Skyward Specialty Insurance Group’s (SKWD) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a $60.00 price target on the stock.

SKWD has been the topic of a number of other reports. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a “hold” rating and a $43.00 price target on the stock. Barclays increased 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. Raymond James increased their price target on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods increased their price target on shares of Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Piper Sandler lowered their target price on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $51.44.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ:SKWD opened at $48.73 on Monday. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 0.81 and a beta of 0.83. The firm’s 50 day simple moving average is $47.74 and its 200 day simple moving average is $45.00. Skyward Specialty Insurance Group has a fifty-two week low of $31.18 and a fifty-two week high of $55.62.

Insider Transactions at Skyward Specialty Insurance Group

In other news, insider Thomas N. Schmitt sold 546 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.85, for a total transaction of $25,580.10. Following the completion of the transaction, the insider now directly owns 10,246 shares of the company’s stock, valued at $480,025.10. This trade represents a 5.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Charles Hays sold 25,000 shares of the firm’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 transaction of $1,350,000.00. Following the transaction, the director now directly owns 747,261 shares of the company’s stock, valued at $40,352,094. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,318 shares of company stock valued at $2,098,866 in the last ninety days. 8.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake 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 worth $4,240,000 after acquiring an additional 34,612 shares in the last quarter. Barclays PLC boosted its holdings in shares of Skyward Specialty Insurance Group by 277.7% in the 3rd quarter. Barclays PLC now owns 64,032 shares of the company’s stock valued at $2,608,000 after buying an additional 47,081 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Skyward Specialty Insurance Group by 32.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company’s stock valued at $3,515,000 after buying an additional 21,346 shares during the last quarter. State Street Corp boosted its holdings in shares of Skyward Specialty Insurance Group by 10.8% in the 3rd quarter. State Street Corp now owns 844,233 shares of the company’s stock valued at $34,386,000 after buying an additional 82,328 shares during the last quarter. Finally, Navellier & Associates Inc. acquired a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at approximately $1,051,000. 94.83% of the stock is owned by institutional investors.

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.