Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price upped by equities researchers at Citizens Jmp from $75.00 to $80.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price target indicates a potential upside of 71.67% from the stock’s current price.

A number of other brokerages also recently issued reports on SKWD. Citigroup reaffirmed an “outperform” rating on shares of Skyward Specialty Insurance Group in a research report on Thursday. Piper Sandler boosted their target price on Skyward Specialty Insurance Group from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday. Janney Montgomery Scott initiated coverage on Skyward Specialty Insurance Group in a research note on Monday, October 6th. They issued a “buy” rating and a $60.00 price target for the company. BMO Capital Markets raised their price target on Skyward Specialty Insurance Group from $52.00 to $55.00 and gave the stock a “market perform” rating in a report on Monday, September 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Skyward Specialty Insurance Group in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.27.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $46.60 on Thursday. The company’s 50-day simple moving average is $47.32 and its 200-day simple moving average is $51.26. Skyward Specialty Insurance Group has a fifty-two week low of $41.28 and a fifty-two week high of $65.05. The stock has a market capitalization of $1.89 billion, a P/E ratio of 13.75 and a beta of 0.55.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.85 by $0.20. Skyward Specialty Insurance Group had a net margin of 10.57% and a return on equity of 17.30%. The firm had revenue of $382.53 million during the quarter, compared to analyst estimates of $334.54 million. During the same quarter in the previous year, the business posted $0.71 EPS. On average, research analysts forecast that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of large investors have recently bought and sold shares of SKWD. Cambria Investment Management L.P. increased its holdings in Skyward Specialty Insurance Group by 24.9% in the 3rd quarter. Cambria Investment Management L.P. now owns 10,462 shares of the company’s stock worth $498,000 after buying an additional 2,088 shares during the period. Oberweis Asset Management Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 76.1% in the 3rd quarter. Oberweis Asset Management Inc. now owns 231,800 shares of the company’s stock valued at $11,024,000 after acquiring an additional 100,200 shares during the last quarter. PharVision Advisers LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at $284,000. Voleon Capital Management LP acquired a new stake in shares of Skyward Specialty Insurance Group in the third quarter worth $735,000. Finally, Voloridge Investment Management LLC raised its holdings in shares of Skyward Specialty Insurance Group by 195.2% during the third quarter. Voloridge Investment Management LLC now owns 258,302 shares of the company’s stock worth $12,285,000 after purchasing an additional 170,814 shares during the last quarter. Hedge funds and other institutional investors 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.