Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $48.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price hoisted by Piper Sandler from $46.00 to $48.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also issued reports on the company. Oppenheimer initiated coverage on Skyward Specialty Insurance Group in a research report on Friday, July 12th. They set a market perform rating for the company. JMP Securities upped their price target on shares of Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the stock a market outperform rating in a research report on Tuesday. Keefe, Bruyette & Woods increased their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the stock an outperform rating in a report on Wednesday, May 8th. Finally, Truist Financial upped their target price on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of Moderate Buy and a consensus target price of $43.63.

Skyward Specialty Insurance Group Stock Down 4.4 %

Shares of NASDAQ:SKWD traded down $1.64 on Wednesday, reaching $35.95. 418,672 shares of the company’s stock were exchanged, compared to its average volume of 363,048. The business’s 50-day moving average is $36.86 and its two-hundred day moving average is $35.84. Skyward Specialty Insurance Group has a fifty-two week low of $22.97 and a fifty-two week high of $41.11. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.75 and a beta of 0.61.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Monday, August 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.15. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 18.01%. The firm had revenue of $279.94 million for the quarter, compared to analyst estimates of $282.70 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. Analysts predict that Skyward Specialty Insurance Group will post 2.81 earnings per share for the current fiscal year.

Insider Buying and Selling 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 that occurred on Friday, August 9th. The shares were sold at an average price of $36.87, for a total value of $60,946.11. Following the sale, the director now owns 4,001 shares in the company, valued at $147,516.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SKWD. Vanguard Group Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 109.5% in the third quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company’s stock valued at $41,390,000 after acquiring an additional 790,826 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Skyward Specialty Insurance Group in the fourth quarter valued at approximately $688,000. International Assets Investment Management LLC bought a new position in shares of Skyward Specialty Insurance Group in the fourth quarter valued at approximately $161,000. Allspring Global Investments Holdings LLC boosted its holdings in Skyward Specialty Insurance Group by 223.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 389,530 shares of the company’s stock worth $13,197,000 after buying an additional 269,080 shares in the last quarter. Finally, Strs Ohio bought a new stake in Skyward Specialty Insurance Group during the fourth quarter worth approximately $6,393,000. 94.83% of the stock is currently 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.