Truist Financial Raises Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $47.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target increased by Truist Financial from $44.00 to $47.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a buy rating on the stock.

SKWD has been the topic of several other research reports. JMP Securities boosted their price target on shares of Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the company a market outperform rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their target price on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an outperform rating in a report on Wednesday, April 10th. BMO Capital Markets upped their price target on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a market perform rating in a research note on Monday, February 26th. Piper Sandler lifted their price objective 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. Finally, Wolfe Research initiated coverage on Skyward Specialty Insurance Group in a report on Thursday, January 11th. They issued an outperform rating and a $39.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Buy and an average target price of $40.56.

Skyward Specialty Insurance Group Trading Up 0.1 %

SKWD traded up $0.03 on Friday, hitting $37.61. 59,090 shares of the company’s stock were exchanged, compared to its average volume of 312,876. Skyward Specialty Insurance Group has a fifty-two week low of $21.67 and a fifty-two week high of $38.64. The firm has a 50-day moving average price of $36.25 and a 200-day moving average price of $33.37. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 13.82 and a beta of 0.68.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. The company had revenue of $264.97 million for the quarter, compared to analysts’ expectations of $251.66 million. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 16.81%. During the same quarter in the previous year, the company posted $0.42 EPS. On average, equities analysts predict that Skyward Specialty Insurance Group will post 2.7 EPS for the current year.

Insider Activity at Skyward Specialty Insurance Group

In other news, CFO Mark W. Haushill sold 35,000 shares of the company’s stock in a transaction that occurred on 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 owns 261,688 shares in the company, valued at $9,410,300.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 25,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $35.58, for a total transaction of $889,500.00. Following the transaction, the chief financial officer now directly owns 236,688 shares in the company, valued at $8,421,359.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Haushill sold 35,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $35.96, for a total value of $1,258,600.00. Following the completion of the sale, the chief financial officer now directly owns 261,688 shares in the company, valued at approximately $9,410,300.48. The disclosure for this sale can be found here. Insiders have sold 98,890 shares of company stock worth $3,533,839 in the last quarter. Company insiders own 8.01% of the company’s stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of large investors have recently bought and sold shares of the stock. Amalgamated Bank increased its stake in Skyward Specialty Insurance Group by 90.9% during the third quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock worth $63,000 after acquiring an additional 1,095 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Skyward Specialty Insurance Group by 54.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock worth $114,000 after acquiring an additional 1,186 shares during the last quarter. Adalta Capital Management LLC acquired a new stake in Skyward Specialty Insurance Group during the third quarter worth about $137,000. International Assets Investment Management LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $161,000. Finally, New York State Common Retirement Fund grew its stake in shares of Skyward Specialty Insurance Group by 82.2% in the third quarter. New York State Common Retirement Fund now owns 6,895 shares of the company’s stock valued at $189,000 after buying an additional 3,110 shares in the last quarter. Institutional investors and hedge funds 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.