Skyward Specialty Insurance Group (NASDAQ:SKWD) Shares Climb 5.4% - Time to Buy?

Key Points

• Skyward Specialty shares rose 5.4% to about $63.03, though trading volume was 60% below its daily average.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $70.70; individual targets cited range from $64 to $75.
• The insurer beat quarterly EPS expectations, reporting $1.28 versus the $1.22 consensus. It posted $455.34 million in revenue, below the stated $753.93 million estimate.

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) rose 5.4% on Tuesday. The company traded as high as $63.16 and last traded at $63.0260. Approximately 189,016 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 471,063 shares. The stock had previously closed at $59.80.

Wall Street Analyst Weigh In

SKWD has been the subject of a number of research analyst reports. TD Cowen upped their price objective on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a "hold" rating in a research note on Tuesday, August 11th. Barclays lifted their target price on shares of Skyward Specialty Insurance Group from $68.00 to $71.00 and gave the company an "overweight" rating in a report on Friday. Keefe, Bruyette & Woods raised their price objective on Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Weiss Ratings cut Skyward Specialty Insurance Group from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, October 30th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $64.00 target price on shares of Skyward Specialty Insurance Group in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of "Moderate Buy" and an average target price of $70.70.

Skyward Specialty Insurance Group Price Performance

The stock has a 50 day moving average price of $58.02 and a two-hundred day moving average price of $52.07. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 14.76 and a beta of 0.32.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.06. Skyward Specialty Insurance Group had a return on equity of 18.72% and a net margin of 10.84%. The business had revenue of $455.34 million during the quarter, compared to the consensus estimate of $753.93 million. Sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 5.00 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP grew its position in Skyward Specialty Insurance Group by 186.9% in the 3rd quarter. Allworth Financial LP now owns 459 shares of the company's stock valued at $27,000 after acquiring an additional 299 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Skyward Specialty Insurance Group by 21,933.3% in the 3rd quarter. Global Retirement Partners LLC now owns 661 shares of the company's stock worth $35,000 after buying an additional 658 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Skyward Specialty Insurance Group during the first quarter worth $37,000. Nykredit A S acquired a new position in shares of Skyward Specialty Insurance Group in the 2nd quarter valued at $37,000. Finally, Financial Management Professionals Inc. raised its holdings in shares of Skyward Specialty Insurance Group by 46.7% in the 3rd quarter. Financial Management Professionals Inc. now owns 785 shares of the company's stock valued at $41,000 after buying an additional 250 shares during the period. 94.83% of the stock is currently owned by institutional investors.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc. is a specialty property and casualty insurer that provides coverage for businesses and other organizations with specialized or complex risks. It distributes its products primarily through insurance agents, brokers and other underwriting partners. Its offerings span areas such as casualty, professional liability, property, energy, aviation, agriculture, surety and accident and health insurance. The company also works with program administrators to provide coverage tailored to particular industries and customer needs.

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