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

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Three 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 company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $46.89.

SKWD has been the topic of a number of research reports. Barclays raised their price target on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. William Blair started coverage on Skyward Specialty Insurance Group in a research note on Monday, August 19th. They issued an “outperform” rating on the stock. JMP Securities lifted their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Oppenheimer started coverage on Skyward Specialty Insurance Group in a research note on Friday, July 12th. They issued a “market perform” rating on the stock. Finally, Piper Sandler lifted their target price on 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.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP acquired a new stake in Skyward Specialty Insurance Group in the third quarter worth approximately $2,690,000. Victory Capital Management Inc. lifted its position in Skyward Specialty Insurance Group by 12.9% in the third quarter. Victory Capital Management Inc. now owns 743,073 shares of the company’s stock worth $30,265,000 after purchasing an additional 84,623 shares during the period. Chartwell Investment Partners LLC lifted its position in Skyward Specialty Insurance Group by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 38,037 shares of the company’s stock worth $1,549,000 after purchasing an additional 306 shares during the period. Principal Financial Group Inc. lifted its position in Skyward Specialty Insurance Group by 49.8% in the third quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock worth $4,240,000 after purchasing an additional 34,612 shares during the period. Finally, Callahan Advisors LLC lifted its position in Skyward Specialty Insurance Group by 8.6% in the third quarter. Callahan Advisors LLC now owns 50,254 shares of the company’s stock worth $2,047,000 after purchasing an additional 3,988 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Stock Performance

SKWD opened at $47.50 on Friday. Skyward Specialty Insurance Group has a one year low of $29.40 and a one year high of $48.40. The company has a market cap of $1.90 billion, a P/E ratio of 14.48, a PEG ratio of 0.79 and a beta of 0.53. The business’s 50-day simple moving average is $42.69 and its 200-day simple moving average is $38.92.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The firm had revenue of $300.89 million for the quarter, compared to the consensus estimate of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 17.01% and a net margin of 12.24%. During the same quarter last year, the business posted $0.65 EPS. As a group, analysts predict that Skyward Specialty Insurance Group will post 3.03 earnings per share 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.