Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives $61.75 Average PT from Brokerages

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $61.75.

A number of equities analysts have commented on SKWD shares. Wolfe Research reissued a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Barclays lifted their price target on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday, April 11th. Jefferies Financial Group cut Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $62.00 to $59.00 in a report on Friday, April 11th. Truist Financial lifted their target price on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Finally, Piper Sandler lifted their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th.

Insider Buying and Selling at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 52,748 shares of the business’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $58.76, for a total transaction of $3,099,472.48. Following the completion of the transaction, the chief financial officer now owns 133,629 shares in the company, valued at $7,852,040.04. The trade was a 28.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Kirby Hill sold 8,249 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total transaction of $502,116.63. Following the sale, the chairman now directly owns 8,249 shares of the company’s stock, valued at $502,116.63. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.01% of the company’s stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several large investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its holdings 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 worth $46,000 after buying an additional 809 shares during the period. LRI Investments LLC purchased a new stake in Skyward Specialty Insurance Group in the first quarter worth about $67,000. KBC Group NV purchased a new stake in Skyward Specialty Insurance Group in the first quarter worth about $81,000. ORG Wealth Partners LLC lifted its stake in Skyward Specialty Insurance Group by 86.9% in the first quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company’s stock worth $123,000 after acquiring an additional 1,057 shares during the period. Finally, State of Wyoming lifted its stake in Skyward Specialty Insurance Group by 52.4% in the first quarter. State of Wyoming now owns 2,435 shares of the company’s stock worth $129,000 after acquiring an additional 837 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Price Performance

NASDAQ SKWD opened at $56.22 on Friday. The business has a 50 day simple moving average of $58.98 and a two-hundred day simple moving average of $52.59. Skyward Specialty Insurance Group has a 1-year low of $34.10 and a 1-year high of $65.05. The stock has a market capitalization of $2.27 billion, a PE ratio of 18.74 and a beta of 0.79.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Skyward Specialty Insurance Group had a net margin of 10.23% and a return on equity of 16.80%. The firm had revenue of $328.53 million during the quarter, compared to analyst estimates of $310.94 million. During the same period last year, the firm posted $0.75 earnings per share. On average, analysts anticipate that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

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.