Skyward Specialty Insurance Group (NASDAQ:SKWD) Earns Hold Rating from Analysts at TD Cowen

Equities research analysts at TD Cowen initiated coverage on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) in a research report issued on Monday, Marketbeat reports. The firm set a “hold” rating and a $43.00 price target on the stock. TD Cowen’s target price indicates a potential downside of 3.09% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Raymond James boosted their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 5th. Jefferies Financial Group upped their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JMP Securities raised their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays boosted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.22.

Skyward Specialty Insurance Group Trading Up 3.2 %

SKWD opened at $44.37 on Monday. The business has a 50 day moving average of $50.27 and a 200-day moving average of $43.85. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 0.95 and a beta of 0.89. Skyward Specialty Insurance Group has a 1-year low of $29.40 and a 1-year high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $300.89 million during the quarter, compared to the consensus estimate of $292.43 million. During the same period in the prior year, the firm earned $0.65 EPS. Equities analysts predict that Skyward Specialty Insurance Group will post 3.06 EPS for the current year.

Insider Activity

In related news, CEO Andrew S. Robinson sold 6,010 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total transaction of $296,713.70. Following the completion of the sale, the chief executive officer now directly owns 77,144 shares of the company’s stock, valued at $3,808,599.28. This trade represents a 7.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Charles Hays sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total value of $1,350,000.00. Following the completion of the transaction, the director now owns 747,261 shares of the company’s stock, valued at approximately $40,352,094. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,318 shares of company stock worth $2,098,866. Corporate insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SKWD. Arcadia Investment Management Corp MI acquired a new position in Skyward Specialty Insurance Group during the 3rd quarter worth about $41,000. Amalgamated Bank raised its stake in shares of Skyward Specialty Insurance Group by 27.7% in the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after acquiring an additional 279 shares during the last quarter. Quarry LP lifted its position in shares of Skyward Specialty Insurance Group by 176.9% during the third quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after purchasing an additional 879 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $61,000. Finally, CWM LLC increased its holdings in shares of Skyward Specialty Insurance Group by 3,103.1% in the third quarter. CWM LLC now owns 4,132 shares of the company’s stock valued at $168,000 after purchasing an additional 4,003 shares in the last quarter. 94.83% of the stock is currently 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.