Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $55.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price hoisted by Raymond James from $45.00 to $55.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a strong-buy rating on the stock.

Other research analysts have also recently issued research reports about the company. 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. Oppenheimer started coverage on shares of Skyward Specialty Insurance Group in a research report on Friday, July 12th. They set a “market perform” rating for the company. Piper Sandler upped their price target on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Barclays increased their target price on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, JMP Securities raised their price objective on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. 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 stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $46.89.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock opened at $47.50 on Tuesday. The stock 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. Skyward Specialty Insurance Group has a fifty-two week low of $29.40 and a fifty-two week high of $48.40. The firm’s fifty day moving average price is $42.69 and its 200-day moving average price 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 for the quarter, topping the consensus estimate of $0.65 by $0.06. The firm had revenue of $300.89 million for the quarter, compared to analysts’ expectations of $292.43 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 17.01%. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Sell-side analysts predict that Skyward Specialty Insurance Group will post 3.03 earnings per share for the current year.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently made changes to their positions in SKWD. Arcadia Investment Management Corp MI bought a new stake in shares of Skyward Specialty Insurance Group during the third quarter valued at approximately $41,000. Amalgamated Bank increased its position in shares of Skyward Specialty Insurance Group by 27.7% during the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after acquiring an additional 279 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Skyward Specialty Insurance Group by 24.2% during 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 in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Skyward Specialty Insurance Group during the second quarter valued at approximately $160,000. Finally, CWM LLC increased its position in shares of Skyward Specialty Insurance Group by 3,103.1% during the third quarter. CWM LLC now owns 4,132 shares of the company’s stock valued at $168,000 after acquiring an additional 4,003 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

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.