Skyward Specialty Insurance Group (NASDAQ:SKWD) Now Covered by Barclays

Barclays began coverage on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) in a report published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $44.00 price objective on the stock.

A number of other research firms have also commented on SKWD. Keefe, Bruyette & Woods upped their price target on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an outperform rating in a research report on Monday, August 12th. Truist Financial reaffirmed a buy rating and issued a $49.00 price target (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Oppenheimer assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Friday, July 12th. They set a market perform rating on the stock. William Blair assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, August 19th. They issued an outperform rating for the company. Finally, Piper Sandler boosted their price target on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an overweight rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $43.78.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $40.82 on Wednesday. Skyward Specialty Insurance Group has a fifty-two week low of $22.97 and a fifty-two week high of $41.98. The business has a 50 day moving average price of $38.22 and a 200-day moving average price of $36.90. The firm has a market cap of $1.64 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.15. The business had revenue of $279.94 million for the quarter, compared to analyst estimates of $282.70 million. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. During the same quarter last year, the firm earned $0.42 EPS. Research analysts predict that Skyward Specialty Insurance Group will post 2.96 EPS for the current year.

Insider Buying and Selling

In related news, Director Katharine Terry sold 1,653 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $36.87, for a total transaction of $60,946.11. Following the sale, the director now owns 4,001 shares of the company’s stock, valued at $147,516.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several large investors have recently made changes to their positions in the business. Capital International Investors increased its position in Skyward Specialty Insurance Group by 48.0% during the 1st quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock valued at $82,767,000 after buying an additional 717,972 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Skyward Specialty Insurance Group by 11.3% in the first quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock worth $76,458,000 after acquiring an additional 207,744 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Skyward Specialty Insurance Group by 0.3% during the first quarter. Champlain Investment Partners LLC now owns 1,405,980 shares of the company’s stock valued at $52,598,000 after acquiring an additional 4,510 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of Skyward Specialty Insurance Group by 2.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company’s stock worth $45,528,000 after purchasing an additional 34,286 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Skyward Specialty Insurance Group by 9.2% in the 2nd quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock worth $33,269,000 after purchasing an additional 77,354 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Company Profile

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.