JMP Securities Raises Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $42.00

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) had its target price lifted by JMP Securities from $40.00 to $42.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. JMP Securities' target price suggests a potential upside of 17.42% from the stock's current price.

A number of other equities analysts also recently weighed in on the stock. Truist Financial increased their price target 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. Piper Sandler increased 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, April 1st. BMO Capital Markets increased 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. Wolfe Research began coverage on shares of Skyward Specialty Insurance Group in a research report on Thursday, January 11th. They issued an "outperform" rating and a $39.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $39.89.

Skyward Specialty Insurance Group Stock Down 0.2 %

Shares of SKWD traded down $0.06 on Monday, hitting $35.77. 185,663 shares of the stock traded hands, compared to its average volume of 314,869. The firm has a market capitalization of $1.43 billion, a P/E ratio of 16.12 and a beta of 0.45. The stock's 50 day moving average is $35.33 and its two-hundred day moving average is $32.62. Skyward Specialty Insurance Group has a 1 year low of $20.81 and a 1 year high of $38.64.

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 for the quarter, topping analysts' consensus estimates of $0.56 by $0.05. The company had revenue of $321.60 million for the quarter, compared to the consensus estimate of $320.34 million. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 14.31%. Skyward Specialty Insurance Group's revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share. Research analysts forecast that Skyward Specialty Insurance Group will post 2.64 EPS for the current year.

Insider Activity at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 25,000 shares of the firm's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $35.58, for a total transaction of $889,500.00. Following the completion of the sale, the chief financial officer now directly owns 236,688 shares of the company's stock, valued at approximately $8,421,359.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Mark W. Haushill sold 25,000 shares of the firm's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $35.58, for a total transaction of $889,500.00. Following the completion of the sale, the chief financial officer now directly owns 236,688 shares of the company's stock, valued at approximately $8,421,359.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark W. Haushill sold 35,000 shares of the firm'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 directly owns 261,688 shares of the company's stock, valued at $9,410,300.48. The disclosure for this sale can be found here. In the last three months, insiders sold 98,890 shares of company stock valued at $3,533,839. Corporate insiders own 8.01% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Skyward Specialty Insurance Group by 109.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company's stock worth $41,390,000 after acquiring an additional 790,826 shares in the last quarter. Redwood Investments LLC acquired a new position in Skyward Specialty Insurance Group during the 4th quarter worth $2,890,000. DekaBank Deutsche Girozentrale acquired a new position in Skyward Specialty Insurance Group during the 3rd quarter worth $396,000. ClariVest Asset Management LLC acquired a new position in Skyward Specialty Insurance Group during the 3rd quarter worth $1,106,000. Finally, Barclays PLC grew its holdings in Skyward Specialty Insurance Group by 263.2% during the 3rd quarter. Barclays PLC now owns 16,494 shares of the company's stock worth $451,000 after acquiring an additional 11,953 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, 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.