Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $47.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price hoisted by JMP Securities from $45.00 to $47.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a market outperform rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Truist Financial boosted their target price on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the stock a buy rating in a report on Friday, May 3rd. Piper Sandler upped their price objective on shares of 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, Keefe, Bruyette & Woods upped their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the company an outperform rating in a research note on Wednesday, May 8th. One investment 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. According to MarketBeat, Skyward Specialty Insurance Group presently has an average rating of Buy and an average price target of $42.75.

Skyward Specialty Insurance Group Price Performance

SKWD opened at $35.84 on Monday. Skyward Specialty Insurance Group has a fifty-two week low of $22.97 and a fifty-two week high of $39.16. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 13.18 and a beta of 0.63. The company’s 50 day moving average price is $36.10 and its two-hundred day moving average price is $35.01.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $264.97 million for the quarter, compared to analyst estimates of $251.66 million. During the same period in the previous year, the firm posted $0.42 EPS. As a group, equities research analysts predict that Skyward Specialty Insurance Group will post 2.78 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Corp Westaim sold 5,060,000 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $36.50, for a total transaction of $184,690,000.00. Following the transaction, the insider now directly owns 1,919,639 shares of the company’s stock, valued at $70,066,823.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Corp Westaim sold 5,060,000 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $36.50, for a total transaction of $184,690,000.00. Following the transaction, the insider now directly owns 1,919,639 shares of the company’s stock, valued at $70,066,823.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Haushill sold 3,244 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $37.18, for a total transaction of $120,611.92. Following the transaction, the chief financial officer now directly owns 177,886 shares in the company, valued at $6,613,801.48. The disclosure for this sale can be found here. Insiders have sold a total of 5,095,277 shares of company stock valued at $186,000,945 over the last ninety days. 8.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SKWD. Ameritas Investment Partners Inc. boosted its stake in Skyward Specialty Insurance Group by 24.2% during the first quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock worth $111,000 after acquiring an additional 579 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 buying an additional 1,186 shares during the last quarter. Adalta Capital Management LLC acquired a new position in Skyward Specialty Insurance Group during the third quarter worth $137,000. International Assets Investment Management LLC acquired a new position in Skyward Specialty Insurance Group during the fourth quarter worth $161,000. Finally, ProShare Advisors LLC acquired a new position in Skyward Specialty Insurance Group during the first quarter worth $200,000. 94.83% of the stock is owned by institutional investors.

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.