Skyward Specialty Insurance Group (NASDAQ:SKWD) Given New $66.00 Price Target at Piper Sandler

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target upped by Piper Sandler from $57.00 to $66.00 in a report issued on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

SKWD has been the topic of several other research reports. JMP Securities raised their price objective on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a report on Friday. Barclays boosted their price objective on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, April 11th. TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They set a “hold” rating and a $43.00 target price on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Skyward Specialty Insurance Group from $62.00 to $57.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.88.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $59.36 on Monday. Skyward Specialty Insurance Group has a 1 year low of $33.42 and a 1 year high of $60.40. The stock has a market cap of $2.39 billion, a P/E ratio of 18.10, a P/E/G ratio of 0.81 and a beta of 0.64. The stock has a 50-day simple moving average of $52.14 and a 200-day simple moving average of $49.78.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The company had revenue of $328.53 million for the quarter, compared to analysts’ expectations of $310.94 million. During the same quarter last year, the company earned $0.75 earnings per share. On average, equities research analysts predict that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gena L. Ashe sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.62, for a total transaction of $50,620.00. Following the sale, the director now owns 734 shares of the company’s stock, valued at approximately $37,155.08. The trade was a 57.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas N. Schmitt sold 6,300 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the completion of the transaction, the insider now directly owns 3,946 shares of the company’s stock, valued at approximately $204,876.32. This trade represents a 61.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,132 shares of company stock worth $620,476. Company insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 756.1% in the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after purchasing an additional 809 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth $61,000. LRI Investments LLC purchased a new stake in Skyward Specialty Insurance Group during the 1st quarter worth about $67,000. KBC Group NV purchased a new position in Skyward Specialty Insurance Group in the 1st quarter valued at about $81,000. Finally, New York State Teachers Retirement System acquired a new stake in shares of Skyward Specialty Insurance Group during the 1st quarter worth about $179,000. 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.