Brokerages Set Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) PT at $60.88

Key Points

• Skyward Specialty Insurance Group has received an average recommendation of "Moderate Buy" from eleven analysts, with a 1-year price target of $60.8750.
• Recent quarterly earnings reported earnings per share of $0.89, exceeding estimates by $0.03, although revenue fell short of expectations at $319.90 million.
• High insider trading activity was reported, including CFO Mark W. Haushill selling over 52,000 shares and Chairman Kirby Hill selling 8,249 shares, indicating notable changes in ownership stakes.

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $60.8750.

SKWD has been the topic of several analyst reports. Wall Street Zen downgraded shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 29th. JMP Securities lifted their price target on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a report on Friday, May 2nd. Piper Sandler lowered their price target on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating on the stock in a report on Friday, August 1st. Finally, Citigroup reaffirmed an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd.

Skyward Specialty Insurance Group Stock Performance

Shares of Skyward Specialty Insurance Group stock traded up $0.56 during trading on Friday, hitting $49.82. The company's stock had a trading volume of 205,937 shares, compared to its average volume of 422,559. The company has a market capitalization of $2.02 billion, a PE ratio of 15.66 and a beta of 0.62. Skyward Specialty Insurance Group has a 52 week low of $35.60 and a 52 week high of $65.05. The company has a fifty day simple moving average of $54.78 and a two-hundred day simple moving average of $53.75.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.03. The business had revenue of $319.90 million during the quarter, compared to analyst estimates of $324.64 million. Skyward Specialty Insurance Group had a net margin of 10.53% and a return on equity of 16.40%. During the same period last year, the business earned $0.80 EPS. As a group, analysts predict that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Insider Activity at Skyward Specialty Insurance Group

In other news, CFO Mark W. Haushill sold 52,748 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $58.76, for a total transaction of $3,099,472.48. Following the transaction, the chief financial officer owned 133,629 shares in the company, valued at $7,852,040.04. This trade represents a 28.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 7.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Hedge funds have recently modified their holdings of the company. LPL Financial LLC grew its holdings in shares of Skyward Specialty Insurance Group by 20.3% in the fourth quarter. LPL Financial LLC now owns 14,093 shares of the company's stock valued at $712,000 after purchasing an additional 2,378 shares during the period. JPMorgan Chase & Co. raised its holdings in Skyward Specialty Insurance Group by 86.1% in the 4th quarter. JPMorgan Chase & Co. now owns 160,647 shares of the company's stock valued at $8,119,000 after buying an additional 74,345 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Skyward Specialty Insurance Group by 143.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,022 shares of the company's stock valued at $1,467,000 after buying an additional 17,101 shares during the period. Wells Fargo & Company MN raised its holdings in Skyward Specialty Insurance Group by 52.4% in the 4th quarter. Wells Fargo & Company MN now owns 27,507 shares of the company's stock valued at $1,390,000 after buying an additional 9,461 shares during the period. Finally, Invesco Ltd. raised its holdings in Skyward Specialty Insurance Group by 9.1% in the 4th quarter. Invesco Ltd. now owns 1,217,329 shares of the company's stock valued at $61,524,000 after buying an additional 102,042 shares during the period. Hedge funds and other institutional investors own 94.83% of the company's stock.

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.