Skyward Specialty Insurance Group (NASDAQ:SKWD) PT Raised to $46.00 at Keefe, Bruyette & Woods

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective raised by equities research analysts at Keefe, Bruyette & Woods from $44.00 to $46.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 24.56% from the stock’s current price.

SKWD has been the subject of a number of other research reports. BMO Capital Markets upped their price target on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, February 26th. Wolfe Research began coverage on Skyward Specialty Insurance Group in a research note on Thursday, January 11th. They issued an “outperform” rating and a $39.00 price target for the company. JMP Securities boosted their price objective on shares of Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the company a “market outperform” rating in a research report on Thursday, May 2nd. Truist Financial raised their target price on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Piper Sandler boosted their price target on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $40.78.

Skyward Specialty Insurance Group Price Performance

Shares of Skyward Specialty Insurance Group stock opened at $36.93 on Wednesday. The stock has a market capitalization of $1.48 billion, a P/E ratio of 13.58 and a beta of 0.68. Skyward Specialty Insurance Group has a one year low of $21.93 and a one year high of $38.64. The business’s 50 day simple moving average is $36.33 and its two-hundred day simple moving average is $33.55.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 16.81%. The company had revenue of $264.97 million during the quarter, compared to analyst estimates of $251.66 million. During the same period in the prior year, the business posted $0.42 EPS. Sell-side analysts expect that Skyward Specialty Insurance Group will post 2.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Andrew S. Robinson sold 13,407 shares of Skyward Specialty Insurance Group 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 transaction, the chief executive officer now owns 61,126 shares of the company’s stock, valued at approximately $2,177,919.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, 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 transaction of $477,691.41. Following the completion of the sale, the chief executive officer now owns 61,126 shares of the company’s stock, valued at $2,177,919.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew S. Robinson sold 12,109 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $35.56, for a total transaction of $430,596.04. Following the completion of the transaction, the chief executive officer now owns 74,533 shares of the company’s stock, valued at $2,650,393.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,890 shares of company stock valued at $3,533,839. 8.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several institutional investors have recently modified their holdings of the business. Amalgamated Bank boosted its holdings in shares of Skyward Specialty Insurance Group by 90.9% during the 3rd quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock valued at $63,000 after acquiring an additional 1,095 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Skyward Specialty Insurance Group by 54.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock worth $114,000 after purchasing an additional 1,186 shares during the period. Diversified Trust Co raised its stake in Skyward Specialty Insurance Group by 21.1% during the 4th quarter. Diversified Trust Co now owns 9,325 shares of the company’s stock valued at $316,000 after buying an additional 1,625 shares during the last quarter. New York State Common Retirement Fund raised its stake in Skyward Specialty Insurance Group by 82.2% during the 3rd quarter. New York State Common Retirement Fund now owns 6,895 shares of the company’s stock valued at $189,000 after buying an additional 3,110 shares during the last quarter. Finally, Jump Financial LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 10.2% during the 4th quarter. Jump Financial LLC now owns 50,185 shares of the company’s stock valued at $1,700,000 after buying an additional 4,642 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

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.