Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Increased to $46.00 by Analysts at Keefe, Bruyette & Woods

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target lifted by Keefe, Bruyette & Woods from $44.00 to $46.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 24.56% from the company’s previous close.

Several other research analysts have also recently weighed in on SKWD. Piper Sandler boosted their target price on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. JMP Securities boosted their price objective on Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 2nd. Truist Financial raised their target price on Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Wolfe Research initiated coverage on shares of Skyward Specialty Insurance Group in a research report on Thursday, January 11th. They set an “outperform” rating and a $39.00 price target on the stock. Finally, BMO Capital Markets upped their price objective on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a report on Monday, February 26th. 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 stock. According to MarketBeat.com, Skyward Specialty Insurance Group currently has an average rating of “Buy” and a consensus target price of $40.78.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD stock opened at $36.93 on Wednesday. Skyward Specialty Insurance Group has a fifty-two week low of $21.93 and a fifty-two week high of $38.64. The stock’s fifty day moving average is $36.33 and its two-hundred day moving average is $33.55. The firm has a market capitalization of $1.48 billion, a P/E ratio of 13.58 and a beta of 0.68.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. The firm had revenue of $264.97 million for the quarter, compared to the consensus estimate 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 period last year, the firm posted $0.42 earnings per share. On average, equities analysts forecast that Skyward Specialty Insurance Group will post 2.7 earnings per share for the current year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, CFO Mark W. Haushill sold 35,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 261,688 shares of the company’s stock, valued at approximately $9,410,300.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Andrew S. Robinson sold 13,374 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total transaction of $477,451.80. Following the transaction, the chief executive officer now owns 96,883 shares of the company’s stock, valued at approximately $3,458,723.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mark W. Haushill sold 35,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 261,688 shares of the company’s stock, valued at $9,410,300.48. The disclosure for this sale can be found here. Insiders have sold 98,890 shares of company stock valued at $3,533,839 over the last 90 days. 8.01% of the stock is owned by insiders.

Institutional Trading of Skyward Specialty Insurance Group

Hedge funds have recently made changes to their positions in the business. Amalgamated Bank grew its holdings in shares of Skyward Specialty Insurance Group by 90.9% in the third quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock valued at $63,000 after purchasing an additional 1,095 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Skyward Specialty Insurance Group by 54.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock valued at $114,000 after buying an additional 1,186 shares during the period. Adalta Capital Management LLC acquired a new position in shares of Skyward Specialty Insurance Group in the third quarter worth $137,000. International Assets Investment Management LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter worth $161,000. Finally, New York State Common Retirement Fund raised 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 acquiring 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.