Analysts Set Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Target Price at $42.50

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been given an average rating of “Buy” by the eight brokerages that are currently covering the company, Marketbeat reports. One investment 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. The average 1-year price target among brokers that have issued a report on the stock in the last year is $42.50.

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. JMP Securities increased their target price on shares of Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the company a “market outperform” rating in a report on Thursday, May 2nd. BMO Capital Markets increased 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 report on Monday, February 26th. Truist Financial increased their price target on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, Piper Sandler increased their price target on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Monday, April 1st.

Insider Transactions at Skyward Specialty Insurance Group

In other news, major shareholder Corp Westaim sold 5,060,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $36.50, for a total value of $184,690,000.00. Following the completion of the sale, the insider now directly owns 1,919,639 shares of the company’s stock, valued at approximately $70,066,823.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Mark W. Haushill sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $35.58, for a total value of $889,500.00. Following the completion of the sale, the chief financial officer now directly owns 236,688 shares of the company’s stock, valued at approximately $8,421,359.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Corp Westaim sold 5,060,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $36.50, for a total transaction of $184,690,000.00. Following the transaction, the insider now directly owns 1,919,639 shares of the company’s stock, valued at $70,066,823.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,159,167 shares of company stock valued at $188,276,184. Company insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. California State Teachers Retirement System lifted its position in Skyward Specialty Insurance Group by 79.2% during the 1st quarter. California State Teachers Retirement System now owns 28,076 shares of the company’s stock valued at $1,050,000 after acquiring an additional 12,410 shares during the period. Janus Henderson Group PLC lifted its position in Skyward Specialty Insurance Group by 311.2% during the 1st quarter. Janus Henderson Group PLC now owns 27,530 shares of the company’s stock valued at $1,029,000 after acquiring an additional 20,835 shares during the period. Kennedy Capital Management LLC lifted its position in Skyward Specialty Insurance Group by 6.0% during the 1st quarter. Kennedy Capital Management LLC now owns 98,441 shares of the company’s stock valued at $3,683,000 after acquiring an additional 5,565 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Skyward Specialty Insurance Group by 439.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 71,909 shares of the company’s stock valued at $2,691,000 after acquiring an additional 58,578 shares during the period. Finally, Capital International Investors lifted its position in Skyward Specialty Insurance Group by 48.0% during the 1st quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock valued at $82,767,000 after acquiring an additional 717,972 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Stock Performance

SKWD stock opened at $35.76 on Friday. Skyward Specialty Insurance Group has a 52 week low of $21.93 and a 52 week high of $38.64. The firm’s fifty day moving average is $36.46 and its 200 day moving average is $34.13. The firm has a market cap of $1.43 billion, a P/E ratio of 13.15 and a beta of 0.68.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 15.98%. The company had revenue of $264.97 million for the quarter, compared to analyst estimates of $251.66 million. During the same quarter last year, the firm earned $0.42 EPS. As a group, analysts forecast that Skyward Specialty Insurance Group will post 2.78 EPS for the current year.

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.