Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives $43.78 Consensus Price Target from Brokerages

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $43.78.

Several brokerages recently issued reports on SKWD. William Blair assumed coverage on shares of Skyward Specialty Insurance Group in a report on Monday, August 19th. They set an “outperform” rating for the company. Piper Sandler boosted their price objective on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Truist Financial reaffirmed a “buy” rating and set a $49.00 target price (up from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. Barclays started coverage on Skyward Specialty Insurance Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $44.00 price target for the company. Finally, JMP Securities raised their price objective on shares of 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.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $36.87, for a total transaction of $60,946.11. Following the completion of the transaction, the director now directly owns 4,001 shares in the company, valued at $147,516.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Large investors have recently bought and sold shares of the company. Amalgamated Bank grew its holdings in shares of Skyward Specialty Insurance Group by 27.7% during the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after buying an additional 279 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in Skyward Specialty Insurance Group by 24.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock valued at $111,000 after acquiring an additional 579 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Skyward Specialty Insurance Group in the 2nd quarter worth approximately $160,000. ProShare Advisors LLC acquired a new position in shares of Skyward Specialty Insurance Group during the 1st quarter worth approximately $200,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Skyward Specialty Insurance Group by 67.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock valued at $204,000 after purchasing an additional 2,270 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock opened at $40.38 on Thursday. The business’s 50-day simple moving average is $38.98 and its two-hundred day simple moving average is $37.18. The company has a market cap of $1.61 billion, a PE ratio of 14.85, a PEG ratio of 0.73 and a beta of 0.60. Skyward Specialty Insurance Group has a fifty-two week low of $26.81 and a fifty-two week high of $42.26.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.15. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. The company had revenue of $279.94 million for the quarter, compared to the consensus estimate of $282.70 million. During the same quarter in the prior year, the company earned $0.42 EPS. As a group, analysts predict that Skyward Specialty Insurance Group will post 2.96 EPS for the current fiscal 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.