Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price Expected to Rise, Piper Sandler Analyst Says

Skyward Specialty Insurance Group (NASDAQ:SKWD - Free Report) had its target price raised by Piper Sandler from $57.00 to $66.00 in a research note issued to investors on Monday, MarketBeat.com reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research analysts have also issued reports on the company. Truist Financial boosted their price target on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday. TD Cowen began coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a "hold" rating and a $43.00 price target on the stock. Barclays increased their target price 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. Wolfe Research reiterated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Finally, Jefferies Financial Group lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and cut their price objective for the stock from $62.00 to $59.00 in a 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 issued a strong buy rating to the company. According to MarketBeat.com, Skyward Specialty Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.13.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ:SKWD traded up $0.17 during mid-day trading on Monday, hitting $59.78. 26,144 shares of the company traded hands, compared to its average volume of 431,450. The firm has a market cap of $2.41 billion, a P/E ratio of 18.23, a PEG ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group has a 52-week low of $33.42 and a 52-week high of $60.40. The firm's 50 day simple moving average is $52.51 and its 200 day simple moving average is $50.00.

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 business had revenue of $328.53 million during the quarter, compared to the consensus estimate of $310.94 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same quarter last year, the company earned $0.75 earnings per share. Equities research analysts expect that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In other news, Director Gena L. Ashe sold 1,000 shares of the firm's stock in a transaction dated 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 directly owns 734 shares of the company's stock, valued at approximately $37,155.08. This trade represents a 57.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas N. Schmitt sold 6,300 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $51.92, for a total transaction of $327,096.00. Following the completion of the transaction, the insider now directly owns 3,946 shares of the company's stock, valued at $204,876.32. This trade represents a 61.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,132 shares of company stock worth $620,476. 8.01% of the stock is owned by insiders.

Institutional Trading of Skyward Specialty Insurance Group

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company's stock worth $114,990,000 after purchasing an additional 16,572 shares during the last quarter. American Century Companies Inc. grew its stake in Skyward Specialty Insurance Group by 54.0% during the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock worth $79,744,000 after buying an additional 553,389 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Skyward Specialty Insurance Group by 9.1% during the fourth quarter. Invesco Ltd. now owns 1,217,329 shares of the company's stock worth $61,524,000 after buying an additional 102,042 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Skyward Specialty Insurance Group by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company's stock valued at $58,860,000 after acquiring an additional 47,363 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Skyward Specialty Insurance Group by 37.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company's stock worth $52,995,000 after acquiring an additional 283,749 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

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.