Skyward Specialty Insurance Group (NASDAQ:SKWD) Now Covered by Janney Montgomery Scott

Key Points

• Skyward Specialty Insurance Group has been upgraded to a "strong-buy" rating by Janney Montgomery Scott, indicating increased analyst confidence in the company's stock.
• Price targets for Skyward's stock have seen varied adjustments, with BMO Capital Markets raising its target from $52 to $55 and JMP Securities increasing theirs from $65 to $70.
• Institutional investors hold a significant 94.83% stake in Skyward Specialty, showcasing strong market interest and investment in the company.

Equities research analysts at Janney Montgomery Scott started coverage on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) in a report released on Monday, MarketBeat Ratings reports. The brokerage set a "buy" rating on the stock.

Several other equities analysts have also issued reports on the company. Wolfe Research raised Skyward Specialty Insurance Group to an "outperform" rating in a report on Monday, September 15th. Citigroup restated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Thursday, September 4th. JMP Securities raised their target price on shares of Skyward Specialty Insurance Group from $65.00 to $70.00 and gave the company a "market outperform" rating in a report on Thursday, September 4th. Piper Sandler decreased their price target on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Skyward Specialty Insurance Group in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.70.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $48.00 on Monday. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 15.09 and a beta of 0.58. Skyward Specialty Insurance Group has a one year low of $41.28 and a one year high of $65.05. The firm's fifty day moving average is $48.28 and its two-hundred day moving average is $53.56.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.40% and a net margin of 10.53%.The firm had revenue of $319.90 million during the quarter, compared to the consensus estimate of $324.64 million. During the same period in the prior year, the company earned $0.80 EPS. As a group, equities research analysts predict that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its holdings in Skyward Specialty Insurance Group by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 36,490 shares of the company's stock valued at $2,109,000 after purchasing an additional 341 shares during the period. Arizona State Retirement System raised its stake in Skyward Specialty Insurance Group by 4.6% in the first 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 in the last quarter. US Bancorp DE boosted its position in shares of Skyward Specialty Insurance Group by 8.2% during the 1st quarter. US Bancorp DE now owns 5,935 shares of the company's stock worth $314,000 after acquiring an additional 451 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in Skyward Specialty Insurance Group by 5.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 8,516 shares of the company's stock worth $492,000 after purchasing an additional 460 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Skyward Specialty Insurance Group by 4.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 10,756 shares of the company's stock valued at $622,000 after purchasing an additional 479 shares in the last quarter. Institutional investors and hedge funds 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.