Barclays Begins Coverage on Skyward Specialty Insurance Group (NASDAQ:SKWD)

Investment analysts at Barclays assumed coverage on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage set an “equal weight” rating and a $44.00 price target on the stock. Barclays‘s target price would indicate a potential upside of 6.05% from the stock’s previous close.

SKWD has been the subject of several other reports. Piper Sandler upped their price target on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods upped their price target on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. JMP Securities upped their price target on Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 6th. Oppenheimer initiated coverage on Skyward Specialty Insurance Group in a research note on Friday, July 12th. They set a “market perform” rating for the company. Finally, William Blair initiated coverage on Skyward Specialty Insurance Group in a research note on Monday, August 19th. They set an “outperform” rating for the company. Three equities research 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 stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $43.78.

Skyward Specialty Insurance Group Trading Up 3.5 %

Skyward Specialty Insurance Group stock opened at $41.49 on Wednesday. The firm has a market capitalization of $1.66 billion, a P/E ratio of 15.25, a PEG ratio of 0.77 and a beta of 0.60. The stock has a fifty day moving average price of $38.13 and a 200 day moving average price of $36.84. Skyward Specialty Insurance Group has a 52 week low of $22.97 and a 52 week high of $41.98.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Monday, August 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.65 by $0.15. The firm 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 period in the prior year, the firm posted $0.42 earnings per share. As a group, equities analysts predict that Skyward Specialty Insurance Group will post 2.96 EPS for the current year.

Insider Transactions at Skyward Specialty Insurance Group

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in Skyward Specialty Insurance Group by 15.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 232,644 shares of the company’s stock valued at $7,882,000 after purchasing an additional 30,746 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Skyward Specialty Insurance Group in the first quarter valued at about $1,672,000. Allspring Global Investments Holdings LLC boosted its holdings in Skyward Specialty Insurance Group by 19.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock valued at $17,383,000 after purchasing an additional 75,137 shares during the last quarter. Swiss National Bank boosted its holdings in Skyward Specialty Insurance Group by 111.5% in the first quarter. Swiss National Bank now owns 55,000 shares of the company’s stock valued at $2,058,000 after purchasing an additional 29,000 shares during the last quarter. Finally, Capstone Investment Advisors LLC lifted its holdings in Skyward Specialty Insurance Group by 68.3% during the 1st quarter. Capstone Investment Advisors LLC now owns 107,796 shares of the company’s stock worth $4,033,000 after buying an additional 43,739 shares during the last quarter. 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, 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.