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

Skyward Specialty Insurance Group (NASDAQ:SKWDFree Report) had its price objective raised by Truist Financial from $61.00 to $70.00 in a report published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. TD Cowen initiated coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They set a “hold” rating and a $43.00 target price for the company. Piper Sandler reduced their price target on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group cut Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $62.00 to $59.00 in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods cut their target price on Skyward Specialty Insurance Group from $62.00 to $57.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.88.

Get Our Latest Report on Skyward Specialty Insurance Group

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $59.36 on Monday. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 0.81 and a beta of 0.64. The stock’s fifty day moving average price is $52.14 and its two-hundred day moving average price is $49.78. Skyward Specialty Insurance Group has a 52-week low of $33.42 and a 52-week high of $60.40.

Skyward Specialty Insurance Group (NASDAQ:SKWDGet Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. The business had revenue of $328.53 million for the quarter, compared to analyst estimates of $310.94 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same quarter in the prior year, the firm posted $0.75 earnings per share. On average, equities analysts predict that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gena L. Ashe sold 1,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $50.62, for a total value of $50,620.00. Following the sale, the director now directly owns 734 shares of the company’s stock, valued at approximately $37,155.08. The trade was a 57.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John A. Burkhart III sold 4,832 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.24, for a total value of $242,759.68. Following the transaction, the insider now owns 17,655 shares of the company’s stock, valued at approximately $886,987.20. This trade represents a 21.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,132 shares of company stock worth $620,476 over the last ninety days. 8.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Skyward Specialty Insurance Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock worth $114,990,000 after purchasing an additional 16,572 shares during the period. American Century Companies Inc. raised its stake in Skyward Specialty Insurance Group by 54.0% in the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock valued at $79,744,000 after purchasing an additional 553,389 shares in the last quarter. Invesco Ltd. lifted its position in Skyward Specialty Insurance Group by 9.1% during the fourth quarter. Invesco Ltd. now owns 1,217,329 shares of the company’s stock worth $61,524,000 after purchasing an additional 102,042 shares during the period. Franklin Resources Inc. grew its stake in Skyward Specialty Insurance Group by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company’s stock worth $58,860,000 after buying an additional 47,363 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Skyward Specialty Insurance Group by 37.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company’s stock valued at $52,995,000 after buying an additional 283,749 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

Skyward Specialty Insurance Group Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Skyward Specialty Insurance Group (NASDAQ:SKWD)

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