Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $75.00 at Truist Financial

Key Points

• Truist Financial raised Skyward Specialty Insurance Group’s price target to $75 from $70 and maintained a “buy” rating, implying 16.56% upside from the prior close.
• Shares rose 2.1% to $64.34, near the stock’s 12-month high of $64.20. Analysts hold a consensus “Moderate Buy” rating with an average price target of $68.70.
• The company reported quarterly EPS of $1.30, beating estimates of $1.17, while institutional investors own 94.83% of the stock; insiders own 8.52%.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) had its price objective lifted by Truist Financial from $70.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price target would suggest a potential upside of 16.56% from the company's previous close.

Other equities analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Piper Sandler boosted their target price on Skyward Specialty Insurance Group from $68.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Capital One Financial set a $59.00 price target on Skyward Specialty Insurance Group in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods increased their price target on Skyward Specialty Insurance Group from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, July 8th. Finally, Barclays raised their price objective on Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.70.

Skyward Specialty Insurance Group Stock Up 2.1%

SKWD traded up $1.30 during trading on Thursday, hitting $64.34. The company's stock had a trading volume of 168,595 shares, compared to its average volume of 501,443. The firm has a market capitalization of $2.61 billion, a P/E ratio of 14.99 and a beta of 0.34. Skyward Specialty Insurance Group has a twelve month low of $40.60 and a twelve month high of $64.20. The stock's fifty day moving average price is $55.24 and its 200-day moving average price is $48.87.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.17 by $0.13. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 19.61%. The company had revenue of $489.53 million during the quarter, compared to the consensus estimate of $706.59 million. Equities research analysts expect that Skyward Specialty Insurance Group will post 4.88 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gena L. Ashe sold 740 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $46.35, for a total value of $34,299.00. Following the completion of the transaction, the director owned 4,570 shares in the company, valued at $211,819.50. The trade was a 13.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Thomas N. Schmitt sold 8,397 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $51.32, for a total value of $430,934.04. Following the transaction, the insider directly owned 10,353 shares in the company, valued at approximately $531,315.96. The trade was a 44.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 8.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP increased its holdings in Skyward Specialty Insurance Group by 24.9% in the 4th quarter. Royce & Associates LP now owns 202,659 shares of the company's stock valued at $10,358,000 after acquiring an additional 40,339 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Skyward Specialty Insurance Group by 26.4% in the fourth quarter. Teacher Retirement System of Texas now owns 147,406 shares of the company's stock worth $7,534,000 after purchasing an additional 30,763 shares during the last quarter. UBS Group AG lifted its position in shares of Skyward Specialty Insurance Group by 44.5% in the fourth quarter. UBS Group AG now owns 234,366 shares of the company's stock worth $11,978,000 after buying an additional 72,196 shares in the last quarter. Vanguard Group Inc. boosted its stake in Skyward Specialty Insurance Group by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 2,555,033 shares of the company's stock valued at $130,588,000 after buying an additional 102,191 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Skyward Specialty Insurance Group by 397.5% during the 1st quarter. Sei Investments Co. now owns 433,298 shares of the company's stock worth $18,926,000 after acquiring an additional 346,202 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc NASDAQ: SKWD is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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