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

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $56.25.

SKWD has been the subject of a number of research reports. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 price objective for the company. JMP Securities reissued a “market outperform” rating and set a $60.00 target price on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Barclays raised Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $53.00 to $63.00 in a research note on Friday. Truist Financial boosted their target price on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th.

Insider Activity

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 6,010 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total value of $296,713.70. Following the completion of the transaction, the chief executive officer now directly owns 77,144 shares in the company, valued at $3,808,599.28. The trade was a 7.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas N. Schmitt sold 546 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $46.85, for a total value of $25,580.10. Following the transaction, the insider now owns 10,246 shares of the company’s stock, valued at approximately $480,025.10. This represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,450 shares of company stock worth $1,369,342 over the last ninety days. Corporate insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Skyward Specialty Insurance Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock valued at $114,990,000 after purchasing an additional 16,572 shares during the period. American Century Companies Inc. increased its stake in shares of Skyward Specialty Insurance Group by 54.0% in the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock worth $79,744,000 after acquiring an additional 553,389 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Skyward Specialty Insurance Group by 1.0% in the third quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock worth $52,786,000 after acquiring an additional 12,484 shares during the last quarter. Invesco Ltd. increased its stake in shares of Skyward Specialty Insurance Group by 9.1% in the fourth quarter. Invesco Ltd. now owns 1,217,329 shares of the company’s stock worth $61,524,000 after acquiring an additional 102,042 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Skyward Specialty Insurance Group by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company’s stock worth $58,860,000 after acquiring an additional 47,363 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Stock Performance

Shares of Skyward Specialty Insurance Group stock opened at $49.50 on Thursday. Skyward Specialty Insurance Group has a one year low of $33.27 and a one year high of $55.62. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 0.81 and a beta of 0.67. The business’s 50 day moving average price is $47.47 and its 200 day moving average price is $46.95.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The company had revenue of $304.40 million for the quarter, compared to the consensus estimate of $295.56 million. On average, analysts predict that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal 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.