Keefe, Bruyette & Woods Boosts Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $44.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target hoisted by Keefe, Bruyette & Woods from $43.00 to $44.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also recently weighed in on SKWD. JMP Securities increased their price target on Skyward Specialty Insurance Group from $38.00 to $40.00 and gave the company a market outperform rating in a research note on Wednesday, February 21st. Truist Financial increased their price target on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Raymond James increased their price target on Skyward Specialty Insurance Group from $36.00 to $40.00 and gave the company a strong-buy rating in a research note on Tuesday, December 12th. Wolfe Research started coverage on Skyward Specialty Insurance Group in a research report on Thursday, January 11th. They set an outperform rating and a $39.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on Skyward Specialty Insurance Group in a research report on Tuesday, December 12th. They set a buy rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group presently has a consensus rating of Buy and an average target price of $39.67.

Skyward Specialty Insurance Group Trading Down 2.4 %

NASDAQ SKWD opened at $36.66 on Wednesday. The company has a market cap of $1.47 billion, a PE ratio of 16.37 and a beta of 0.45. Skyward Specialty Insurance Group has a 12 month low of $20.63 and a 12 month high of $38.64. The stock has a 50 day moving average of $35.09 and a 200-day moving average of $32.47.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Skyward Specialty Insurance Group had a return on equity of 14.31% and a net margin of 9.56%. The business had revenue of $321.60 million for the quarter, compared to analysts’ expectations of $320.34 million. During the same quarter in the prior year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, sell-side analysts predict that Skyward Specialty Insurance Group will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mark W. Haushill sold 35,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was 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 in the company, valued at $9,410,300.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Mark W. Haushill sold 35,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was 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 in the company, valued at $9,410,300.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew S. Robinson sold 13,407 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $35.63, for a total value of $477,691.41. Following the completion of the transaction, the chief executive officer now owns 61,126 shares in the company, valued at approximately $2,177,919.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,890 shares of company stock worth $3,533,839.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SKWD. Redwood Investments LLC acquired a new stake in Skyward Specialty Insurance Group in the fourth quarter valued at about $2,890,000. DekaBank Deutsche Girozentrale acquired a new stake in Skyward Specialty Insurance Group in the third quarter valued at about $396,000. ClariVest Asset Management LLC acquired a new stake in Skyward Specialty Insurance Group in the third quarter valued at about $1,106,000. Vanguard Group Inc. boosted its stake in Skyward Specialty Insurance Group by 109.5% in the third quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company’s stock valued at $41,390,000 after buying an additional 790,826 shares in the last quarter. Finally, Barclays PLC boosted its stake in Skyward Specialty Insurance Group by 263.2% in the third quarter. Barclays PLC now owns 16,494 shares of the company’s stock valued at $451,000 after buying an additional 11,953 shares in the last quarter. 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.