Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $45.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target lifted by analysts at JMP Securities from $42.00 to $45.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 19.74% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Piper Sandler raised their price target on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Wolfe Research assumed coverage on Skyward Specialty Insurance Group in a report on Thursday, January 11th. They set an “outperform” rating and a $39.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Truist Financial raised their price target on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, BMO Capital Markets raised their price target on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a report on Monday, February 26th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of “Buy” and an average price target of $40.56.

Skyward Specialty Insurance Group Stock Performance

Shares of Skyward Specialty Insurance Group stock opened at $37.58 on Thursday. Skyward Specialty Insurance Group has a one year low of $21.21 and a one year high of $38.64. The stock’s fifty day moving average is $36.20 and its 200 day moving average is $33.25. The stock has a market cap of $1.50 billion, a P/E ratio of 13.82 and a beta of 0.68.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The company had revenue of $264.97 million for the quarter, compared to analysts’ expectations of $251.66 million. Skyward Specialty Insurance Group had a return on equity of 16.81% and a net margin of 11.16%. During the same period last year, the firm earned $0.42 EPS. Analysts predict that Skyward Specialty Insurance Group will post 2.64 EPS for the current year.

Insider Activity

In related news, CEO Andrew S. Robinson sold 13,374 shares of Skyward Specialty Insurance Group stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total value of $477,451.80. Following the completion of the transaction, the chief executive officer now owns 96,883 shares in the company, valued at $3,458,723.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Andrew S. Robinson sold 13,374 shares of Skyward Specialty Insurance Group stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total value of $477,451.80. Following the completion of the transaction, the chief executive officer now owns 96,883 shares in the company, valued at $3,458,723.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark W. Haushill sold 35,000 shares of Skyward Specialty Insurance Group stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 261,688 shares of the company’s stock, valued at approximately $9,410,300.48. The disclosure for this sale can be found here. Insiders sold a total of 98,890 shares of company stock worth $3,533,839 over the last 90 days. Corporate insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKWD. Vanguard Group Inc. boosted its position in shares of Skyward Specialty Insurance Group by 109.5% during 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 during the period. Redwood Investments LLC purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $2,890,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Skyward Specialty Insurance Group during the third quarter valued at approximately $396,000. ClariVest Asset Management LLC purchased a new position in shares of Skyward Specialty Insurance Group during the third quarter valued at approximately $1,106,000. Finally, Strs Ohio purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $6,393,000. 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.