Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $68.00 at Piper Sandler

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective boosted by research analysts at Piper Sandler from $55.00 to $68.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 12.96% from the company’s previous close.

Other research analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Skyward Specialty Insurance Group in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods raised shares of Skyward Specialty Insurance Group from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, March 13th. Capital One Financial set a $59.00 target price on shares of Skyward Specialty Insurance Group in a report on Tuesday, June 9th. Barclays lifted their price target on shares of Skyward Specialty Insurance Group from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.44.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD stock opened at $60.20 on Tuesday. The company has a market cap of $2.44 billion, a PE ratio of 14.51 and a beta of 0.34. Skyward Specialty Insurance Group has a 1 year low of $40.60 and a 1 year high of $62.20. The stock’s 50 day simple moving average is $48.97 and its two-hundred day simple moving average is $47.20.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Wednesday, May 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.12. The firm had revenue of $475.87 million during the quarter, compared to analysts’ expectations of $665.12 million. Skyward Specialty Insurance Group had a return on equity of 18.24% and a net margin of 11.36%.The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. Equities research analysts expect that Skyward Specialty Insurance Group will post 4.93 EPS for the current year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Director Anthony J. Kuczinski bought 2,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was acquired at an average cost of $47.10 per share, for a total transaction of $94,200.00. Following the completion of the transaction, the director owned 15,977 shares in the company, valued at $752,516.70. This trade represents a 14.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gena L. Ashe sold 740 shares of Skyward Specialty Insurance Group stock in a transaction on Monday, May 11th. The stock was sold at an average price of $46.35, for a total value of $34,299.00. Following the sale, the director owned 4,570 shares of the company’s stock, valued at approximately $211,819.50. This trade represents a 13.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 8.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Reinhart Partners LLC. boosted its position in Skyward Specialty Insurance Group by 49.8% in the 4th quarter. Reinhart Partners LLC. now owns 2,416,753 shares of the company’s stock valued at $123,521,000 after buying an additional 803,217 shares during the period. Balyasny Asset Management L.P. increased its position in shares of Skyward Specialty Insurance Group by 411.7% during the third quarter. Balyasny Asset Management L.P. now owns 947,170 shares of the company’s stock worth $45,047,000 after acquiring an additional 762,079 shares during the period. Freestone Grove Partners LP purchased a new position in shares of Skyward Specialty Insurance Group during the third quarter worth approximately $24,234,000. Sei Investments Co. increased its position in shares of Skyward Specialty Insurance Group by 397.5% during the first quarter. Sei Investments Co. now owns 433,298 shares of the company’s stock worth $18,926,000 after acquiring an additional 346,202 shares during the period. Finally, Langdon Equity Partners bought a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $16,965,000. Institutional investors own 94.83% of the company’s stock.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc (NASDAQ: SKWD) is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.