Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives $43.78 Average Price Target from Analysts

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $43.78.

Several analysts recently weighed in on SKWD shares. Piper Sandler raised their price objective on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. JMP Securities lifted their price target on shares of Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the company a “market outperform” rating in a report on Tuesday, August 6th. Truist Financial reiterated a “buy” rating and set a $49.00 price objective (up from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. Oppenheimer initiated coverage on shares of Skyward Specialty Insurance Group in a research report on Friday, July 12th. They issued a “market perform” rating on the stock. Finally, William Blair started coverage on shares of Skyward Specialty Insurance Group in a report on Monday, August 19th. They set an “outperform” rating for the company.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $36.87, for a total transaction of $60,946.11. Following the transaction, the director now directly owns 4,001 shares of the company’s stock, valued at approximately $147,516.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank boosted its stake in shares of Skyward Specialty Insurance Group by 27.7% in the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after purchasing an additional 279 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position 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 valued at $111,000 after acquiring an additional 579 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Skyward Specialty Insurance Group during the 2nd quarter worth about $160,000. ProShare Advisors LLC bought a new position in shares of Skyward Specialty Insurance Group in the 1st quarter worth about $200,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Skyward Specialty Insurance Group by 67.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock valued at $204,000 after purchasing an additional 2,270 shares during the period. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

Skyward Specialty Insurance Group stock opened at $41.21 on Thursday. The firm has a market cap of $1.65 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.77 and a beta of 0.60. The stock’s fifty day moving average price is $39.11 and its two-hundred day moving average price is $37.31. Skyward Specialty Insurance Group has a one year low of $26.81 and a one year high of $42.26.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.15. The company had revenue of $279.94 million for the quarter, compared to analysts’ expectations of $282.70 million. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. During the same quarter last year, the business earned $0.42 earnings per share. Sell-side analysts expect that Skyward Specialty Insurance Group will post 2.96 earnings per share for the current fiscal 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.