Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately bullish: Twelve brokerages rate Skyward Specialty Insurance Group a consensus “Moderate Buy,” including nine buys, two holds, and one strong buy. The average 12-month price target is $70, above the recent $56.74 share price.
• Several analysts recently raised their price targets, including Keefe, Bruyette & Woods to $75, Barclays to $68, and TD Cowen to $65; the stock has also received recent upgrades to “buy” and “strong buy.”
• Institutional investors own 94.83% of the company. In its latest quarter, Skyward reported adjusted earnings of $1.30 per share, beating consensus by $0.13, with a 10.84% net margin and 18.72% return on equity.

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twelve brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $70.00.

Several analysts have recently weighed in on SKWD shares. TD Cowen lifted their target price 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. Barclays increased their price target 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. Wall Street Zen raised Skyward Specialty Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Texas Capital upgraded Skyward Specialty Insurance Group to a "strong-buy" rating in a research report on Tuesday, June 9th. Finally, Keefe, Bruyette & Woods increased their target price on Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in shares of Skyward Specialty Insurance Group by 1.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 17,714 shares of the company's stock valued at $774,000 after buying an additional 228 shares during the period. California State Teachers Retirement System raised its position in shares of Skyward Specialty Insurance Group by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 36,490 shares of the company's stock worth $2,109,000 after buying an additional 341 shares during the period. ProShare Advisors LLC raised its position in shares of Skyward Specialty Insurance Group by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 6,536 shares of the company's stock worth $334,000 after buying an additional 423 shares during the period. Graham Capital Management L.P. boosted its holdings in Skyward Specialty Insurance Group by 2.3% in the fourth quarter. Graham Capital Management L.P. now owns 23,842 shares of the company's stock valued at $1,219,000 after acquiring an additional 536 shares during the last quarter. Finally, Nykredit A S acquired a new position in Skyward Specialty Insurance Group in the second quarter valued at $37,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Skyward Specialty Insurance Group Price Performance

Skyward Specialty Insurance Group stock opened at $56.74 on Monday. The business has a 50 day simple moving average of $59.22 and a 200-day simple moving average of $51.36. Skyward Specialty Insurance Group has a 12 month low of $40.60 and a 12 month high of $65.69. The stock has a market capitalization of $2.52 billion, a PE ratio of 13.23 and a beta of 0.33.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.13. The firm had revenue of $489.53 million for the quarter, compared to analyst estimates of $706.59 million. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 18.72%. As a group, equities research analysts anticipate that Skyward Specialty Insurance Group will post 4.98 EPS for the current year.

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 specialty risks that may not be fully addressed by standard commercial insurance products.

Its offerings include commercial property and casualty insurance, professional liability, general liability, workers' compensation, commercial automobile coverage, surety, accident and health insurance, and other specialty solutions.

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