Skyward Specialty Insurance Group (NASDAQ:SKWD) Given New $62.00 Price Target at Keefe, Bruyette & Woods

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price raised by Keefe, Bruyette & Woods from $60.00 to $62.00 in a research report released on Friday,Benzinga reports. They currently have an outperform rating on the stock.

SKWD has been the topic of a number of other reports. Truist Financial boosted their price target on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James boosted their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. Wolfe Research reissued a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a research report on Monday, January 13th. They set a “hold” rating and a $43.00 price objective for the company. Finally, Piper Sandler lowered their price objective on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ:SKWD opened at $52.02 on Friday. The firm has a market capitalization of $2.09 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 0.81 and a beta of 0.83. The firm’s 50-day moving average is $47.44 and its two-hundred day moving average is $45.99. Skyward Specialty Insurance Group has a 1 year low of $33.27 and a 1 year high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $304.40 million for the quarter, compared to analyst estimates of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. Analysts expect that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In related news, Director James Charles Hays sold 25,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $40,352,094. This 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 this hyperlink. Also, EVP Sandip A. Kapadia sold 908 shares of the business’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 of the company’s stock, valued at approximately $487,229.58. This represents a 8.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,318 shares of company stock valued at $2,098,866 over the last three months. 8.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKWD. Arcadia Investment Management Corp MI purchased a new stake in Skyward Specialty Insurance Group in the third quarter valued at approximately $41,000. Sterling Capital Management LLC lifted its stake in Skyward Specialty Insurance Group by 756.1% in the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after buying an additional 809 shares during the last quarter. Quarry LP lifted its stake in Skyward Specialty Insurance Group by 176.9% in the third quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after buying an additional 879 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter worth approximately $61,000. Finally, Summit Investment Advisors Inc. raised its stake in shares of Skyward Specialty Insurance Group by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock worth $196,000 after purchasing an additional 247 shares during the last quarter. 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.