Skyward Specialty Insurance Group (NASDAQ:SKWD) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Skyward Specialty Insurance Group to “Buy” from “Hold.” The stock has a “Moderate Buy” consensus rating, with an average analyst price target of $71.11.
• Shares opened at $61.23, up 1.7%, with a 12-month range of $40.60 to $65.69. The company recently reported quarterly EPS of $1.30, beating estimates of $1.17.
• Institutional ownership is substantial at 94.83%. BlackRock initiated a roughly $214.6 million position, while Wasatch Advisors increased its holdings by nearly 199% during the second quarter.

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

Several other research analysts also recently commented on the stock. Barclays lifted their target price on shares of Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Piper Sandler reissued an "overweight" rating on shares of Skyward Specialty Insurance Group in a research report on Monday, August 24th. TD Cowen upped their price target on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a "hold" rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods upped their price target on shares of Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Finally, Truist Financial raised their price target on Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Skyward Specialty Insurance Group has an average rating of "Moderate Buy" and an average target price of $71.11.

Skyward Specialty Insurance Group Stock Up 1.7%

Shares of NASDAQ SKWD opened at $61.23 on Friday. Skyward Specialty Insurance Group has a 12 month low of $40.60 and a 12 month high of $65.69. The business has a fifty day simple moving average of $57.33 and a 200-day simple moving average of $53.35. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 14.27 and a beta of 0.37.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $706.59 million. As a group, sell-side analysts expect that Skyward Specialty Insurance Group will post 5.00 EPS for the current fiscal year.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Skyward Specialty Insurance Group during the second quarter valued at about $214,576,000. Reinhart Partners LLC. lifted its position in shares of Skyward Specialty Insurance Group by 4.1% in the 2nd quarter. Reinhart Partners LLC. now owns 2,894,407 shares of the company's stock worth $168,889,000 after acquiring an additional 113,623 shares during the period. Wasatch Advisors LP lifted its position in shares of Skyward Specialty Insurance Group by 198.5% in 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 during the period. Dimensional Fund Advisors LP grew its holdings in shares of Skyward Specialty Insurance Group by 4.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 854,789 shares of the company's stock worth $37,337,000 after purchasing an additional 36,997 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Skyward Specialty Insurance Group by 24.6% during the 1st quarter. Royal Bank of Canada now owns 504,858 shares of the company's stock worth $22,052,000 after purchasing an additional 99,786 shares in the last quarter. Institutional investors 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 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.

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