Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have been given an average rating of “Moderate Buy” by the eleven research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $44.78.

SKWD has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their target price on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. JMP Securities raised their target price on shares of Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 6th. Truist Financial reissued a “buy” rating and set a $49.00 target price (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. Barclays began coverage on Skyward Specialty Insurance Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $44.00 price target on the stock. Finally, William Blair began coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They set an “outperform” rating for the company.

Skyward Specialty Insurance Group Trading Up 2.9 %

SKWD stock opened at $44.60 on Monday. The firm has a market cap of $1.79 billion, a PE ratio of 15.07, a PEG ratio of 0.81 and a beta of 0.60. Skyward Specialty Insurance Group has a 1 year low of $27.12 and a 1 year high of $44.86. The company has a fifty day simple moving average of $39.98 and a 200 day simple moving average of $37.83.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.15. The company had revenue of $279.94 million during the quarter, compared to analysts’ expectations of $282.70 million. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, analysts forecast that Skyward Specialty Insurance Group will post 2.98 EPS for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of the firm’s stock in a transaction dated 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 owns 4,001 shares in the company, valued at $147,516.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several institutional investors and hedge funds have recently made changes to their positions in SKWD. Amalgamated Bank boosted its position in Skyward Specialty Insurance Group by 27.7% in the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after buying an additional 279 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Skyward Specialty Insurance Group by 24.2% in the first 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 bought a new stake in Skyward Specialty Insurance Group during the 2nd quarter worth approximately $160,000. CWM LLC increased its holdings in Skyward Specialty Insurance Group by 3,103.1% during the 3rd 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. Finally, ProShare Advisors LLC bought a new position in Skyward Specialty Insurance Group in the 1st quarter valued at $200,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.