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

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $71.44.

A number of research firms have recently commented on SKWD. Barclays upped their price target on shares of Skyward Specialty Insurance Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday. Weiss Ratings lowered shares of Skyward Specialty Insurance Group from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 30th. TD Cowen boosted their price objective on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, August 11th. Citigroup restated a “market outperform” rating on shares of Skyward Specialty Insurance Group in a research note on Monday, October 12th. Finally, Wall Street Zen upgraded shares of Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a research note on Sunday, October 18th.

Institutional Trading of Skyward Specialty Insurance Group

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Skyward Specialty Insurance Group in the second quarter worth $214,576,000. Aberdeen Group plc increased its position in shares of Skyward Specialty Insurance Group by 232.6% during the third quarter. Aberdeen Group plc now owns 1,173,935 shares of the company’s stock worth $57,194,000 after purchasing an additional 821,028 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of Skyward Specialty Insurance Group by 198.5% during 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. Freestone Grove Partners LP purchased a new stake in shares of Skyward Specialty Insurance Group during the 2nd quarter valued at $21,142,000. Finally, Sei Investments Co. lifted its holdings in shares of Skyward Specialty Insurance Group by 397.5% during the 1st quarter. Sei Investments Co. now owns 433,298 shares of the company’s stock valued at $18,926,000 after purchasing an additional 346,202 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Trending Headlines about Skyward Specialty Insurance Group

Here are the key news stories impacting Skyward Specialty Insurance Group this week:

• Positive Sentiment: Skyward earned $1.28 per share, above the $1.22 consensus and up from $1.05 a year earlier. Barclays raised its price target to $71 from $68 and kept an “overweight” rating, signaling confidence in further upside. Q3 earnings beat estimates Barclays target increase
• Neutral Sentiment: Despite the earnings beat, an article cautioned that SKWD could be trading above fair value, suggesting valuation may limit gains even as quarterly results were strong. Valuation and Q3 results
• Negative Sentiment: Revenue was reported at $455.34 million, well below analyst estimates of about $753.9 million. That sizable sales shortfall could overshadow the EPS beat and contribute to pressure on the stock. Q3 sales miss

Skyward Specialty Insurance Group Trading Down 5.5%

Shares of NASDAQ:SKWD opened at $60.35 on Tuesday. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 14.10 and a beta of 0.32. Skyward Specialty Insurance Group has a 12 month low of $40.60 and a 12 month high of $65.69. The firm’s 50-day moving average is $57.99 and its 200 day moving average is $52.00.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Thursday, November 5th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Skyward Specialty Insurance Group had a return on equity of 19.14% and a net margin of 10.62%. The firm had revenue of $455.34 million during the quarter, compared to analyst estimates of $753.93 million. As a group, equities analysts forecast that Skyward Specialty Insurance Group will post 5.00 EPS for the current fiscal year.

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 organizations that may be underserved by the standard insurance market.

Its offerings include excess and surplus lines insurance, professional liability, healthcare liability, workers’ compensation, surety, commercial property and casualty coverage, specialty programs, and accident and health products.