Skyward Specialty Insurance Group (NASDAQ:SKWD) Sets New 52-Week High - Should You Buy?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $60.93 and last traded at $58.76, with a volume of 38576 shares. The stock had previously closed at $59.87.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SKWD shares. JMP Securities lifted their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a report on Friday, May 2nd. Wolfe Research restated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Truist Financial lifted their target price on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods increased their price target on Skyward Specialty Insurance Group from $57.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Jefferies Financial Group lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and cut their price target for the company from $62.00 to $59.00 in a research note on Friday, April 11th. Four investment 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. According to data from MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of "Moderate Buy" and an average price target of $61.13.

Skyward Specialty Insurance Group Trading Up 0.7%

The stock has a market cap of $2.48 billion, a PE ratio of 18.73, a P/E/G ratio of 0.81 and a beta of 0.64. The business's 50-day moving average price is $53.27 and its 200-day moving average price is $50.37.

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 (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The business had revenue of $328.53 million for the quarter, compared to analyst estimates of $310.94 million. During the same period in the previous year, the company earned $0.75 earnings per share. As a group, analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, Director Gena L. Ashe sold 1,000 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $50.62, for a total value of $50,620.00. Following the completion of the transaction, the director now owns 734 shares of the company's stock, valued at approximately $37,155.08. This trade represents a 57.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas N. Schmitt sold 6,300 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the sale, the insider now directly owns 3,946 shares in the company, valued at $204,876.32. This trade represents a 61.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,132 shares of company stock worth $620,476 in the last three months. Corporate insiders own 8.01% of the company's stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Large investors have recently bought and sold shares of the company. Barclays PLC increased its stake 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 during the period. JPMorgan Chase & Co. grew its position in Skyward Specialty Insurance Group by 32.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company's stock worth $3,515,000 after purchasing an additional 21,346 shares during the period. Ellsworth Advisors LLC acquired a new position in shares of Skyward Specialty Insurance Group in the 4th quarter valued at about $676,000. Kirr Marbach & Co. LLC IN acquired a new position in shares of Skyward Specialty Insurance Group in the 4th quarter valued at about $252,000. Finally, Swedbank AB purchased a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter worth about $15,164,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Skyward Specialty Insurance Group Company Profile

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.