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

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

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods boosted their price objective on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday. Jefferies Financial Group lowered shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $62.00 to $59.00 in a research note on Friday, April 11th. JMP Securities boosted their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research note on Friday, May 2nd. Finally, Barclays boosted their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a research note on Friday, April 11th.

Insiders Place Their Bets

In related news, insider Thomas N. Schmitt sold 6,300 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the transaction, the insider now owns 3,946 shares in the company, valued at $204,876.32. This represents a 61.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John A. Burkhart III sold 4,832 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the completion of the sale, the insider now owns 17,655 shares in the company, valued at $886,987.20. This represents a 21.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,381 shares of company stock valued at $1,122,592. Insiders own 8.01% of the company's stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of SKWD. Vanguard Group Inc. boosted its position in Skyward Specialty Insurance Group by 10.0% in the first quarter. Vanguard Group Inc. now owns 2,503,156 shares of the company's stock worth $132,467,000 after purchasing an additional 227,921 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Skyward Specialty Insurance Group by 54.0% in the 4th 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 during the period. Invesco Ltd. boosted its holdings in shares of Skyward Specialty Insurance Group by 0.5% in the first quarter. Invesco Ltd. now owns 1,223,229 shares of the company's stock worth $64,733,000 after buying an additional 5,900 shares during the last quarter. Franklin Resources Inc. grew its position in Skyward Specialty Insurance Group by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company's stock valued at $58,860,000 after buying an additional 47,363 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Skyward Specialty Insurance Group by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,094,018 shares of the company's stock valued at $57,896,000 after buying an additional 45,464 shares during the period. 94.83% of the stock is owned by institutional investors.

Skyward Specialty Insurance Group Stock Up 1.8%

Shares of SKWD traded up $1.09 during trading hours on Tuesday, reaching $61.95. 279,611 shares of the company traded hands, compared to its average volume of 372,749. The company's fifty day moving average price is $55.88 and its two-hundred day moving average price is $51.51. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group has a 12 month low of $33.42 and a 12 month high of $63.76.

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 analysts' consensus estimates of $0.78 by $0.12. The firm had revenue of $328.53 million for the quarter, compared to analyst estimates of $310.94 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same quarter in the previous year, the firm posted $0.75 EPS. On average, analysts expect that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

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.