Skyward Specialty Insurance Group (NASDAQ:SKWD) Hits New 1-Year High – Here’s What Happened

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $52.03 and last traded at $51.97, with a volume of 6625 shares trading hands. The stock had previously closed at $51.43.

Wall Street Analyst Weigh In

SKWD has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their target price on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Truist Financial reaffirmed a “buy” rating and issued a $49.00 target price (up from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. Raymond James upped their target price on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 5th. William Blair initiated coverage on shares of Skyward Specialty Insurance Group in a report on Monday, August 19th. They issued an “outperform” rating for the company. Finally, Jefferies Financial Group increased their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.89.

Skyward Specialty Insurance Group Stock Up 1.7 %

The firm’s fifty day moving average is $44.53 and its 200-day moving average is $39.91. The stock has a market capitalization of $2.10 billion, a PE ratio of 15.68, a PEG ratio of 0.93 and a beta of 0.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its 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. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The company had revenue of $300.89 million for the quarter, compared to analyst estimates of $292.43 million. During the same period in the prior year, the business posted $0.65 earnings per share. On average, analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKWD. Capital International Investors grew its position in Skyward Specialty Insurance Group by 48.0% during the first quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock worth $82,767,000 after buying an additional 717,972 shares during the period. Marshall Wace LLP acquired a new stake in shares of Skyward Specialty Insurance Group in the second quarter valued at approximately $10,152,000. Dimensional Fund Advisors LP acquired a new stake in shares of Skyward Specialty Insurance Group in the second quarter valued at approximately $8,151,000. Vanguard Group Inc. grew its position in shares of Skyward Specialty Insurance Group by 11.3% in the first quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock valued at $76,458,000 after purchasing an additional 207,744 shares during the last quarter. Finally, Mutual of America Capital Management LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the second quarter valued at approximately $6,568,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.