Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $53.00 at Barclays

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective increased by investment analysts at Barclays from $45.00 to $53.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 15.80% from the stock’s previous close.

Several other research analysts also recently issued reports on SKWD. Raymond James boosted their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 5th. JMP Securities increased their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their price target on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.78.

Skyward Specialty Insurance Group Trading Down 1.5 %

Shares of Skyward Specialty Insurance Group stock traded down $0.70 on Monday, reaching $45.77. 198,596 shares of the company were exchanged, compared to its average volume of 282,468. The stock has a fifty day moving average price of $50.25 and a 200-day moving average price of $43.42. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89. Skyward Specialty Insurance Group has a fifty-two week low of $29.40 and a fifty-two week high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. 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 firm earned $0.65 earnings per share. On average, equities analysts anticipate that Skyward Specialty Insurance Group will post 3.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director James Charles Hays sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 747,261 shares of the company’s stock, valued at $40,352,094. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

A number of institutional investors have recently made changes to their positions in SKWD. Marshall Wace LLP acquired a new position in shares of Skyward Specialty Insurance Group in the second quarter valued at approximately $10,152,000. Dimensional Fund Advisors LP acquired a new position in shares of Skyward Specialty Insurance Group during the 2nd quarter worth $8,151,000. Mutual of America Capital Management LLC bought a new stake in shares of Skyward Specialty Insurance Group during the 2nd quarter worth $6,568,000. Franklin Resources Inc. boosted its stake in Skyward Specialty Insurance Group by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock valued at $45,506,000 after buying an additional 158,679 shares in the last quarter. Finally, Phase 2 Partners LLC bought a new stake in shares of Skyward Specialty Insurance Group during the 3rd quarter valued at approximately $5,680,000. 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.