Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives $61.13 Average Price Target from Analysts

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twelve brokerages that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $61.75.

Several research analysts have weighed in on the company. Truist Financial lifted their target price on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Piper Sandler lifted their target price on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. JMP Securities lifted their target price on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a research note on Friday, May 2nd. Wolfe Research reiterated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Finally, Barclays lifted their target price on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a research note on Friday, April 11th.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD stock traded up $0.42 during midday trading on Tuesday, hitting $62.37. The company had a trading volume of 458,438 shares, compared to its average volume of 373,881. The company's 50 day simple moving average is $56.25 and its 200 day simple moving average is $51.70. Skyward Specialty Insurance Group has a 52-week low of $33.42 and a 52-week high of $63.76. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 0.81 and a beta of 0.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The company had revenue of $328.53 million for the quarter, compared to the consensus estimate of $310.94 million. During the same period last year, the business posted $0.75 EPS. Analysts anticipate that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, Chairman Kirby Hill sold 8,249 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $60.87, for a total transaction of $502,116.63. Following the sale, the chairman now directly owns 8,249 shares in the company, valued at approximately $502,116.63. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John A. Burkhart III sold 4,832 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.24, for a total value of $242,759.68. Following the sale, the insider now owns 17,655 shares in the company, valued at approximately $886,987.20. The trade was a 21.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,381 shares of company stock valued at $1,122,592 over the last quarter. Company insiders own 8.01% of the company's stock.

Institutional Trading of Skyward Specialty Insurance Group

A number of institutional investors have recently bought and sold shares of SKWD. Reinhart Partners LLC. purchased a new stake in Skyward Specialty Insurance Group during the first quarter worth $49,979,000. Capital World Investors purchased a new stake in Skyward Specialty Insurance Group during the fourth quarter worth $41,182,000. American Century Companies Inc. boosted its position in Skyward Specialty Insurance Group by 54.0% during the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock worth $79,744,000 after purchasing an additional 553,389 shares in the last quarter. WCM Investment Management LLC purchased a new stake in Skyward Specialty Insurance Group during the fourth quarter worth $18,084,000. Finally, Swedbank AB purchased a new stake in Skyward Specialty Insurance Group during the fourth quarter worth $15,164,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

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.