Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Skyward Specialty Insurance Group has received an average rating of "Moderate Buy" from eleven analysts, with a target price of $60.78.
• The company's shares opened at $47.02, with a market cap of $1.90 billion and a P/E ratio of 14.79 as of the last report.
• Recent changes in positions by hedge funds include Osaic Holdings boosting their stake by 140.9%, indicating growing institutional interest in the company.

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) have received an average rating of "Moderate Buy" from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Three research 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 $60.7778.

Several research firms have recently commented on SKWD. BMO Capital Markets upped their target price on Skyward Specialty Insurance Group from $52.00 to $55.00 and gave the company a "market perform" rating in a report on Monday, September 8th. JMP Securities upped their target price on Skyward Specialty Insurance Group from $65.00 to $70.00 and gave the company a "market outperform" rating in a report on Thursday, September 4th. Citigroup reaffirmed an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Thursday, September 4th. Wall Street Zen lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Piper Sandler lowered their target price on Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating for the company in a report on Friday, August 1st.

Skyward Specialty Insurance Group Stock Up 0.6%

Shares of Skyward Specialty Insurance Group stock opened at $47.02 on Monday. The firm has a market cap of $1.90 billion, a P/E ratio of 14.79 and a beta of 0.62. Skyward Specialty Insurance Group has a fifty-two week low of $40.29 and a fifty-two week high of $65.05. The business has a 50-day moving average price of $48.96 and a 200 day moving average price of $53.69.

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

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. boosted its position in shares of Skyward Specialty Insurance Group by 140.9% during the second quarter. Osaic Holdings Inc. now owns 1,462 shares of the company's stock worth $84,000 after buying an additional 855 shares during the period. Squarepoint Ops LLC boosted its position in shares of Skyward Specialty Insurance Group by 116.6% during the second quarter. Squarepoint Ops LLC now owns 89,436 shares of the company's stock worth $5,169,000 after buying an additional 48,148 shares during the period. Cim LLC boosted its position in shares of Skyward Specialty Insurance Group by 56.2% during the second quarter. Cim LLC now owns 9,586 shares of the company's stock worth $554,000 after buying an additional 3,448 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Skyward Specialty Insurance Group by 725.3% during the second quarter. Tower Research Capital LLC TRC now owns 7,807 shares of the company's stock worth $451,000 after buying an additional 6,861 shares during the period. Finally, Man Group plc acquired a new position in shares of Skyward Specialty Insurance Group during the second quarter worth approximately $315,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.

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