Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Skyward Specialty Insurance Group has a “Moderate Buy” consensus rating from 10 analysts, with seven buys, one strong buy and two holds. The average 12-month price target is $71.11, above the reported share price of $61.13.
• The company’s latest quarterly results exceeded expectations on earnings, reporting $1.30 EPS versus the $1.17 consensus estimate. However, revenue of $489.53 million fell short of analysts’ $706.59 million forecast.
• Institutional investors and hedge funds own approximately 94.83% of SKWD shares, while the stock has traded between $40.60 and $65.69 over the past year and recently rose 3.5%.

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) has received an average recommendation of "Moderate Buy" from the ten brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $71.11.

Several equities analysts have recently weighed in on SKWD shares. Wall Street Zen raised shares of Skyward Specialty Insurance Group from a "hold" rating to a "buy" rating in a research note on Sunday, October 18th. Barclays raised their price target on shares of Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods upped their price objective on Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Weiss Ratings downgraded Skyward Specialty Insurance Group from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday. Finally, Citigroup reissued a "market outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Monday, October 12th.

Skyward Specialty Insurance Group Stock Up 3.5%

Shares of Skyward Specialty Insurance Group stock opened at $61.13 on Tuesday. Skyward Specialty Insurance Group has a twelve month low of $40.60 and a twelve month high of $65.69. The firm has a market cap of $2.71 billion, a PE ratio of 14.25 and a beta of 0.37. The business has a 50-day moving average price of $57.66 and a 200 day moving average price of $51.68.

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

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC purchased a new position in Skyward Specialty Insurance Group during the first quarter worth $37,000. Nykredit A S purchased a new stake in shares of Skyward Specialty Insurance Group during the 2nd quarter valued at $37,000. Financial Management Professionals Inc. grew its position in Skyward Specialty Insurance Group by 46.7% during the third quarter. Financial Management Professionals Inc. now owns 785 shares of the company's stock valued at $41,000 after acquiring an additional 250 shares during the period. Fifth Third Bancorp acquired a new stake in Skyward Specialty Insurance Group during the 1st quarter worth approximately $60,000. Finally, KBC Group NV lifted its holdings in shares of Skyward Specialty Insurance Group by 73.2% during the 1st quarter. KBC Group NV now owns 1,780 shares of the company's stock valued at $78,000 after acquiring an additional 752 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

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 organizations that may be underserved by the standard insurance market.

Its offerings include excess and surplus lines insurance, professional liability, healthcare liability, workers' compensation, surety, commercial property and casualty coverage, specialty programs, and accident and health products.

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