Skyward Specialty Insurance Group (NASDAQ:SKWD) Given New $72.00 Price Target at Keefe, Bruyette & Woods

Skyward Specialty Insurance Group (NASDAQ:SKWD - Free Report) had its price target upped by Keefe, Bruyette & Woods from $67.00 to $72.00 in a research note published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently issued reports on SKWD. Citigroup reaffirmed an "outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Piper Sandler lifted their price objective on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Jefferies Financial Group downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and dropped their price objective for the company from $62.00 to $59.00 in a report on Friday, April 11th. Wolfe Research restated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Finally, JMP Securities increased their price target on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $61.75.

Skyward Specialty Insurance Group Trading Up 2.3%

NASDAQ SKWD traded up $1.47 on Thursday, hitting $64.82. 264,938 shares of the company were exchanged, compared to its average volume of 373,695. Skyward Specialty Insurance Group has a 1-year low of $33.42 and a 1-year high of $66.48. The firm has a 50 day moving average of $56.25 and a two-hundred day moving average of $51.71. The company has a market cap of $2.62 billion, a P/E ratio of 19.76, a P/E/G ratio of 0.81 and a beta of 0.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. The firm had revenue of $328.53 million during the quarter, compared to analysts' expectations of $310.94 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same period in the previous year, the business posted $0.75 EPS. Research analysts anticipate that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Kirby Hill sold 8,249 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $60.87, for a total value of $502,116.63. Following the completion of the sale, the chairman now directly owns 8,249 shares of the company's stock, valued at $502,116.63. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gena L. Ashe sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total value of $50,620.00. Following the transaction, the director now directly owns 734 shares in the company, valued at $37,155.08. The trade was a 57.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,081 shares of company stock valued at $795,496. 8.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Skyward Specialty Insurance Group

Hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC lifted its position in Skyward Specialty Insurance Group by 756.1% during the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock worth $46,000 after acquiring an additional 809 shares during the last quarter. LRI Investments LLC bought a new position in shares of Skyward Specialty Insurance Group during the first quarter worth approximately $67,000. KBC Group NV bought a new position in shares of Skyward Specialty Insurance Group during the first quarter worth approximately $81,000. ORG Wealth Partners LLC boosted its stake in Skyward Specialty Insurance Group by 86.9% in the 1st quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company's stock valued at $123,000 after purchasing an additional 1,057 shares during the period. Finally, State of Wyoming grew its holdings in Skyward Specialty Insurance Group by 52.4% in the 1st quarter. State of Wyoming now owns 2,435 shares of the company's stock valued at $129,000 after buying an additional 837 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc, an insurance holding company, underwrites commercial property and casualty insurance products in the United States. It offers general liability, excess liability, professional liability, commercial auto, group accident and health, property, surety, and workers' compensation insurance products.