Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Given Average Rating of “Moderate Buy” by Analysts

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $43.75.

SKWD has been the subject of a number of research analyst reports. Oppenheimer started coverage on Skyward Specialty Insurance Group in a research note on Friday, July 12th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods raised their target price on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Piper Sandler lifted their target price on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Truist Financial reissued a “buy” rating and issued a $49.00 price target (up from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Finally, William Blair assumed coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They set an “outperform” rating on the stock.

Skyward Specialty Insurance Group Trading Up 2.1 %

Skyward Specialty Insurance Group stock opened at $39.82 on Friday. The firm has a market cap of $1.59 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.73 and a beta of 0.61. Skyward Specialty Insurance Group has a 1-year low of $22.97 and a 1-year high of $41.11. The firm has a 50-day moving average of $37.21 and a 200-day moving average of $36.29.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Monday, August 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.15. The business had revenue of $279.94 million during the quarter, compared to analyst estimates of $282.70 million. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. During the same quarter in the prior year, the company posted $0.42 EPS. Research analysts forecast that Skyward Specialty Insurance Group will post 2.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Katharine Terry sold 1,653 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $36.87, for a total value of $60,946.11. Following the sale, the director now owns 4,001 shares in the company, valued at approximately $147,516.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

Several institutional investors have recently bought and sold shares of the company. Amalgamated Bank boosted its stake in Skyward Specialty Insurance Group by 27.7% during the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after purchasing an additional 279 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Skyward Specialty Insurance Group by 24.2% during the first quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock valued at $111,000 after buying an additional 579 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Skyward Specialty Insurance Group by 54.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock worth $114,000 after buying an additional 1,186 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Skyward Specialty Insurance Group in the 2nd quarter worth about $160,000. Finally, International Assets Investment Management LLC bought a new position in Skyward Specialty Insurance Group during the 4th quarter valued at about $161,000. 94.83% of the stock is 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.