Piper Sandler Raises Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $46.00

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) had its target price increased by research analysts at Piper Sandler from $43.00 to $46.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's target price would indicate a potential upside of 23.42% from the stock's previous close.

Several other analysts also recently weighed in on the stock. Raymond James lifted their price objective on shares of Skyward Specialty Insurance Group from $36.00 to $40.00 and gave the company a "strong-buy" rating in a research report on Tuesday, December 12th. BMO Capital Markets boosted 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 report on Monday, February 26th. Wolfe Research assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Thursday, January 11th. They set an "outperform" rating and a $39.00 price target on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Skyward Specialty Insurance Group from $41.00 to $43.00 and gave the stock an "outperform" rating in a research report on Friday, February 23rd. Finally, Jefferies Financial Group began coverage on shares of Skyward Specialty Insurance Group in a research note on Tuesday, December 12th. They issued a "buy" rating and a $40.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $39.56.

Skyward Specialty Insurance Group Trading Down 0.4 %

SKWD stock traded down $0.14 during mid-day trading on Monday, hitting $37.27. 250,197 shares of the company were exchanged, compared to its average volume of 317,793. The company has a market capitalization of $1.40 billion, a PE ratio of 16.64 and a beta of 0.45. Skyward Specialty Insurance Group has a twelve month low of $19.70 and a twelve month high of $37.80. The firm has a fifty day simple moving average of $34.25 and a 200 day simple moving average of $32.00.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.61 earnings per share (EPS) for the quarter, topping 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 company had revenue of $321.60 million for the quarter, compared to the consensus estimate of $320.34 million. During the same period last year, the firm posted $0.36 EPS. The company's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Skyward Specialty Insurance Group will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 261,688 shares in the company, valued at approximately $9,410,300.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Mark W. Haushill sold 25,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $35.58, for a total value of $889,500.00. Following the completion of the sale, the chief financial officer now owns 236,688 shares of the company's stock, valued at approximately $8,421,359.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark W. Haushill sold 35,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $35.96, for a total value of $1,258,600.00. Following the completion of the sale, the chief financial officer now directly owns 261,688 shares of the company's stock, valued at approximately $9,410,300.48. The disclosure for this sale can be found here. Insiders have sold a total of 98,890 shares of company stock worth $3,533,839 in the last 90 days.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently modified their holdings of SKWD. Quarry LP raised its stake in Skyward Specialty Insurance Group by 87.9% in the fourth quarter. Quarry LP now owns 746 shares of the company's stock valued at $25,000 after purchasing an additional 349 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Skyward Specialty Insurance Group by 390.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,032 shares of the company's stock valued at $52,000 after purchasing an additional 1,618 shares in the last quarter. Amalgamated Bank raised its stake in Skyward Specialty Insurance Group by 90.9% during the third quarter. Amalgamated Bank now owns 2,300 shares of the company's stock worth $63,000 after acquiring an additional 1,095 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Skyward Specialty Insurance Group during the first quarter worth about $81,000. Finally, California State Teachers Retirement System acquired a new position in Skyward Specialty Insurance Group during the first quarter worth about $84,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Skyward Specialty Insurance Group Company Profile

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.