Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Given Consensus Recommendation of "Moderate Buy" by Analysts

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twelve ratings firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $61.75.

SKWD has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their price target 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, May 29th. Piper Sandler lifted their target price 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. Barclays boosted their price target on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a report on Friday, April 11th. Jefferies Financial Group cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $62.00 to $59.00 in a report on Friday, April 11th. Finally, JMP Securities upped 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.

Insider Activity at Skyward Specialty Insurance Group

In other 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 value of $502,116.63. Following the sale, the chairman now owns 8,249 shares of the company's stock, valued at approximately $502,116.63. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark W. Haushill sold 52,748 shares of the business's 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 completion of the sale, the chief financial officer now owns 133,629 shares in the company, valued at $7,852,040.04. The trade was a 28.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.86% of the stock is currently owned by company insiders.

Institutional Trading of Skyward Specialty Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Voya Investment Management LLC boosted its position in Skyward Specialty Insurance Group by 3,712.0% during the 1st quarter. Voya Investment Management LLC now owns 433,652 shares of the company's stock worth $22,949,000 after acquiring an additional 422,276 shares during the period. Strs Ohio acquired a new stake in shares of Skyward Specialty Insurance Group during the first quarter worth approximately $6,651,000. Ellsworth Advisors LLC grew its position in Skyward Specialty Insurance Group by 7.9% during the first quarter. Ellsworth Advisors LLC now owns 14,430 shares of the company's stock valued at $764,000 after purchasing an additional 1,061 shares in the last quarter. Jane Street Group LLC increased its stake in Skyward Specialty Insurance Group by 286.1% in the 1st quarter. Jane Street Group LLC now owns 33,768 shares of the company's stock valued at $1,787,000 after buying an additional 25,022 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Skyward Specialty Insurance Group by 16.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,804 shares of the company's stock worth $5,282,000 after buying an additional 14,217 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD traded up $0.01 during mid-day trading on Friday, hitting $58.79. 306,991 shares of the company's stock traded hands, compared to its average volume of 368,262. The firm's 50 day simple moving average is $58.84 and its 200 day simple moving average is $52.52. The company has a market cap of $2.38 billion, a PE ratio of 19.60 and a beta of 0.79. Skyward Specialty Insurance Group has a 1 year low of $34.10 and a 1 year high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.12. The company had revenue of $328.53 million during the quarter, compared to analysts' expectations of $310.94 million. Skyward Specialty Insurance Group had a return on equity of 16.80% and a net margin of 10.23%. During the same period in the previous year, the firm posted $0.75 earnings per share. On average, research analysts expect that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current fiscal 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.