Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $43.78.

A number of research firms have recently commented on SKWD. William Blair began coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They set an “outperform” rating on the stock. JMP Securities raised their target price on shares of Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 6th. Truist Financial reiterated a “buy” rating and issued a $49.00 price target (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. Keefe, Bruyette & Woods increased their price objective on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Finally, Barclays assumed coverage on Skyward Specialty Insurance Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $44.00 target price on the stock.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $36.87, for a total value of $60,946.11. Following the transaction, the director now directly owns 4,001 shares of the company’s stock, valued at $147,516.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SKWD. Amalgamated Bank increased its stake in shares of Skyward Specialty Insurance Group by 27.7% during the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after purchasing an additional 279 shares during the period. Ameritas Investment Partners Inc. increased its position in Skyward Specialty Insurance Group by 24.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock worth $111,000 after buying an additional 579 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Skyward Specialty Insurance Group during the second quarter worth $160,000. ProShare Advisors LLC bought a new stake in shares of Skyward Specialty Insurance Group in the first quarter valued at about $200,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Skyward Specialty Insurance Group by 67.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock valued at $204,000 after acquiring an additional 2,270 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

Skyward Specialty Insurance Group Stock Performance

SKWD opened at $41.21 on Thursday. The company has a fifty day moving average price of $39.11 and a two-hundred day moving average price of $37.31. The firm has a market capitalization of $1.65 billion, a PE ratio of 15.15, a P/E/G ratio of 0.77 and a beta of 0.60. Skyward Specialty Insurance Group has a 52 week low of $26.81 and a 52 week high of $42.26.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Monday, August 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.15. The company had revenue of $279.94 million for the quarter, compared to analyst estimates of $282.70 million. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. During the same period last year, the business posted $0.42 earnings per share. Equities analysts forecast that Skyward Specialty Insurance Group will post 2.96 EPS for the current year.

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.