Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Increased to $45.00 by Analysts at JMP Securities

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective raised by equities researchers at JMP Securities from $42.00 to $45.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price objective would indicate a potential upside of 24.83% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. Truist Financial boosted their price objective on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Piper Sandler boosted their price target on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Wolfe Research started coverage on Skyward Specialty Insurance Group in a research report on Thursday, January 11th. They set an “outperform” rating and a $39.00 price objective on the stock. Keefe, Bruyette & Woods lifted their target price on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, BMO Capital Markets upped their price target on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Skyward Specialty Insurance Group presently has an average rating of “Buy” and an average target price of $40.22.

Skyward Specialty Insurance Group Stock Performance

SKWD traded up $0.55 during trading hours on Thursday, reaching $36.05. The company’s stock had a trading volume of 280,283 shares, compared to its average volume of 310,103. The company’s 50-day moving average is $36.18 and its 200-day moving average is $33.21. Skyward Specialty Insurance Group has a 52 week low of $21.21 and a 52 week high of $38.64. The firm has a market cap of $1.44 billion, a PE ratio of 16.06 and a beta of 0.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. The company had revenue of $264.97 million for the quarter, compared to analyst estimates of $251.66 million. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 14.31%. During the same period in the prior year, the firm earned $0.42 earnings per share. Equities analysts anticipate that Skyward Specialty Insurance Group will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, CFO Mark W. Haushill sold 35,000 shares of Skyward Specialty Insurance Group stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $35.96, for a total value of $1,258,600.00. Following the transaction, the chief financial officer now owns 261,688 shares in the company, valued at approximately $9,410,300.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 12,109 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $35.56, for a total transaction of $430,596.04. Following the sale, the chief executive officer now owns 74,533 shares of the company’s stock, valued at $2,650,393.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark W. Haushill sold 35,000 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $35.96, for a total value of $1,258,600.00. Following the completion of the transaction, the chief financial officer now owns 261,688 shares of the company’s stock, valued at $9,410,300.48. The disclosure for this sale can be found here. Insiders have sold a total of 98,890 shares of company stock valued at $3,533,839 in the last ninety days. 8.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank grew its holdings in shares of Skyward Specialty Insurance Group by 90.9% during the third quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock worth $63,000 after purchasing an additional 1,095 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Skyward Specialty Insurance Group by 54.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock worth $114,000 after acquiring an additional 1,186 shares during the last quarter. Adalta Capital Management LLC acquired a new position in Skyward Specialty Insurance Group in the 3rd quarter valued at approximately $137,000. International Assets Investment Management LLC bought a new position in shares of Skyward Specialty Insurance Group during the fourth quarter valued at $161,000. Finally, New York State Common Retirement Fund raised its stake in shares of Skyward Specialty Insurance Group by 82.2% during the third quarter. New York State Common Retirement Fund now owns 6,895 shares of the company’s stock valued at $189,000 after acquiring an additional 3,110 shares during the last quarter. 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.