Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock Has Average Target Price of $71.11

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $71.11.

SKWD has been the subject of a number of recent analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Skyward Specialty Insurance Group in a report on Monday. Truist Financial boosted their price objective on Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods increased their target price on Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Barclays increased their target price on Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Skyward Specialty Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday.

Skyward Specialty Insurance Group Trading Up 1.4%

Shares of Skyward Specialty Insurance Group stock opened at $60.18 on Friday. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 14.03 and a beta of 0.37. The firm’s 50-day moving average price is $57.38 and its two-hundred day moving average price is $53.30. Skyward Specialty Insurance Group has a 1-year low of $40.60 and a 1-year high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, August 4th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The company had revenue of $489.53 million during the quarter, compared to analysts’ expectations of $706.59 million. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 18.72%. As a group, equities research analysts predict that Skyward Specialty Insurance Group will post 5.00 EPS for the current year.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Skyward Specialty Insurance Group during the 2nd quarter worth about $214,576,000. Reinhart Partners LLC. lifted its position in Skyward Specialty Insurance Group by 4.1% during the 2nd quarter. Reinhart Partners LLC. now owns 2,894,407 shares of the company’s stock valued at $168,889,000 after purchasing an additional 113,623 shares during the period. Wasatch Advisors LP boosted its stake in shares of Skyward Specialty Insurance Group by 198.5% in the 2nd quarter. Wasatch Advisors LP now owns 954,489 shares of the company’s stock valued at $55,694,000 after purchasing an additional 634,708 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Skyward Specialty Insurance Group by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 854,789 shares of the company’s stock valued at $37,337,000 after purchasing an additional 36,997 shares during the last quarter. Finally, GW&K Investment Management LLC grew its position in shares of Skyward Specialty Insurance Group by 68.5% during the 4th quarter. GW&K Investment Management LLC now owns 604,678 shares of the company’s stock worth $30,905,000 after buying an additional 245,799 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc is a specialty property and casualty insurance company headquartered in Houston, Texas. Through its insurance subsidiaries, the company provides customized coverage for businesses and other commercial policyholders, focusing on risks that may require specialized underwriting and claims expertise.

Its products and programs include commercial property and casualty insurance, workers’ compensation, commercial auto, general and professional liability, excess and surplus lines, healthcare-related coverage, surety, and other specialty insurance solutions.