Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $55.00 at Raymond James

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price boosted by Raymond James from $45.00 to $55.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a strong-buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group boosted their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods upped their price target on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, August 12th. JMP Securities boosted their price objective on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. William Blair began coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They issued an “outperform” rating for the company. Finally, Piper Sandler lifted their price target on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and an average price target of $46.89.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ:SKWD opened at $44.35 on Tuesday. Skyward Specialty Insurance Group has a 52-week low of $27.56 and a 52-week high of $48.40. The company has a market cap of $1.78 billion, a P/E ratio of 13.52, a P/E/G ratio of 0.79 and a beta of 0.53. The stock’s 50-day moving average is $42.46 and its 200-day moving average is $38.81.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The company had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 17.01% and a net margin of 12.24%. During the same period in the previous year, the company earned $0.65 earnings per share. As a group, equities analysts predict that Skyward Specialty Insurance Group will post 3.06 EPS for the current year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $36.87, for a total transaction of $60,946.11. Following the sale, the director now directly owns 4,001 shares of the company’s stock, valued at approximately $147,516.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently bought and sold shares of SKWD. Amalgamated Bank raised its holdings in shares of Skyward Specialty Insurance Group by 27.7% in the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after buying an additional 279 shares during the last quarter. Chartwell Investment Partners LLC raised its stake in shares of Skyward Specialty Insurance Group by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 38,037 shares of the company’s stock worth $1,549,000 after acquiring an additional 306 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of 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 purchasing an additional 579 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Skyward Specialty Insurance Group during the third quarter valued at approximately $41,000. Finally, Arizona State Retirement System increased its holdings in shares of Skyward Specialty Insurance Group by 24.2% in the second quarter. Arizona State Retirement System now owns 9,516 shares of the company’s stock valued at $344,000 after purchasing an additional 1,854 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.