Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $47.00 at Truist Financial

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) had its target price lifted by research analysts at Truist Financial from $44.00 to $47.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price objective points to a potential upside of 25.07% from the company's current price.

A number of other research firms have also commented on SKWD. BMO Capital Markets increased their price target on 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 Skyward Specialty Insurance Group in a research note on Thursday, January 11th. They issued an "outperform" rating and a $39.00 target price for the company. Keefe, Bruyette & Woods upped their price target 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. JMP Securities raised their price objective on shares of Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the company a "market outperform" rating in a research report on Thursday. Finally, Piper Sandler upped their target price on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an "overweight" rating in a research report on Monday, April 1st. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $40.56.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD stock traded up $1.81 during mid-day trading on Friday, reaching $37.58. The company's stock had a trading volume of 437,313 shares, compared to its average volume of 315,830. The firm's 50-day moving average is $36.20 and its two-hundred day moving average is $33.25. The company has a market cap of $1.50 billion, a P/E ratio of 13.82 and a beta of 0.68. Skyward Specialty Insurance Group has a 1-year low of $21.21 and a 1-year high of $38.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 16.81%. The business had revenue of $264.97 million for the quarter, compared to analysts' expectations of $251.66 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Sell-side analysts anticipate that Skyward Specialty Insurance Group will post 2.64 EPS for the current year.

Insider Activity

In related news, CEO Andrew S. Robinson sold 13,374 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $35.70, for a total transaction of $477,451.80. Following the transaction, the chief executive officer now owns 96,883 shares of the company's stock, valued at approximately $3,458,723.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Andrew S. Robinson sold 13,407 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $35.63, for a total value of $477,691.41. Following the sale, the chief executive officer now directly owns 61,126 shares of the company's stock, valued at approximately $2,177,919.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew S. Robinson sold 13,374 shares of the company's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total value of $477,451.80. Following the transaction, the chief executive officer now directly owns 96,883 shares of the company's stock, valued at $3,458,723.10. The disclosure for this sale can be found here. Insiders sold a total of 98,890 shares of company stock valued at $3,533,839 in the last ninety days. 8.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds have recently modified their holdings of SKWD. Amalgamated Bank boosted its stake in shares of Skyward Specialty Insurance Group by 90.9% during the 3rd quarter. Amalgamated Bank now owns 2,300 shares of the company's stock worth $63,000 after acquiring an additional 1,095 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Skyward Specialty Insurance Group by 54.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company's stock worth $114,000 after purchasing an additional 1,186 shares during the period. Diversified Trust Co increased its holdings in shares of Skyward Specialty Insurance Group by 21.1% in the fourth quarter. Diversified Trust Co now owns 9,325 shares of the company's stock valued at $316,000 after purchasing an additional 1,625 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Skyward Specialty Insurance Group by 82.2% in the third quarter. New York State Common Retirement Fund now owns 6,895 shares of the company's stock valued at $189,000 after purchasing an additional 3,110 shares during the period. Finally, Jump Financial LLC lifted its stake in shares of Skyward Specialty Insurance Group by 10.2% during the 4th quarter. Jump Financial LLC now owns 50,185 shares of the company's stock worth $1,700,000 after buying an additional 4,642 shares during the last quarter. Institutional investors 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.