Skyward Specialty Insurance Group (NASDAQ:SKWD) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) from a buy rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other research analysts have also recently weighed in on the stock. Weiss Ratings upgraded shares of Skyward Specialty Insurance Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 25th. TD Cowen upped their price objective on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, August 11th. Barclays increased their price objective on shares of Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Piper Sandler reiterated an “overweight” rating on shares of Skyward Specialty Insurance Group in a research note on Monday, August 24th. Finally, Truist Financial lifted their target price on shares of Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.11.

Skyward Specialty Insurance Group Price Performance

SKWD opened at $59.88 on Friday. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 13.96 and a beta of 0.37. The firm’s fifty day moving average price is $57.60 and its two-hundred day moving average price is $52.94. Skyward Specialty Insurance Group has a 1 year low of $40.60 and a 1 year high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Tuesday, August 4th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 18.72%. The company had revenue of $489.53 million during the quarter, compared to the consensus estimate of $706.59 million. As a group, equities analysts anticipate that Skyward Specialty Insurance Group will post 4.98 EPS for the current year.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several large investors have recently made changes to their positions in the business. Baird Financial Group Inc. raised its stake in shares of 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 buying an additional 746 shares during the period. Arcus Capital Partners LLC purchased a new position in shares of Skyward Specialty Insurance Group during the 2nd quarter valued at $350,000. Arizona State Retirement System lifted its position in shares of Skyward Specialty Insurance Group by 10.5% during the 2nd quarter. Arizona State Retirement System now owns 11,062 shares of the company’s stock valued at $645,000 after buying an additional 1,054 shares during the last quarter. Nykredit A S bought a new position in shares of Skyward Specialty Insurance Group during the 2nd quarter worth $37,000. Finally, Corient Private Wealth LP grew its stake in shares of Skyward Specialty Insurance Group by 46.7% during the 2nd quarter. Corient Private Wealth LP now owns 49,007 shares of the company’s stock worth $2,860,000 after acquiring an additional 15,597 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Company Profile

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.