Skyward Specialty Insurance Group (NASDAQ:SKWD) Given New $42.00 Price Target at JMP Securities

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price boosted by JMP Securities from $40.00 to $42.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a market outperform rating on the stock.

A number of other equities analysts also recently commented on the company. Wolfe Research started coverage on Skyward Specialty Insurance Group in a report on Thursday, January 11th. They issued an outperform rating and a $39.00 price objective on the stock. Truist Financial raised their price objective on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a buy rating in a report on Thursday, February 22nd. BMO Capital Markets raised their price objective on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a market perform rating in a report on Monday, February 26th. Piper Sandler raised their price objective 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. Finally, Keefe, Bruyette & Woods raised their price objective on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $39.89.

Skyward Specialty Insurance Group Trading Down 0.2 %

NASDAQ SKWD opened at $35.77 on Monday. The business’s 50-day moving average price is $35.46 and its 200 day moving average price is $32.67. Skyward Specialty Insurance Group has a twelve month low of $20.81 and a twelve month high of $38.64. The company has a market capitalization of $1.43 billion, a PE ratio of 15.97 and a beta of 0.45.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Tuesday, February 20th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $321.60 million for the quarter, compared to the consensus estimate of $320.34 million. During the same period in the prior year, the business posted $0.36 earnings per share. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. Equities analysts predict that Skyward Specialty Insurance Group will post 2.64 EPS for the current year.

Insider Activity

In other news, CEO Andrew S. Robinson sold 13,407 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 61,126 shares in the company, valued at $2,177,919.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $35.58, for a total transaction of $889,500.00. Following the completion of the sale, the chief financial officer now owns 236,688 shares in the company, valued at approximately $8,421,359.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Andrew S. Robinson sold 13,407 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $35.63, for a total value of $477,691.41. Following the sale, the chief executive officer now owns 61,126 shares of the company’s stock, valued at approximately $2,177,919.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,890 shares of company stock worth $3,533,839. 8.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of hedge funds have recently bought and sold shares of SKWD. Royce & Associates LP acquired a new stake in Skyward Specialty Insurance Group during the 1st quarter valued at approximately $7,538,000. Barclays PLC acquired a new stake in Skyward Specialty Insurance Group during the 1st quarter valued at approximately $187,000. California State Teachers Retirement System acquired a new stake in Skyward Specialty Insurance Group during the 1st quarter valued at approximately $84,000. Bank of New York Mellon Corp acquired a new stake in Skyward Specialty Insurance Group during the 1st quarter valued at approximately $654,000. Finally, Rhumbline Advisers acquired a new position in shares of Skyward Specialty Insurance Group in the 1st quarter worth approximately $220,000. 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.