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

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have earned an average rating of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $42.50.

SKWD has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price target on Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Piper Sandler boosted their price target on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Truist Financial increased their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the company a “buy” rating in a report on Friday, May 3rd. BMO Capital Markets upped their target price on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, February 26th. Finally, JMP Securities increased their price target on Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the company a “market outperform” rating in a research note on Thursday, May 2nd.

Skyward Specialty Insurance Group Stock Up 1.2 %

Shares of NASDAQ:SKWD opened at $34.14 on Tuesday. The firm has a market cap of $1.37 billion, a P/E ratio of 12.55 and a beta of 0.69. Skyward Specialty Insurance Group has a 12 month low of $22.97 and a 12 month high of $39.16. The company’s 50-day moving average price is $36.18 and its two-hundred day moving average price is $34.80.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 15.98%. The business had revenue of $264.97 million for the quarter, compared to analysts’ expectations of $251.66 million. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, equities analysts predict that Skyward Specialty Insurance Group will post 2.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Andrew S. Robinson sold 23,533 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $37.21, for a total transaction of $875,662.93. Following the completion of the transaction, the chief executive officer now owns 83,154 shares in the company, valued at $3,094,160.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 23,533 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $37.21, for a total value of $875,662.93. Following the completion of the transaction, the chief executive officer now directly owns 83,154 shares in the company, valued at $3,094,160.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Haushill sold 3,244 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $37.18, for a total value of $120,611.92. Following the transaction, the chief financial officer now directly owns 177,886 shares in the company, valued at approximately $6,613,801.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,095,277 shares of company stock worth $186,000,945. Corporate insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

A number of large investors have recently added to or reduced their stakes in SKWD. Capital International Investors raised its holdings in shares of Skyward Specialty Insurance Group by 48.0% in the 1st quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock valued at $82,767,000 after purchasing an additional 717,972 shares during the period. Vanguard Group Inc. increased its position in 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 buying an additional 207,744 shares during the last quarter. Champlain Investment Partners LLC raised its stake in 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 buying an additional 4,510 shares during the period. American Century Companies Inc. lifted its position in shares of Skyward Specialty Insurance Group by 10.3% in the third quarter. American Century Companies Inc. now owns 587,687 shares of the company’s stock valued at $16,079,000 after buying an additional 54,945 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $18,982,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.