Skyward Specialty Insurance Group (NASDAQ:SKWD) PT Raised to $45.00 at JMP Securities

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective boosted by analysts at JMP Securities from $42.00 to $45.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective would indicate a potential upside of 24.83% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Truist Financial upped their price target on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. BMO Capital Markets raised their target price on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, February 26th. Piper Sandler upped their price target on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Keefe, Bruyette & Woods increased their price objective on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, Wolfe Research initiated coverage on Skyward Specialty Insurance Group in a report on Thursday, January 11th. They issued an “outperform” rating and a $39.00 target price on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $40.22.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ SKWD traded up $0.55 during mid-day trading on Thursday, reaching $36.05. 280,283 shares of the company traded hands, compared to its average volume of 310,103. Skyward Specialty Insurance Group has a fifty-two week low of $21.21 and a fifty-two week high of $38.64. The firm has a market cap of $1.44 billion, a PE ratio of 16.06 and a beta of 0.69. The stock has a fifty day simple moving average of $36.18 and a 200-day simple moving average of $33.21.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.09. The company had revenue of $264.97 million for the quarter, compared to analysts’ expectations of $251.66 million. Skyward Specialty Insurance Group had a return on equity of 14.31% and a net margin of 9.56%. During the same period last year, the firm earned $0.42 EPS. As a group, analysts predict that Skyward Specialty Insurance Group will post 2.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Andrew S. Robinson sold 12,109 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $35.56, for a total value of $430,596.04. Following the transaction, the chief executive officer now directly owns 74,533 shares of the company’s stock, valued at $2,650,393.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 12,109 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $35.56, for a total value of $430,596.04. Following the completion of the sale, the chief executive officer now directly owns 74,533 shares of the company’s stock, valued at $2,650,393.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark W. Haushill sold 35,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the transaction, the chief financial officer now owns 261,688 shares in the company, valued at approximately $9,410,300.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,890 shares of company stock worth $3,533,839. 8.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Skyward Specialty Insurance Group by 109.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company’s stock worth $41,390,000 after acquiring an additional 790,826 shares during the last quarter. Capital International Investors acquired a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth about $50,632,000. Jennison Associates LLC lifted its position in shares of Skyward Specialty Insurance Group by 35.2% during the 3rd quarter. Jennison Associates LLC now owns 1,356,301 shares of the company’s stock worth $37,108,000 after purchasing an additional 352,971 shares during the last quarter. American Century Companies Inc. boosted its stake in Skyward Specialty Insurance Group by 10.3% during the 3rd quarter. American Century Companies Inc. now owns 587,687 shares of the company’s stock valued at $16,079,000 after purchasing an additional 54,945 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in Skyward Specialty Insurance Group in the 4th quarter valued at approximately $18,982,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.