Skyward Specialty Insurance Group (NASDAQ:SKWD) Lowered to Hold Rating by Jefferies Financial Group

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) was downgraded by stock analysts at Jefferies Financial Group from a "buy" rating to a "hold" rating in a research report issued on Friday, MarketBeat reports. They currently have a $59.00 price target on the stock, down from their prior price target of $62.00. Jefferies Financial Group's target price would suggest a potential upside of 9.77% from the company's current price.

A number of other equities research analysts have also recently weighed in on the company. Piper Sandler lowered their price target on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Barclays upgraded Skyward Specialty Insurance Group from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $53.00 to $63.00 in a research report on Friday, March 14th. TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a "hold" rating and a $43.00 price objective on the stock. Truist Financial raised their target price on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, JMP Securities restated a "market outperform" rating and set a $60.00 target price on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Skyward Specialty Insurance Group Trading Down 0.3 %

Shares of SKWD traded down $0.16 during mid-day trading on Friday, hitting $53.75. The company's stock had a trading volume of 142,316 shares, compared to its average volume of 379,031. Skyward Specialty Insurance Group has a 1-year low of $33.27 and a 1-year high of $55.62. The firm has a market capitalization of $2.17 billion, a P/E ratio of 16.39, a P/E/G ratio of 0.81 and a beta of 0.63. The firm has a 50-day simple moving average of $50.77 and a 200 day simple moving average of $48.68.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The company had revenue of $304.40 million during the quarter, compared to the consensus estimate of $295.56 million. As a group, sell-side analysts predict that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider John A. Burkhart III sold 4,832 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total transaction of $242,759.68. Following the completion of the transaction, the insider now owns 17,655 shares of the company's stock, valued at approximately $886,987.20. This represents a 21.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gena L. Ashe sold 1,000 shares of Skyward Specialty Insurance Group stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $50.62, for a total transaction of $50,620.00. Following the completion of the transaction, the director now owns 734 shares in the company, valued at approximately $37,155.08. This trade represents a 57.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,132 shares of company stock valued at $620,476. Company insiders own 7.86% of the company's stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of institutional investors have recently added to or reduced their stakes in SKWD. State Street Corp lifted its stake in shares of Skyward Specialty Insurance Group by 10.8% in the 3rd quarter. State Street Corp now owns 844,233 shares of the company's stock valued at $34,386,000 after purchasing an additional 82,328 shares in the last quarter. XTX Topco Ltd acquired a new position in Skyward Specialty Insurance Group during the third quarter valued at approximately $394,000. Orion Portfolio Solutions LLC purchased a new stake in Skyward Specialty Insurance Group during the third quarter worth approximately $297,000. Barclays PLC increased its position in shares of Skyward Specialty Insurance Group by 277.7% in the third quarter. Barclays PLC now owns 64,032 shares of the company's stock worth $2,608,000 after acquiring an additional 47,081 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Skyward Specialty Insurance Group by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company's stock valued at $45,506,000 after acquiring an additional 158,679 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.