Skyward Specialty Insurance Group (NASDAQ:SKWD) Hits New 12-Month High on Analyst Upgrade

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday after Keefe, Bruyette & Woods raised their price target on the stock from $57.00 to $67.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Skyward Specialty Insurance Group traded as high as $60.40 and last traded at $59.36, with a volume of 615752 shares trading hands. The stock had previously closed at $58.63.

SKWD has been the subject of several other reports. Truist Financial raised 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. Wolfe Research reissued a "peer perform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a "hold" rating and a $43.00 price objective for the company. Jefferies Financial Group lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $62.00 to $59.00 in a report on Friday, April 11th. Finally, Piper Sandler lifted their price objective on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $61.13.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 6,300 shares of Skyward Specialty Insurance Group 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 owns 3,946 shares of the company's stock, valued at $204,876.32. The trade was a 61.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John A. Burkhart III sold 4,832 shares of Skyward Specialty Insurance Group stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the transaction, the insider now directly owns 17,655 shares of the company's stock, valued at $886,987.20. The trade was a 21.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,132 shares of company stock valued at $620,476 in the last quarter. 8.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Skyward Specialty Insurance Group

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Skyward Specialty Insurance Group by 10.0% during the 1st quarter. Vanguard Group Inc. now owns 2,503,156 shares of the company's stock valued at $132,467,000 after acquiring an additional 227,921 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Skyward Specialty Insurance Group by 54.0% during the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock valued at $79,744,000 after acquiring an additional 553,389 shares during the last quarter. Invesco Ltd. boosted its position in shares of Skyward Specialty Insurance Group by 9.1% during the 4th quarter. Invesco Ltd. now owns 1,217,329 shares of the company's stock valued at $61,524,000 after acquiring an additional 102,042 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Skyward Specialty Insurance Group by 4.2% during the 4th 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 position in shares of Skyward Specialty Insurance Group by 37.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company's stock valued at $52,995,000 after acquiring an additional 283,749 shares during the last quarter. Institutional investors own 94.83% of the company's stock.

Skyward Specialty Insurance Group Stock Performance

The stock has a market cap of $2.42 billion, a P/E ratio of 18.26, a P/E/G ratio of 0.81 and a beta of 0.64. The stock has a 50-day moving average price of $52.65 and a 200-day moving average price of $50.13.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its 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 company had revenue of $328.53 million during the quarter, compared to the consensus estimate of $310.94 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same quarter in the previous year, the company posted $0.75 EPS. Sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

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.