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 rating of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $46.89.

A number of brokerages have recently weighed in on SKWD. JMP Securities increased their price objective on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays lifted their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Raymond James increased their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 5th.

Skyward Specialty Insurance Group Stock Down 1.2 %

SKWD stock opened at $50.80 on Friday. Skyward Specialty Insurance Group has a 52 week low of $29.40 and a 52 week high of $55.62. The stock has a market capitalization of $2.04 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 0.95 and a beta of 0.76. The firm has a 50 day moving average of $49.98 and a 200 day moving average of $42.78.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.65 by $0.06. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The business had revenue of $300.89 million during the quarter, compared to the consensus estimate of $292.43 million. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, equities research analysts expect that Skyward Specialty Insurance Group will post 3.06 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James Charles Hays sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the transaction, the director now owns 747,261 shares in the company, valued at approximately $40,352,094. This trade represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.01% of the stock is currently owned by company insiders.

Institutional Trading of Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC increased its holdings in shares of Skyward Specialty Insurance Group by 1.0% during the 3rd quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock worth $52,786,000 after buying an additional 12,484 shares during the last quarter. Driehaus Capital Management LLC increased its stake in Skyward Specialty Insurance Group by 2.8% during the second quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company’s stock worth $45,528,000 after acquiring an additional 34,286 shares during the last quarter. Franklin Resources Inc. raised its position in Skyward Specialty Insurance Group by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock valued at $45,506,000 after purchasing an additional 158,679 shares during the period. American Century Companies Inc. lifted its stake in shares of Skyward Specialty Insurance Group by 9.2% in the 2nd quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock valued at $33,269,000 after purchasing an additional 77,354 shares during the last quarter. Finally, Emerald Advisers LLC grew its holdings in shares of Skyward Specialty Insurance Group by 3.4% during the 3rd quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock worth $35,622,000 after purchasing an additional 28,618 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

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.