Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Given Average Rating of “Moderate Buy” by Brokerages

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $46.89.

Several equities research analysts have recently issued reports on SKWD shares. Barclays raised their target price on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Raymond James raised their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 5th. Jefferies Financial Group upped their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, JMP Securities raised their price target on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director James Charles Hays sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total value of $1,350,000.00. Following the completion of the sale, the director now owns 747,261 shares of the company’s stock, valued at approximately $40,352,094. This represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of institutional investors have recently added to or reduced their stakes in SKWD. Marshall Wace LLP purchased a new stake in Skyward Specialty Insurance Group during the second quarter valued at approximately $10,152,000. Dimensional Fund Advisors LP acquired a new position in shares of Skyward Specialty Insurance Group during the second quarter worth $8,151,000. Mutual of America Capital Management LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the 2nd quarter valued at $6,568,000. Franklin Resources Inc. boosted its position in shares of Skyward Specialty Insurance Group by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock worth $45,506,000 after purchasing an additional 158,679 shares in the last quarter. Finally, Phase 2 Partners LLC purchased a new position in Skyward Specialty Insurance Group during the 3rd quarter worth $5,680,000. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ SKWD opened at $50.80 on Friday. The stock has a market capitalization of $2.04 billion, a P/E ratio of 15.49, a PEG ratio of 0.95 and a beta of 0.76. Skyward Specialty Insurance Group has a 1-year low of $29.40 and a 1-year high of $55.62. The business’s 50 day moving average is $49.98 and its two-hundred day moving average is $42.78.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.06. The firm had revenue of $300.89 million for the quarter, compared to the consensus estimate of $292.43 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 previous year, the company posted $0.65 EPS. As a group, equities research analysts anticipate that Skyward Specialty Insurance Group will post 3.06 earnings per share for the current fiscal year.

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.