Keefe, Bruyette & Woods Issues Positive Forecast for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price lifted by Keefe, Bruyette & Woods from $59.00 to $60.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 24.39% from the company’s current price.

A number of other equities research analysts also recently issued reports on SKWD. TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 price target on the stock. Barclays upped their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Jefferies Financial Group upped their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JMP Securities lifted their price objective on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Finally, Raymond James boosted their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

Skyward Specialty Insurance Group Stock Up 0.7 %

Shares of Skyward Specialty Insurance Group stock traded up $0.33 during mid-day trading on Thursday, hitting $48.24. The stock had a trading volume of 73,317 shares, compared to its average volume of 403,602. The firm has a 50-day moving average of $48.27 and a two-hundred day moving average of $44.62. The firm has a market cap of $1.93 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 0.73 and a beta of 0.84. Skyward Specialty Insurance Group has a 12-month low of $29.76 and a 12-month high of $55.62.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, Director James Charles Hays sold 25,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the transaction, the director now owns 747,261 shares in the company, valued at $40,352,094. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas N. Schmitt sold 637 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $47.81, for a total value of $30,454.97. Following the sale, the insider now owns 10,792 shares of the company’s stock, valued at approximately $515,965.52. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,318 shares of company stock valued at $2,098,866. 8.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in Skyward Specialty Insurance Group during the second quarter worth about $224,000. CWM LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 3,103.1% during the 3rd quarter. CWM LLC now owns 4,132 shares of the company’s stock worth $168,000 after acquiring an additional 4,003 shares during the period. Riverwater Partners LLC bought a new stake in shares of Skyward Specialty Insurance Group during the 3rd quarter worth approximately $1,404,000. Moody Aldrich Partners LLC boosted its position in shares of Skyward Specialty Insurance Group by 66.9% during the 3rd quarter. Moody Aldrich Partners LLC now owns 154,867 shares of the company’s stock worth $6,308,000 after acquiring an additional 62,080 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in Skyward Specialty Insurance Group by 54.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 12,353 shares of the company’s stock valued at $496,000 after acquiring an additional 4,334 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.

About Skyward Specialty Insurance Group

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.