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

Skyward Specialty Insurance Group (NASDAQ:SKWD - Free Report) had its price target boosted by JMP Securities from $60.00 to $65.00 in a research report released on Friday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

SKWD has been the subject of a number of other reports. TD Cowen started coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a "hold" rating and a $43.00 target price for the company. Jefferies Financial Group downgraded shares of 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 report on Friday, April 11th. Truist Financial boosted their price objective on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Wolfe Research reiterated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Finally, Keefe, Bruyette & Woods lowered their price target on Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. 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's stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of "Moderate Buy" and an average price target of $59.88.

Skyward Specialty Insurance Group Trading Down 1.8 %

Shares of Skyward Specialty Insurance Group stock traded down $1.09 during trading hours on Friday, hitting $58.27. 522,320 shares of the company were exchanged, compared to its average volume of 384,696. The business has a 50-day moving average of $52.14 and a 200-day moving average of $49.78. Skyward Specialty Insurance Group has a 1 year low of $33.42 and a 1 year high of $60.40. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 0.81 and a beta of 0.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS 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 net margin of 12.24% and a return on equity of 16.39%. During the same quarter in the prior year, the firm earned $0.75 EPS. As a group, research analysts anticipate that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction of $242,759.68. Following the completion of the sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gena L. Ashe sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.62, for a total transaction of $50,620.00. Following the transaction, the director now directly owns 734 shares in the company, valued at $37,155.08. The trade was a 57.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,132 shares of company stock valued at $620,476. Corporate insiders own 8.01% of the company's stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Summit Investment Advisors Inc. grew its holdings in Skyward Specialty Insurance Group by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock valued at $196,000 after purchasing an additional 247 shares during the period. Arizona State Retirement System boosted its holdings in shares of Skyward Specialty Insurance Group by 4.6% in the 1st quarter. Arizona State Retirement System now owns 10,329 shares of the company's stock valued at $547,000 after purchasing an additional 451 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Skyward Specialty Insurance Group by 6.2% during the 1st quarter. Cetera Investment Advisers now owns 9,641 shares of the company's stock valued at $510,000 after buying an additional 566 shares during the period. Moran Wealth Management LLC increased its holdings in shares of Skyward Specialty Insurance Group by 6.2% during the 1st quarter. Moran Wealth Management LLC now owns 10,032 shares of the company's stock worth $531,000 after buying an additional 585 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Skyward Specialty Insurance Group by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,129 shares of the company's stock worth $1,068,000 after buying an additional 748 shares during the period. 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.