Piper Sandler Raises Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $48.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective lifted by Piper Sandler from $46.00 to $48.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

SKWD has been the subject of several other reports. JMP Securities increased their price target on shares of Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the stock a market outperform rating in a research note on Tuesday, August 6th. Oppenheimer began coverage on shares of Skyward Specialty Insurance Group in a research note on Friday, July 12th. They issued a market perform rating for the company. Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the company an outperform rating in a research note on Wednesday, May 8th. Finally, Truist Financial raised their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the company a buy rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Skyward Specialty Insurance Group has a consensus rating of Moderate Buy and a consensus price target of $43.63.

Skyward Specialty Insurance Group Trading Down 4.4 %

NASDAQ:SKWD opened at $35.95 on Wednesday. The company has a 50-day moving average price of $36.86 and a 200-day moving average price of $35.86. Skyward Specialty Insurance Group has a 12 month low of $22.97 and a 12 month high of $41.11. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 0.75 and a beta of 0.61.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Monday, August 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.65 by $0.15. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 18.01%. The firm had revenue of $279.94 million during the quarter, compared to analysts’ expectations of $282.70 million. During the same period last year, the company posted $0.42 EPS. Equities analysts forecast that Skyward Specialty Insurance Group will post 2.81 EPS for the current fiscal year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $36.87, for a total transaction of $60,946.11. Following the transaction, the director now 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. 8.01% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several large investors have recently added to or reduced their stakes in SKWD. Vanguard Group Inc. lifted its holdings in Skyward Specialty Insurance Group by 109.5% during the third quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company’s stock valued at $41,390,000 after purchasing an additional 790,826 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Skyward Specialty Insurance Group during the fourth quarter valued at approximately $688,000. International Assets Investment Management LLC purchased a new position in Skyward Specialty Insurance Group during the fourth quarter valued at approximately $161,000. Allspring Global Investments Holdings LLC lifted its holdings in Skyward Specialty Insurance Group by 223.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 389,530 shares of the company’s stock valued at $13,197,000 after purchasing an additional 269,080 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $6,393,000. 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.