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

Key Points

• Analysts maintain a moderately bullish outlook: Ten firms rate Skyward Specialty Insurance Group an average “Moderate Buy,” with seven buys, two holds, and one strong buy. The average 12-month price target is $71.11.
• Institutional ownership is substantial: Institutional investors and hedge funds own 94.83% of the company, with BlackRock establishing a new position worth approximately $214.6 million and Wasatch Advisors significantly increasing its stake.
• Recent performance was mixed: Shares opened at $59.31, while quarterly EPS of $1.30 exceeded the $1.17 consensus estimate. Revenue of $489.53 million, however, came in below analysts’ $706.59 million expectation.

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $71.11.

A number of research firms recently commented on SKWD. Weiss Ratings upgraded Skyward Specialty Insurance Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 25th. Piper Sandler reissued an "overweight" rating on shares of Skyward Specialty Insurance Group in a research report on Monday, August 24th. TD Cowen increased their price target on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the stock a "hold" rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Skyward Specialty Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Keefe, Bruyette & Woods lifted 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.

Institutional Trading of Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Skyward Specialty Insurance Group during the 2nd quarter valued at about $214,576,000. Reinhart Partners LLC. lifted its holdings in 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 purchasing an additional 113,623 shares during the last quarter. Wasatch Advisors LP lifted its holdings in 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 purchasing an additional 634,708 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Skyward Specialty Insurance Group by 4.5% during the first 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 during the period. Finally, GW&K Investment Management LLC boosted its position in Skyward Specialty Insurance Group by 68.5% during the fourth quarter. GW&K Investment Management LLC now owns 604,678 shares of the company's stock worth $30,905,000 after purchasing an additional 245,799 shares during the period. Institutional investors and hedge funds own 94.83% of the company's stock.

Skyward Specialty Insurance Group Trading Up 3.2%

NASDAQ SKWD opened at $59.31 on Friday. Skyward Specialty Insurance Group has a 1-year low of $40.60 and a 1-year high of $65.69. The firm's fifty day simple moving average is $57.66 and its 200-day simple moving average is $52.71. The company has a market capitalization of $2.63 billion, a PE ratio of 13.83 and a beta of 0.37.

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

About Skyward Specialty Insurance Group

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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