Skyward Specialty Insurance Group (NASDAQ:SKWD) Reaches New 52-Week High at $38.17

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $38.17 and last traded at $38.06, with a volume of 111304 shares. The stock had previously closed at $37.94.

Analysts Set New Price Targets

Several research firms have commented on SKWD. Piper Sandler lifted their price target on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an "overweight" rating in a research note on Monday. JMP Securities lifted their price target on shares of Skyward Specialty Insurance Group from $38.00 to $40.00 and gave the stock a "market outperform" rating in a research note on Wednesday, February 21st. Raymond James lifted their price target on shares of Skyward Specialty Insurance Group from $36.00 to $40.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, December 12th. BMO Capital Markets lifted their price target on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a "market perform" rating in a research note on Monday, February 26th. Finally, Truist Financial lifted their target price on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a "buy" rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $39.56.

Skyward Specialty Insurance Group Stock Performance

The stock's 50-day simple moving average is $34.37 and its 200-day simple moving average is $32.08. The firm has a market capitalization of $1.44 billion, a PE ratio of 17.00 and a beta of 0.45.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Tuesday, February 20th. The company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.05. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 15.27%. The firm had revenue of $321.60 million for the quarter, compared to analysts' expectations of $320.34 million. During the same quarter in the previous year, the business posted $0.36 EPS. The company's quarterly revenue was up 21.5% on a year-over-year basis. As a group, analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Mark W. Haushill sold 35,000 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the sale, the chief financial officer now owns 261,688 shares in the company, valued at approximately $9,410,300.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Andrew S. Robinson sold 13,407 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $35.63, for a total value of $477,691.41. Following the transaction, the chief executive officer now owns 61,126 shares in the company, valued at approximately $2,177,919.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Haushill sold 35,000 shares of the company's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the completion of the transaction, the chief financial officer now owns 261,688 shares in the company, valued at approximately $9,410,300.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,890 shares of company stock worth $3,533,839.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of hedge funds have recently bought and sold shares of SKWD. Capital International Investors bought a new position in Skyward Specialty Insurance Group in the 4th quarter worth about $50,632,000. Price T Rowe Associates Inc. MD bought a new position in Skyward Specialty Insurance Group in the 1st quarter worth about $26,911,000. Vanguard Group Inc. boosted its stake in Skyward Specialty Insurance Group by 109.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company's stock worth $41,390,000 after purchasing an additional 790,826 shares in the last quarter. Morgan Stanley raised its position in Skyward Specialty Insurance Group by 1,569.2% in the 3rd quarter. Morgan Stanley now owns 781,199 shares of the company's stock worth $21,374,000 after buying an additional 734,399 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in Skyward Specialty Insurance Group in the 1st quarter worth about $15,417,000. Institutional investors 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.