Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $61.75.

A number of brokerages have recently commented on SKWD. JMP Securities lifted their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research report on Friday, May 2nd. Barclays lifted their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, April 11th. Jefferies Financial Group downgraded shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $62.00 to $59.00 in a research report on Friday, April 11th. Wolfe Research reissued a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Finally, Truist Financial lifted their price objective on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 5th.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Chairman Kirby Hill sold 8,249 shares of Skyward Specialty Insurance Group stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total value of $502,116.63. Following the completion of the sale, the chairman now owns 8,249 shares in the company, valued at $502,116.63. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Haushill sold 52,748 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $58.76, for a total transaction of $3,099,472.48. Following the completion of the sale, the chief financial officer now owns 133,629 shares of the company’s stock, valued at $7,852,040.04. This trade represents a 28.30% decrease in their position. The disclosure for this sale can be found here. 8.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Skyward Specialty Insurance Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Investment Advisors Inc. increased its holdings in Skyward Specialty Insurance Group by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after buying an additional 247 shares during the period. Arizona State Retirement System increased its holdings in Skyward Specialty Insurance Group by 4.6% in the 1st quarter. Arizona State Retirement System now owns 10,329 shares of the company’s stock valued at $547,000 after buying an additional 451 shares during the period. US Bancorp DE increased its holdings in Skyward Specialty Insurance Group by 8.2% in the 1st quarter. US Bancorp DE now owns 5,935 shares of the company’s stock valued at $314,000 after buying an additional 451 shares during the period. Cetera Investment Advisers increased its holdings in Skyward Specialty Insurance Group by 6.2% in the 1st quarter. Cetera Investment Advisers now owns 9,641 shares of the company’s stock valued at $510,000 after buying an additional 566 shares during the period. Finally, Moran Wealth Management LLC increased its holdings in Skyward Specialty Insurance Group by 6.2% in the 1st quarter. Moran Wealth Management LLC now owns 10,032 shares of the company’s stock valued at $531,000 after buying an additional 585 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Price Performance

Skyward Specialty Insurance Group stock opened at $57.33 on Friday. The firm has a 50-day moving average of $58.75 and a 200-day moving average of $52.52. Skyward Specialty Insurance Group has a one year low of $34.10 and a one year high of $65.05. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 19.11 and a beta of 0.79.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Skyward Specialty Insurance Group had a net margin of 10.23% and a return on equity of 16.80%. The company had revenue of $328.53 million during the quarter, compared to the consensus estimate of $310.94 million. During the same quarter last year, the firm posted $0.75 EPS. As a group, sell-side analysts expect that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current year.

Skyward Specialty Insurance Group Company Profile

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.