Brokerages Set Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) PT at $68.64

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $68.6364.

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Capital One Financial set a $59.00 target price on Skyward Specialty Insurance Group in a research report on Tuesday, June 9th. Weiss Ratings raised Skyward Specialty Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 8th. Truist Financial lifted their price target on Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, TD Cowen upped their price objective on Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, August 11th.

Skyward Specialty Insurance Group Trading Up 1.8%

NASDAQ:SKWD opened at $57.92 on Thursday. The firm has a market cap of $2.57 billion, a P/E ratio of 13.50 and a beta of 0.34. The stock’s 50 day simple moving average is $58.70 and its 200-day simple moving average is $50.18. Skyward Specialty Insurance Group has a 12-month low of $40.60 and a 12-month high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. The company had revenue of $489.53 million for the quarter, compared to analysts’ expectations of $706.59 million. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 18.72%. Research analysts forecast that Skyward Specialty Insurance Group will post 4.98 EPS for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In other news, insider Thomas N. Schmitt sold 8,397 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $51.32, for a total transaction of $430,934.04. Following the transaction, the insider directly owned 10,353 shares of the company’s stock, valued at $531,315.96. This represents a 44.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.52% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

A number of institutional investors have recently added to or reduced their stakes in SKWD. BlackRock Inc. purchased a new position in Skyward Specialty Insurance Group in the 2nd quarter valued at approximately $214,576,000. Reinhart Partners LLC. boosted its position in shares of Skyward Specialty Insurance Group by 4.1% in the 2nd quarter. Reinhart Partners LLC. now owns 2,894,407 shares of the company’s stock worth $168,889,000 after buying an additional 113,623 shares in the last quarter. California State Teachers Retirement System grew its stake in Skyward Specialty Insurance Group by 5,684.8% in the 2nd quarter. California State Teachers Retirement System now owns 2,620,674 shares of the company’s stock valued at $152,916,000 after acquiring an additional 2,575,371 shares during the last quarter. Vanguard Group Inc. grew its stake in Skyward Specialty Insurance Group by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 2,555,033 shares of the company’s stock valued at $130,588,000 after acquiring an additional 102,191 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Skyward Specialty Insurance Group by 5.1% during the 4th quarter. Invesco Ltd. now owns 1,451,648 shares of the company’s stock valued at $74,194,000 after acquiring an additional 70,255 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc (NASDAQ: SKWD) is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.