Piper Sandler Forecasts Strong Price Appreciation for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) had its target price boosted by stock analysts at Piper Sandler from $55.00 to $68.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price target points to a potential upside of 12.96% from the stock's current price.

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Several other equities analysts also recently commented on SKWD. Wall Street Zen downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Capital One Financial set a $59.00 target price on Skyward Specialty Insurance Group in a research report on Tuesday, June 9th. Weiss Ratings reissued a "hold (c+)" rating on shares of Skyward Specialty Insurance Group in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods raised Skyward Specialty Insurance Group from a "moderate buy" rating to a "strong-buy" rating in a report on Friday, March 13th. Finally, Texas Capital upgraded Skyward Specialty Insurance Group to a "strong-buy" rating in a research note on Tuesday, June 9th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $66.44.

Skyward Specialty Insurance Group Price Performance

SKWD opened at $60.20 on Tuesday. The company has a 50 day simple moving average of $48.97 and a two-hundred day simple moving average of $47.20. The firm has a market cap of $2.44 billion, a P/E ratio of 14.51 and a beta of 0.34. Skyward Specialty Insurance Group has a 1-year low of $40.60 and a 1-year high of $62.20.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.13 by $0.12. The firm had revenue of $475.87 million for the quarter, compared to the consensus estimate of $665.12 million. Skyward Specialty Insurance Group had a net margin of 11.36% and a return on equity of 18.24%. The company's revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm earned $0.90 EPS. Equities analysts anticipate that Skyward Specialty Insurance Group will post 4.93 earnings per share for the current year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director Gena L. Ashe sold 740 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $46.35, for a total transaction of $34,299.00. Following the completion of the transaction, the director owned 4,570 shares in the company, valued at $211,819.50. This trade represents a 13.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Thomas N. Schmitt sold 8,397 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $51.32, for a total value of $430,934.04. Following the completion of the sale, the insider owned 10,353 shares in the company, valued at $531,315.96. This represents a 44.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 8.52% of the company's stock.

Institutional Trading of Skyward Specialty Insurance Group

Hedge funds have recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new position in shares of Skyward Specialty Insurance Group in the fourth quarter valued at $27,000. GAMMA Investing LLC increased its position in Skyward Specialty Insurance Group by 75.8% in the fourth quarter. GAMMA Investing LLC now owns 575 shares of the company's stock worth $29,000 after purchasing an additional 248 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Skyward Specialty Insurance Group during the first quarter valued at $37,000. Quarry LP lifted its position in Skyward Specialty Insurance Group by 558.9% during the third quarter. Quarry LP now owns 995 shares of the company's stock valued at $47,000 after purchasing an additional 844 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Skyward Specialty Insurance Group during the fourth quarter valued at $65,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc NASDAQ: SKWD is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.

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