Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Cut to $55.00 by Analysts at Piper Sandler

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective cut by Piper Sandler from $65.00 to $55.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

SKWD has been the topic of a number of other reports. Zacks Research downgraded shares of Skyward Specialty Insurance Group from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Citigroup reaffirmed a “market outperform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, January 16th. Citizens Jmp set a $80.00 price target on shares of Skyward Specialty Insurance Group in a report on Thursday, December 4th. Weiss Ratings lowered shares of Skyward Specialty Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 11th. Finally, Barclays set a $63.00 price target on shares of Skyward Specialty Insurance Group in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.70.

Skyward Specialty Insurance Group Price Performance

Skyward Specialty Insurance Group stock opened at $45.00 on Thursday. The firm has a market capitalization of $1.82 billion, a P/E ratio of 11.06 and a beta of 0.55. Skyward Specialty Insurance Group has a one year low of $42.45 and a one year high of $65.05. The business has a fifty day moving average price of $46.89 and a 200-day moving average price of $47.51.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Monday, February 23rd. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.21. Skyward Specialty Insurance Group had a return on equity of 18.51% and a net margin of 12.00%.The business had revenue of $385.59 million for the quarter, compared to analysts’ expectations of $380.86 million. During the same quarter in the prior year, the firm 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.

Insider Transactions at Skyward Specialty Insurance Group

In other news, insider Sandip A. Kapadia sold 5,030 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $50.01, for a total value of $251,550.30. Following the completion of the transaction, the insider directly owned 8,059 shares in the company, valued at approximately $403,030.59. This represents a 38.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.01% of the stock is currently owned by company insiders.

Institutional Trading of Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of SKWD. Y Intercept Hong Kong Ltd lifted its position in Skyward Specialty Insurance Group by 407.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 54,384 shares of the company’s stock valued at $2,587,000 after purchasing an additional 43,666 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Skyward Specialty Insurance Group by 116.6% in the second quarter. Squarepoint Ops LLC now owns 89,436 shares of the company’s stock worth $5,169,000 after buying an additional 48,148 shares during the period. Federated Hermes Inc. raised its holdings in Skyward Specialty Insurance Group by 5.5% during the 2nd quarter. Federated Hermes Inc. now owns 490,526 shares of the company’s stock valued at $28,347,000 after buying an additional 25,711 shares during the last quarter. Reinhart Partners LLC. raised its holdings in Skyward Specialty Insurance Group by 68.2% during the 3rd quarter. Reinhart Partners LLC. now owns 1,613,536 shares of the company’s stock valued at $76,740,000 after buying an additional 654,500 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Skyward Specialty Insurance Group by 6.0% during the 2nd quarter. American Century Companies Inc. now owns 598,762 shares of the company’s stock valued at $34,602,000 after buying an additional 34,129 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc (NASDAQ: SKWD) is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.