Skyward Specialty Insurance Group (NASDAQ:SKWD) Given New $80.00 Price Target at Citizens Jmp

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective hoisted by Citizens Jmp from $75.00 to $80.00 in a report released on Thursday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

SKWD has been the subject of a number of other reports. Wall Street Zen raised shares of Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. BMO Capital Markets lifted their price objective on shares of Skyward Specialty Insurance Group from $52.00 to $55.00 and gave the stock a “market perform” rating in a research note on Monday, September 8th. Wolfe Research raised shares of Skyward Specialty Insurance Group to an “outperform” rating in a research note on Monday, September 15th. Piper Sandler raised their target price on shares of Skyward Specialty Insurance Group from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Citigroup restated an “outperform” rating on shares of Skyward Specialty Insurance Group in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.70.

Skyward Specialty Insurance Group Price Performance

SKWD opened at $47.52 on Thursday. The business has a 50 day moving average price of $47.33 and a two-hundred day moving average price of $51.38. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 14.02 and a beta of 0.55. Skyward Specialty Insurance Group has a 1-year low of $41.28 and a 1-year high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.20. Skyward Specialty Insurance Group had a return on equity of 17.30% and a net margin of 10.57%.The business had revenue of $382.53 million during the quarter, compared to analyst estimates of $334.54 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Equities analysts expect that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKWD. Raymond James Financial Inc. grew its stake in shares of Skyward Specialty Insurance Group by 146.5% in the 1st quarter. Raymond James Financial Inc. now owns 155,649 shares of the company’s stock valued at $8,236,000 after buying an additional 92,511 shares in the last quarter. Vanguard Group Inc. raised its position in Skyward Specialty Insurance Group by 10.0% during the first quarter. Vanguard Group Inc. now owns 2,503,156 shares of the company’s stock valued at $132,467,000 after acquiring an additional 227,921 shares in the last quarter. Northern Trust Corp lifted its stake in Skyward Specialty Insurance Group by 18.5% in the first quarter. Northern Trust Corp now owns 462,908 shares of the company’s stock valued at $24,497,000 after acquiring an additional 72,202 shares during the last quarter. Strs Ohio acquired a new stake in Skyward Specialty Insurance Group in the first quarter valued at approximately $6,651,000. Finally, PDT Partners LLC grew its position in Skyward Specialty Insurance Group by 17.7% in the first quarter. PDT Partners LLC now owns 66,371 shares of the company’s stock worth $3,512,000 after acquiring an additional 9,969 shares in the last quarter. 94.83% of the stock is currently 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.