Truist Financial Forecasts Strong Price Appreciation for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective lifted by Truist Financial from $61.00 to $70.00 in a research report report published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities analysts have also weighed in on SKWD. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. JMP Securities increased their price target on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a report on Friday, May 2nd. Jefferies Financial Group downgraded Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $62.00 to $59.00 in a report on Friday, April 11th. Piper Sandler cut their target price on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a “hold” rating and a $43.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued 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 price target of $59.88.

Skyward Specialty Insurance Group Trading Up 1.1 %

Shares of SKWD stock opened at $58.90 on Monday. The stock has a 50-day moving average of $52.40 and a 200-day moving average of $49.91. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group has a 1-year low of $33.42 and a 1-year high of $60.40.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. The firm had revenue of $328.53 million during the quarter, compared to analyst estimates of $310.94 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same quarter last year, the business earned $0.75 EPS. Sell-side analysts forecast that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current year.

Insider Transactions at Skyward Specialty Insurance Group

In related news, Director Gena L. Ashe sold 1,000 shares of Skyward Specialty Insurance Group stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total transaction of $50,620.00. Following the sale, the director now directly owns 734 shares in the company, valued at approximately $37,155.08. This trade represents a 57.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John A. Burkhart III sold 4,832 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold a total of 12,132 shares of company stock worth $620,476 in the last quarter. 8.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SKWD. Barclays PLC raised its holdings in shares of Skyward Specialty Insurance Group by 277.7% in the 3rd quarter. Barclays PLC now owns 64,032 shares of the company’s stock worth $2,608,000 after purchasing an additional 47,081 shares during the period. Franklin Resources Inc. raised its stake in shares of Skyward Specialty Insurance Group by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock valued at $45,506,000 after buying an additional 158,679 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Skyward Specialty Insurance Group by 32.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company’s stock valued at $3,515,000 after buying an additional 21,346 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Skyward Specialty Insurance Group by 2.4% during the 4th quarter. Nordea Investment Management AB now owns 64,321 shares of the company’s stock worth $3,248,000 after acquiring an additional 1,523 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter worth about $61,000. 94.83% of the stock is currently owned by hedge funds and other 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.