Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Increased to $47.00 by Analysts at JMP Securities

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price hoisted by JMP Securities from $45.00 to $47.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other analysts have also recently issued reports on SKWD. Truist Financial increased their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Piper Sandler increased their price target on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an overweight rating in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the company an outperform rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Buy and an average target price of $42.75.

Skyward Specialty Insurance Group Price Performance

NASDAQ:SKWD opened at $36.10 on Monday. Skyward Specialty Insurance Group has a one year low of $22.97 and a one year high of $39.16. The business has a fifty day moving average price of $36.11 and a 200-day moving average price of $34.98. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 13.27 and a beta of 0.63.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $264.97 million for the quarter, compared to analysts’ expectations of $251.66 million. Skyward Specialty Insurance Group had a return on equity of 15.98% and a net margin of 11.16%. During the same period in the previous year, the firm earned $0.42 EPS. On average, equities research analysts expect that Skyward Specialty Insurance Group will post 2.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Corp Westaim sold 5,060,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $36.50, for a total value of $184,690,000.00. Following the completion of the transaction, the insider now owns 1,919,639 shares in the company, valued at $70,066,823.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Andrew S. Robinson sold 23,533 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $37.21, for a total transaction of $875,662.93. Following the completion of the sale, the chief executive officer now directly owns 83,154 shares of the company’s stock, valued at $3,094,160.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Corp Westaim sold 5,060,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $36.50, for a total transaction of $184,690,000.00. Following the completion of the transaction, the insider now owns 1,919,639 shares in the company, valued at $70,066,823.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,095,277 shares of company stock worth $186,000,945. Corporate insiders own 8.01% of the company’s stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Skyward Specialty Insurance Group by 15.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 232,644 shares of the company’s stock valued at $7,882,000 after acquiring an additional 30,746 shares in the last quarter. Vanguard Group Inc. raised its position in Skyward Specialty Insurance Group by 109.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company’s stock valued at $41,390,000 after purchasing an additional 790,826 shares in the last quarter. Redwood Investments LLC bought a new stake in Skyward Specialty Insurance Group during the 4th quarter valued at $2,890,000. Strs Ohio bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth $6,393,000. Finally, Trexquant Investment LP purchased a new position in shares of Skyward Specialty Insurance Group during the third quarter valued at $455,000. Institutional investors own 94.83% of the company’s stock.

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.