Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives Average Recommendation of “Buy” from Brokerages

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have received a consensus recommendation of “Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. One equities research 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. The average 12 month target price among brokerages that have covered the stock in the last year is $39.89.

Several research firms have recently commented on SKWD. Truist Financial increased their target price on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. BMO Capital Markets increased their target price on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. Piper Sandler increased their target price on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. JMP Securities increased their target price on Skyward Specialty Insurance Group from $40.00 to $42.00 and gave the company a “market outperform” rating in a research note on Monday, April 15th. Finally, Wolfe Research began coverage on Skyward Specialty Insurance Group in a research note on Thursday, January 11th. They set an “outperform” rating and a $39.00 target price for the company.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 12,109 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $35.56, for a total transaction of $430,596.04. Following the completion of the sale, the chief executive officer now directly owns 74,533 shares in the company, valued at approximately $2,650,393.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Mark W. Haushill sold 35,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 261,688 shares of the company’s stock, valued at approximately $9,410,300.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew S. Robinson sold 12,109 shares of the firm’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 transaction, the chief executive officer now directly owns 74,533 shares in the company, valued at $2,650,393.48. 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

A number of institutional investors have recently made changes to their positions in SKWD. Wasatch Advisors LP grew its holdings in Skyward Specialty Insurance Group by 5.9% in the 1st quarter. Wasatch Advisors LP now owns 276,494 shares of the company’s stock valued at $10,344,000 after buying an additional 15,407 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Skyward Specialty Insurance Group by 19.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock worth $17,383,000 after purchasing an additional 75,137 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Skyward Specialty Insurance Group by 26.3% during the 1st quarter. Diversified Trust Co now owns 11,775 shares of the company’s stock worth $441,000 after purchasing an additional 2,450 shares in the last quarter. Quadrature Capital Ltd grew its holdings in shares of Skyward Specialty Insurance Group by 15.5% during the 4th quarter. Quadrature Capital Ltd now owns 46,504 shares of the company’s stock worth $1,576,000 after purchasing an additional 6,232 shares in the last quarter. Finally, Ghisallo Capital Management LLC grew its holdings in shares of Skyward Specialty Insurance Group by 50.0% during the 4th quarter. Ghisallo Capital Management LLC now owns 150,000 shares of the company’s stock worth $5,082,000 after purchasing an additional 50,000 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

Skyward Specialty Insurance Group Price Performance

SKWD opened at $33.46 on Monday. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 14.94 and a beta of 0.45. The business has a 50-day moving average of $36.17 and a two-hundred day moving average of $33.06. Skyward Specialty Insurance Group has a 12 month low of $20.89 and a 12 month high of $38.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, February 20th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The business had revenue of $321.60 million during the quarter, compared to analysts’ expectations of $320.34 million. Skyward Specialty Insurance Group had a return on equity of 14.31% and a net margin of 9.56%. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. Equities research analysts anticipate that Skyward Specialty Insurance Group will post 2.64 earnings per share for the current year.

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.