Brokerages Set Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Price Target at $46.89

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $46.89.

A number of equities analysts have weighed in on the company. JMP Securities upped their price target on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Barclays raised their price target on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Raymond James raised their target price on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 5th.

Skyward Specialty Insurance Group Trading Down 5.3 %

Shares of SKWD stock opened at $46.47 on Friday. The company has a market cap of $1.86 billion, a PE ratio of 14.17, a P/E/G ratio of 0.95 and a beta of 0.89. The company’s fifty day simple moving average is $50.25 and its 200-day simple moving average is $43.30. Skyward Specialty Insurance Group has a 52 week low of $29.40 and a 52 week high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The company had revenue of $300.89 million for the quarter, compared to analyst estimates of $292.43 million. During the same period last year, the company posted $0.65 earnings per share. Equities research analysts expect that Skyward Specialty Insurance Group will post 3.06 EPS for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In other news, Director James Charles Hays sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total value of $1,350,000.00. Following the completion of the sale, the director now directly owns 747,261 shares in the company, valued at approximately $40,352,094. The trade was a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of Skyward Specialty Insurance Group by 32.9% during the third quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company’s stock worth $3,515,000 after purchasing an additional 21,346 shares during the period. Principal Financial Group Inc. grew its position in shares of Skyward Specialty Insurance Group by 49.8% during the 3rd quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock valued at $4,240,000 after buying an additional 34,612 shares during the last quarter. Franklin Resources Inc. raised its stake in Skyward Specialty Insurance Group by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock worth $45,506,000 after acquiring an additional 158,679 shares during the period. Barclays PLC lifted its holdings in Skyward Specialty Insurance Group by 277.7% in the third quarter. Barclays PLC now owns 64,032 shares of the company’s stock worth $2,608,000 after acquiring an additional 47,081 shares during the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in Skyward Specialty Insurance Group in the third quarter valued at approximately $297,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.