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

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has earned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $60.8750.

SKWD has been the topic of a number of research reports. Wall Street Zen lowered shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods raised their price target on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 29th. Finally, Piper Sandler decreased their price target on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, August 1st.

Insiders Place Their Bets

In related news, CFO Mark W. Haushill sold 52,748 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $58.76, for a total value of $3,099,472.48. Following the transaction, the chief financial officer directly owned 133,629 shares of the company’s stock, valued at approximately $7,852,040.04. This trade represents a 28.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System lifted its stake in Skyward Specialty Insurance Group by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 36,490 shares of the company’s stock worth $2,109,000 after purchasing an additional 341 shares in the last quarter. Arizona State Retirement System lifted its stake 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 worth $547,000 after purchasing an additional 451 shares in the last quarter. US Bancorp DE lifted its stake 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 worth $314,000 after purchasing an additional 451 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in Skyward Specialty Insurance Group by 5.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 8,516 shares of the company’s stock worth $492,000 after purchasing an additional 460 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Skyward Specialty Insurance Group by 4.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 10,756 shares of the company’s stock worth $622,000 after purchasing an additional 479 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Stock Down 1.0%

NASDAQ:SKWD opened at $48.87 on Thursday. Skyward Specialty Insurance Group has a 52 week low of $37.79 and a 52 week high of $65.05. The stock has a market capitalization of $1.98 billion, a PE ratio of 15.37 and a beta of 0.61. The stock’s 50-day moving average price is $51.43 and its 200-day moving average price is $53.91.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. The firm had revenue of $319.90 million for the quarter, compared to analyst estimates of $324.64 million. Skyward Specialty Insurance Group had a net margin of 10.53% and a return on equity of 16.40%. During the same period last year, the company posted $0.80 EPS. Sell-side analysts expect that Skyward Specialty Insurance Group will post 3.05 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.