Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $55.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price boosted by investment analysts at Raymond James from $45.00 to $55.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price objective would indicate a potential upside of 24.41% from the stock’s current price.

A number of other research analysts have also weighed in on SKWD. JMP Securities raised their price objective on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Barclays raised their price target on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Truist Financial reiterated a “buy” rating and issued a $49.00 price objective (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. William Blair assumed coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They issued an “outperform” rating for the company. Finally, Jefferies Financial Group lifted their price objective on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.89.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD stock traded up $0.90 on Tuesday, reaching $44.21. 55,437 shares of the company were exchanged, compared to its average volume of 357,697. Skyward Specialty Insurance Group has a 1 year low of $27.56 and a 1 year high of $48.40. The business has a 50-day moving average price of $42.46 and a 200 day moving average price of $38.81. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 0.79 and a beta of 0.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.65 by $0.06. The company had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 17.01% and a net margin of 12.24%. During the same period in the previous year, the business earned $0.65 EPS. As a group, equities analysts anticipate that Skyward Specialty Insurance Group will post 3.06 earnings per share for the current year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $36.87, for a total value of $60,946.11. Following the transaction, the director now directly owns 4,001 shares in the company, valued at approximately $147,516.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Capital International Investors increased its stake 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 worth $82,767,000 after buying an additional 717,972 shares during the period. Vanguard Group Inc. increased its position in shares of Skyward Specialty Insurance Group by 11.3% during 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 period. Champlain Investment Partners LLC raised its stake in shares of Skyward Specialty Insurance Group by 0.3% in 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 boosted its holdings in Skyward Specialty Insurance Group by 2.8% in the second quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company’s stock valued at $45,528,000 after purchasing an additional 34,286 shares during the period. Finally, American Century Companies Inc. raised its position 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 valued at $33,269,000 after purchasing an additional 77,354 shares in the last quarter. 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.