Piper Sandler Forecasts Strong Price Appreciation for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group (NASDAQ:SKWD - Free Report) had its price objective hoisted by Piper Sandler from $57.00 to $66.00 in a report issued on Monday morning, MarketBeat reports. Piper Sandler currently has an overweight rating on the stock.

Several other research firms also recently commented on SKWD. Truist Financial lifted their price objective on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods reduced their price target on shares of Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Barclays upped their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a report on Friday, April 11th. JMP Securities raised their target price on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a report on Friday, May 2nd. Finally, Jefferies Financial Group downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and cut their price target for the stock from $62.00 to $59.00 in a research report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.13.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD traded up $0.27 during midday trading on Monday, reaching $59.88. 201,391 shares of the stock traded hands, compared to its average volume of 373,446. The business has a 50-day moving average of $52.65 and a two-hundred day moving average of $50.11. The stock has a market capitalization of $2.42 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group has a 12-month low of $33.42 and a 12-month high of $60.40.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The business had revenue of $328.53 million during the quarter, compared to the consensus estimate of $310.94 million. During the same quarter last year, the company earned $0.75 earnings per share. Research analysts anticipate that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, insider Thomas N. Schmitt sold 6,300 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $51.92, for a total value of $327,096.00. Following the completion of the sale, the insider now directly owns 3,946 shares in the company, valued at $204,876.32. This represents a 61.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John A. Burkhart III sold 4,832 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the transaction, the insider now owns 17,655 shares in the company, valued at $886,987.20. The trade was a 21.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,132 shares of company stock valued at $620,476 over the last ninety days. Corporate insiders own 8.01% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Reinhart Partners LLC. acquired a new position in Skyward Specialty Insurance Group during the first quarter worth $49,979,000. Capital World Investors acquired a new position in shares of Skyward Specialty Insurance Group during the 4th quarter valued at about $41,182,000. American Century Companies Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 54.0% in the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock valued at $79,744,000 after purchasing an additional 553,389 shares during the period. WCM Investment Management LLC acquired a new stake in Skyward Specialty Insurance Group during the fourth quarter worth about $18,084,000. Finally, Swedbank AB purchased a new position in Skyward Specialty Insurance Group during the fourth quarter worth about $15,164,000. 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.