Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $46.00 at Keefe, Bruyette & Woods

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective increased by research analysts at Keefe, Bruyette & Woods from $44.00 to $46.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 23.46% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Truist Financial upped their price objective 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. Piper Sandler upped their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. BMO Capital Markets upped their price objective on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. Wolfe Research assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Thursday, January 11th. They set an “outperform” rating and a $39.00 price objective for the company. Finally, JMP Securities upped their price objective on shares of Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $40.78.

Skyward Specialty Insurance Group Stock Performance

NASDAQ SKWD traded down $0.35 during mid-day trading on Wednesday, reaching $37.26. 23,220 shares of the stock were exchanged, compared to its average volume of 340,431. The business’s 50 day moving average is $36.32 and its 200-day moving average is $33.50. Skyward Specialty Insurance Group has a 1 year low of $21.76 and a 1 year high of $38.64. The company has a market capitalization of $1.49 billion, a P/E ratio of 13.71 and a beta of 0.68.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 16.81%. The firm had revenue of $264.97 million for the quarter, compared to the consensus estimate of $251.66 million. During the same period in the prior year, the firm posted $0.42 earnings per share. Equities analysts predict that Skyward Specialty Insurance Group will post 2.7 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Mark W. Haushill sold 35,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 261,688 shares in the company, valued at $9,410,300.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Andrew S. Robinson sold 13,407 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $35.63, for a total transaction of $477,691.41. Following the completion of the sale, the chief executive officer now directly owns 61,126 shares in the company, valued at $2,177,919.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark W. Haushill sold 35,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the sale, 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 sold 98,890 shares of company stock worth $3,533,839 over the last three months. Insiders own 8.01% of the company’s stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of SKWD. Amalgamated Bank increased its position in 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 boosted its stake in Skyward Specialty Insurance Group by 54.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock worth $114,000 after buying an additional 1,186 shares during the period. Adalta Capital Management LLC purchased a new position in Skyward Specialty Insurance Group during the third quarter worth about $137,000. International Assets Investment Management LLC purchased a new position in Skyward Specialty Insurance Group during the fourth quarter worth about $161,000. Finally, New York State Common Retirement Fund boosted its stake in 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 worth $189,000 after buying an additional 3,110 shares during the period. 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.