Keefe, Bruyette & Woods Increases Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $60.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price raised by investment analysts at Keefe, Bruyette & Woods from $59.00 to $60.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 24.39% from the stock’s current price.

A number of other brokerages have also recently weighed in on SKWD. Piper Sandler decreased their price objective on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday. JMP Securities upped their target price on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Raymond James upped their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 5th. TD Cowen began coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 target price for the company. Finally, Jefferies Financial Group increased their price objective on 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. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.67.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ SKWD traded up $0.33 during mid-day trading on Thursday, hitting $48.24. 73,317 shares of the stock traded hands, compared to its average volume of 403,602. Skyward Specialty Insurance Group has a twelve month low of $29.76 and a twelve month high of $55.62. The firm has a 50 day simple moving average of $48.27 and a two-hundred day simple moving average of $44.62. The company has a market cap of $1.93 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 0.73 and a beta of 0.84.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director James Charles Hays sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total value of $1,350,000.00. Following the completion of the transaction, the director now directly owns 747,261 shares in the company, valued at $40,352,094. This trade represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sandip A. Kapadia sold 908 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.98, for a total value of $42,657.84. Following the completion of the sale, the executive vice president now owns 10,371 shares in the company, valued at approximately $487,229.58. This represents a 8.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,318 shares of company stock worth $2,098,866. 8.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of institutional investors have recently modified their holdings of SKWD. Arcadia Investment Management Corp MI purchased a new position in Skyward Specialty Insurance Group during the third quarter valued at approximately $41,000. Quarry LP boosted its holdings in Skyward Specialty Insurance Group by 176.9% during the third quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after buying an additional 879 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth about $61,000. CWM LLC increased its position in shares of Skyward Specialty Insurance Group by 3,103.1% in the third quarter. CWM LLC now owns 4,132 shares of the company’s stock valued at $168,000 after buying an additional 4,003 shares in the last quarter. Finally, Pinnacle Financial Partners Inc purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter worth $220,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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.