Raymond James Forecasts Strong Price Appreciation for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target boosted by Raymond James from $45.00 to $55.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a strong-buy rating on the stock.

SKWD has been the topic of a number of other reports. Jefferies Financial Group increased their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JMP Securities lifted their price target on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Oppenheimer initiated coverage on shares of Skyward Specialty Insurance Group in a report on Friday, July 12th. They issued a “market perform” rating for the company. William Blair started coverage on Skyward Specialty Insurance Group in a report on Monday, August 19th. They set an “outperform” rating on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $46.89.

Skyward Specialty Insurance Group Price Performance

SKWD opened at $44.35 on Tuesday. The firm has a 50 day simple moving average of $42.46 and a 200 day simple moving average of $38.81. Skyward Specialty Insurance Group has a fifty-two week low of $27.56 and a fifty-two week high of $48.40. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.06. The business had revenue of $300.89 million for the quarter, compared to analyst estimates of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 17.01% and a net margin of 12.24%. During the same period last year, the company earned $0.65 EPS. As a group, analysts expect that Skyward Specialty Insurance Group will post 3.06 EPS for the current year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $36.87, for a total value of $60,946.11. Following the sale, the director now directly owns 4,001 shares in the company, valued at $147,516.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds have recently modified their holdings of SKWD. Capital International Investors boosted its position in Skyward Specialty Insurance Group by 48.0% during the first quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock valued at $82,767,000 after purchasing an additional 717,972 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Skyward Specialty Insurance Group by 11.3% in the first quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock valued at $76,458,000 after buying an additional 207,744 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in Skyward Specialty Insurance Group by 0.3% during the first quarter. Champlain Investment Partners LLC now owns 1,405,980 shares of the company’s stock worth $52,598,000 after buying an additional 4,510 shares during the last quarter. Driehaus Capital Management LLC raised its position in Skyward Specialty Insurance Group by 2.8% during the second quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company’s stock worth $45,528,000 after acquiring an additional 34,286 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Skyward Specialty Insurance Group by 9.2% in the second quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock valued at $33,269,000 after acquiring an additional 77,354 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.

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.