Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives Average Rating of “Buy” from Analysts

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has received an average rating of “Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $39.89.

A number of analysts have recently commented on the stock. BMO Capital Markets boosted their target price on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a report on Monday, February 26th. Truist Financial boosted their price objective on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Piper Sandler raised their target price on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods boosted their price target on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Wolfe Research began coverage on Skyward Specialty Insurance Group in a research note on Thursday, January 11th. They issued an “outperform” rating and a $39.00 price target on the stock.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 13,374 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total transaction of $477,451.80. Following the sale, the chief executive officer now directly owns 96,883 shares in the company, valued at approximately $3,458,723.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Mark W. Haushill sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $35.58, for a total transaction of $889,500.00. Following the completion of the transaction, the chief financial officer now directly owns 236,688 shares of the company’s stock, valued at $8,421,359.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew S. Robinson sold 13,374 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $35.70, for a total transaction of $477,451.80. Following the transaction, the chief executive officer now owns 96,883 shares in the company, valued at approximately $3,458,723.10. The disclosure for this sale can be found here. Insiders sold a total of 98,890 shares of company stock worth $3,533,839 in the last three months. Insiders own 8.01% of the company’s stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP lifted its holdings in shares of Skyward Specialty Insurance Group by 87.9% during the 4th quarter. Quarry LP now owns 746 shares of the company’s stock valued at $25,000 after buying an additional 349 shares during the period. Tower Research Capital LLC TRC increased its position in Skyward Specialty Insurance Group by 390.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,032 shares of the company’s stock valued at $52,000 after acquiring an additional 1,618 shares during the last quarter. Amalgamated Bank lifted its holdings in Skyward Specialty Insurance Group by 90.9% in the third quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock valued at $63,000 after acquiring an additional 1,095 shares during the period. New York State Common Retirement Fund purchased a new position in Skyward Specialty Insurance Group in the first quarter worth about $81,000. Finally, California State Teachers Retirement System bought a new stake in shares of Skyward Specialty Insurance Group during the 1st quarter valued at about $84,000. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock opened at $36.24 on Monday. Skyward Specialty Insurance Group has a fifty-two week low of $20.81 and a fifty-two week high of $38.64. The stock’s 50 day simple moving average is $35.85 and its two-hundred day simple moving average is $32.89. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 16.18 and a beta of 0.45.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Tuesday, February 20th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The company had revenue of $321.60 million during the quarter, compared to analysts’ expectations of $320.34 million. Skyward Specialty Insurance Group had a return on equity of 14.31% and a net margin of 9.56%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. On average, analysts predict that Skyward Specialty Insurance Group will post 2.64 earnings per share for the current 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.