Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock Has Consensus Target Price of $71.11 According to Brokerages

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have been given an average rating of “Moderate Buy” by the ten brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $71.11.

Several research analysts recently commented on SKWD shares. Keefe, Bruyette & Woods raised their price target on shares of Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Barclays increased their price objective on shares of Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Skyward Specialty Insurance Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 25th. TD Cowen lifted their target price on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday.

Skyward Specialty Insurance Group Price Performance

NASDAQ SKWD opened at $58.32 on Friday. The firm has a market capitalization of $2.59 billion, a P/E ratio of 13.59 and a beta of 0.37. Skyward Specialty Insurance Group has a 1-year low of $40.60 and a 1-year high of $65.69. The business’s 50-day simple moving average is $57.62 and its 200-day simple moving average is $52.82.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, August 4th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The business had revenue of $489.53 million during the quarter, compared to analysts’ expectations of $706.59 million. Skyward Specialty Insurance Group had a return on equity of 18.72% and a net margin of 10.84%. On average, equities research analysts expect that Skyward Specialty Insurance Group will post 4.98 EPS for the current fiscal year.

Institutional Trading of Skyward Specialty Insurance Group

Several large investors have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. raised its position in Skyward Specialty Insurance Group by 8.0% in the second quarter. Baird Financial Group Inc. now owns 10,016 shares of the company’s stock valued at $584,000 after purchasing an additional 746 shares during the period. Arcus Capital Partners LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the second quarter worth about $350,000. Arizona State Retirement System boosted its position in shares of Skyward Specialty Insurance Group by 10.5% in the second quarter. Arizona State Retirement System now owns 11,062 shares of the company’s stock worth $645,000 after buying an additional 1,054 shares during the period. Nykredit A S acquired a new stake in shares of Skyward Specialty Insurance Group in the second quarter valued at about $37,000. Finally, Corient Private Wealth LP grew its stake in shares of Skyward Specialty Insurance Group by 46.7% in the second quarter. Corient Private Wealth LP now owns 49,007 shares of the company’s stock valued at $2,860,000 after buying an additional 15,597 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc is a specialty property and casualty insurance company headquartered in Houston, Texas. Through its insurance subsidiaries, the company provides customized coverage for businesses and other commercial policyholders, focusing on risks that may require specialized underwriting and claims expertise.

Its products and programs include commercial property and casualty insurance, workers’ compensation, commercial auto, general and professional liability, excess and surplus lines, healthcare-related coverage, surety, and other specialty insurance solutions.