Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $61.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective hoisted by Truist Financial from $54.00 to $61.00 in a report issued on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Piper Sandler reduced their price target on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Keefe, Bruyette & Woods lifted their target price on shares of Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a “hold” rating and a $43.00 target price for the company. JMP Securities restated a “market outperform” rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Finally, Barclays lifted their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Skyward Specialty Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Skyward Specialty Insurance Group Stock Down 0.4 %

SKWD stock opened at $52.02 on Thursday. The company has a 50 day moving average of $47.44 and a two-hundred day moving average of $46.06. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 0.81 and a beta of 0.83. Skyward Specialty Insurance Group has a 12-month low of $33.27 and a 12-month high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $304.40 million for the quarter, compared to the consensus estimate of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. On average, research analysts anticipate that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Insider Buying and Selling

In other news, insider Thomas N. Schmitt sold 546 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $46.85, for a total value of $25,580.10. Following the sale, the insider now directly owns 10,246 shares of the company’s stock, valued at approximately $480,025.10. This trade represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sandip A. Kapadia sold 908 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $46.98, for a total value of $42,657.84. Following the transaction, the executive vice president now directly owns 10,371 shares of the company’s stock, valued at $487,229.58. This represents a 8.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,318 shares of company stock worth $2,098,866 in the last quarter. 8.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC raised its stake in Skyward Specialty Insurance Group by 756.1% during the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after purchasing an additional 809 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Skyward Specialty Insurance Group in the 3rd quarter worth $41,000. ORG Wealth Partners LLC bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth about $61,000. Quarry LP raised 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 valued at $56,000 after buying an additional 879 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Skyward Specialty Insurance Group by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after buying an additional 247 shares during the period. 94.83% of the stock is owned by institutional investors.

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.