Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised its target price for Skyward Specialty Insurance Group from $52.00 to $55.00, indicating a potential upside of 9.50% from its previous close.
• The stock currently has a mixed rating from analysts, with 1 Strong Buy, 6 Buy, and 4 Hold ratings, resulting in an average target price of $60.78.
• Skyward Specialty Insurance Group reported earnings per share of $0.89 for the last quarter, exceeding the consensus estimate, and has a market capitalization of $2.03 billion.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Free Report) had its target price lifted by BMO Capital Markets from $52.00 to $55.00 in a research report report published on Monday, Marketbeat reports. The firm currently has a market perform rating on the stock.

Other equities analysts have also issued research reports about the stock. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Thursday, September 4th. JMP Securities increased their target price on shares of Skyward Specialty Insurance Group from $65.00 to $70.00 and gave the company a "market outperform" rating in a research report on Thursday, September 4th. Piper Sandler decreased their target price on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Wall Street Zen lowered shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Skyward Specialty Insurance Group presently has a consensus rating of "Moderate Buy" and an average price target of $60.78.

Skyward Specialty Insurance Group Trading Down 3.5%

SKWD traded down $1.65 on Monday, reaching $46.07. The company had a trading volume of 637,485 shares, compared to its average volume of 442,555. The company has a fifty day moving average of $50.35 and a 200-day moving average of $53.87. The company has a market capitalization of $1.87 billion, a P/E ratio of 14.49 and a beta of 0.61. Skyward Specialty Insurance Group has a one year low of $38.53 and a one year high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.03. The firm 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 quarter in the prior year, the firm posted $0.80 EPS. Research analysts predict that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 227,921 shares during the period. Invesco Ltd. boosted its holdings in shares of Skyward Specialty Insurance Group by 46.3% in the second quarter. Invesco Ltd. now owns 1,790,131 shares of the company's stock worth $103,452,000 after buying an additional 566,902 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 16.8% in the second quarter. Franklin Resources Inc. now owns 1,379,648 shares of the company's stock worth $79,730,000 after buying an additional 198,931 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Skyward Specialty Insurance Group by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,094,018 shares of the company's stock worth $57,896,000 after buying an additional 45,464 shares during the period. Finally, Reinhart Partners LLC. boosted its holdings in shares of Skyward Specialty Insurance Group by 1.5% in the second quarter. Reinhart Partners LLC. now owns 959,036 shares of the company's stock worth $55,423,000 after buying an additional 14,605 shares during the period. 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.