Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Skyward Specialty Insurance Group (NASDAQ:SKWD - Free Report) had its price target lifted by Keefe, Bruyette & Woods from $67.00 to $72.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

SKWD has been the subject of several other reports. Citigroup reissued an "outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Truist Financial increased their price target on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. JMP Securities upped their target price on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a report on Friday, May 2nd. Barclays boosted their price target on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a research report on Friday, April 11th. Finally, Jefferies Financial Group cut shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and cut their target price for the company from $62.00 to $59.00 in a research note on Friday, April 11th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.75.

Skyward Specialty Insurance Group Stock Up 0.7%

Shares of SKWD traded up $0.42 during trading on Thursday, reaching $62.37. The company's stock had a trading volume of 458,438 shares, compared to its average volume of 373,606. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group has a twelve month low of $33.42 and a twelve month high of $63.76. The company has a fifty day moving average of $56.25 and a two-hundred day moving average of $51.68.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. The business had revenue of $328.53 million for the quarter, compared to analyst estimates 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 prior year, the company posted $0.75 EPS. As a group, equities analysts forecast that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Insider Activity

In related news, Director Gena L. Ashe sold 1,000 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.62, for a total transaction of $50,620.00. Following the sale, the director now owns 734 shares in the company, valued at approximately $37,155.08. This represents a 57.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Kirby Hill sold 8,249 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were 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 owns 8,249 shares in the company, valued at $502,116.63. This represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,381 shares of company stock worth $1,122,592 over the last three months. Corporate insiders own 8.01% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Skyward Specialty Insurance Group by 10.0% during the 1st quarter. Vanguard Group Inc. now owns 2,503,156 shares of the company's stock worth $132,467,000 after purchasing an additional 227,921 shares during the last quarter. American Century Companies Inc. grew its holdings in Skyward Specialty Insurance Group by 54.0% during the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock worth $79,744,000 after acquiring an additional 553,389 shares during the period. Invesco Ltd. grew its holdings in Skyward Specialty Insurance Group by 0.5% during the 1st quarter. Invesco Ltd. now owns 1,223,229 shares of the company's stock worth $64,733,000 after acquiring an additional 5,900 shares during the period. Franklin Resources Inc. grew its holdings in Skyward Specialty Insurance Group by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company's stock worth $58,860,000 after acquiring an additional 47,363 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Skyward Specialty Insurance Group by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,094,018 shares of the company's stock valued at $57,896,000 after buying an additional 45,464 shares during the period. 94.83% of the stock is currently owned by institutional investors.

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.