Piper Sandler Has Lowered Expectations for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price reduced by analysts at Piper Sandler from $58.00 to $57.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 18.97% from the company’s current price.

Other analysts also recently issued research reports about the company. Jefferies Financial Group boosted their price objective on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 price target for the company. JMP Securities lifted their price objective 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 increased their target price on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 5th. Finally, Barclays lifted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Four 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.22.

Skyward Specialty Insurance Group Price Performance

NASDAQ SKWD opened at $47.91 on Thursday. Skyward Specialty Insurance Group has a 12 month low of $29.49 and a 12 month high of $55.62. The firm has a market capitalization of $1.92 billion, a PE ratio of 14.61, a P/E/G ratio of 0.73 and a beta of 0.84. The company’s 50 day simple moving average is $48.27 and its 200 day simple moving average is $44.62.

Insider Activity

In related news, CFO Mark W. Haushill sold 1,630 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $49.06, for a total transaction of $79,967.80. Following the completion of the sale, the chief financial officer now directly owns 176,971 shares in the company, valued at approximately $8,682,197.26. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas N. Schmitt sold 637 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $47.81, for a total transaction of $30,454.97. Following the completion of the transaction, the insider now owns 10,792 shares in the company, valued at approximately $515,965.52. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,318 shares of company stock worth $2,098,866 over the last quarter. Corporate insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

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