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

Key Points

• Wall Street Zen downgraded Skyward Specialty Insurance Group from “Buy” to “Hold.” The broader analyst consensus remains “Moderate Buy,” with an average price target of $71.60.
• Analyst opinions are mixed: TD Cowen raised its target to $65 but kept a “Hold” rating, while Keefe, Bruyette & Woods raised its target to $75 and maintained “Outperform.”
• The insurer reported quarterly EPS of $1.28, beating the $1.22 consensus estimate, but revenue of $455.34 million fell short of analysts’ $753.93 million forecast.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research firms also recently weighed in on SKWD. TD Cowen increased their target price on 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. Piper Sandler restated an "overweight" rating on shares of Skyward Specialty Insurance Group in a report on Monday, August 24th. Keefe, Bruyette & Woods upped their price objective on shares of Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Citigroup reaffirmed a "market outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Monday, October 12th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $64.00 price objective on shares of Skyward Specialty Insurance Group in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of "Moderate Buy" and an average target price of $71.60.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD opened at $63.02 on Friday. Skyward Specialty Insurance Group has a fifty-two week low of $40.60 and a fifty-two week high of $65.69. The company has a market capitalization of $2.80 billion, a PE ratio of 14.72 and a beta of 0.32. The stock has a fifty day moving average of $58.48 and a two-hundred day moving average of $52.43.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. The business had revenue of $455.34 million for the quarter, compared to analysts' expectations of $753.93 million. Skyward Specialty Insurance Group had a return on equity of 18.70% and a net margin of 10.62%. As a group, equities research analysts forecast that Skyward Specialty Insurance Group will post 4.94 earnings per share for the current fiscal year.

Institutional Trading of Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Skyward Specialty Insurance Group in the second quarter valued at about $214,576,000. Aberdeen Group plc lifted its position in Skyward Specialty Insurance Group by 232.6% during the 3rd quarter. Aberdeen Group plc now owns 1,173,935 shares of the company's stock worth $57,194,000 after acquiring an additional 821,028 shares in the last quarter. Wasatch Advisors LP lifted its position in Skyward Specialty Insurance Group by 198.5% during the 2nd quarter. Wasatch Advisors LP now owns 954,489 shares of the company's stock worth $55,694,000 after acquiring an additional 634,708 shares in the last quarter. Freestone Grove Partners LP acquired a new position in Skyward Specialty Insurance Group during the 2nd quarter worth approximately $21,142,000. Finally, Sei Investments Co. boosted its holdings in Skyward Specialty Insurance Group by 397.5% in the 1st quarter. Sei Investments Co. now owns 433,298 shares of the company's stock worth $18,926,000 after acquiring an additional 346,202 shares during the period. Institutional investors and hedge funds own 94.83% of the company's stock.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc. is a specialty property and casualty insurer that provides coverage for businesses and other organizations with specialized or complex risks. It distributes its products primarily through insurance agents, brokers and other underwriting partners. Its offerings span areas such as casualty, professional liability, property, energy, aviation, agriculture, surety and accident and health insurance. The company also works with program administrators to provide coverage tailored to particular industries and customer needs.

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