Skyward Specialty Insurance Group (NASDAQ:SKWD) Research Coverage Started at TD Cowen

TD Cowen began coverage on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) in a research note published on Monday morning, MarketBeat.com reports. The brokerage issued a hold rating and a $43.00 target price on the stock.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group increased their target price 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. Raymond James raised their price objective 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. 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. Finally, Barclays raised their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.22.

Skyward Specialty Insurance Group Price Performance

NASDAQ SKWD opened at $45.00 on Monday. Skyward Specialty Insurance Group has a 12 month low of $29.40 and a 12 month high of $55.62. The stock has a market capitalization of $1.80 billion, a P/E ratio of 13.72, a PEG ratio of 0.70 and a beta of 0.89. The firm’s 50-day moving average is $50.27 and its two-hundred day moving average is $43.85.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The firm had revenue of $300.89 million during the quarter, compared to analysts’ expectations of $292.43 million. During the same quarter last year, the company posted $0.65 EPS. As a group, analysts anticipate that Skyward Specialty Insurance Group will post 3.06 EPS for the current year.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 546 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.85, for a total value of $25,580.10. Following the transaction, the insider now directly owns 10,246 shares in the company, valued at $480,025.10. This represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Charles Hays sold 25,000 shares of the firm’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 transaction of $1,350,000.00. Following the sale, the director now directly owns 747,261 shares in the company, valued at approximately $40,352,094. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,318 shares of company stock valued at $2,098,866 over the last quarter. 8.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers boosted its stake in Skyward Specialty Insurance Group by 38.0% in the second quarter. Rhumbline Advisers now owns 54,958 shares of the company’s stock valued at $1,988,000 after acquiring an additional 15,126 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Skyward Specialty Insurance Group by 24.2% in the 2nd quarter. Arizona State Retirement System now owns 9,516 shares of the company’s stock valued at $344,000 after purchasing an additional 1,854 shares during the period. American Century Companies Inc. grew its stake in Skyward Specialty Insurance Group by 9.2% during the 2nd quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock worth $33,269,000 after buying an additional 77,354 shares during the last quarter. Federated Hermes Inc. increased its position in Skyward Specialty Insurance Group by 10.4% during the second quarter. Federated Hermes Inc. now owns 468,640 shares of the company’s stock worth $16,955,000 after buying an additional 44,323 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in Skyward Specialty Insurance Group by 197.2% in the second quarter. Envestnet Asset Management Inc. now owns 65,036 shares of the company’s stock valued at $2,353,000 after buying an additional 43,153 shares during the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

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.