.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 261,688 shares in the company, valued at approximately $9,410,300.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Haushill sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $35.58, for a total value of $889,500.00. Following the completion of the sale, the chief financial officer now owns 236,688 shares of the company’s stock, valued at $8,421,359.04. The disclosure for this sale can be found here. Insiders have sold 98,890 shares of company stock worth $3,533,839 in the last three months. 8.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Skyward Specialty Insurance Group by 109.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company’s stock valued at $41,390,000 after acquiring an additional 790,826 shares during the last quarter. Redwood Investments LLC bought a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter valued at approximately $2,890,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at approximately $396,000. ClariVest Asset Management LLC bought a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at approximately $1,106,000. Finally, Barclays PLC increased its holdings in shares of Skyward Specialty Insurance Group by 263.2% in the 3rd quarter. Barclays PLC now owns 16,494 shares of the company’s stock valued at $451,000 after acquiring an additional 11,953 shares during the last quarter. 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.