Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $70.00

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) had its price target lifted by investment analysts at Truist Financial from $61.00 to $70.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price objective would suggest a potential upside of 16.90% from the stock's previous close.

Several other analysts have also commented on SKWD. Barclays increased their price target on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods dropped their target price on Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. JMP Securities boosted their price target on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research note on Friday, May 2nd. TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a "hold" rating and a $43.00 target price for the company. Finally, Wolfe Research restated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Four 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, the stock has an average rating of "Moderate Buy" and an average target price of $61.13.

Skyward Specialty Insurance Group Trading Up 0.5 %

Shares of Skyward Specialty Insurance Group stock traded up $0.27 on Monday, hitting $59.88. 201,391 shares of the company traded hands, compared to its average volume of 373,732. The company has a market cap of $2.42 billion, a PE ratio of 18.26, a PEG ratio of 0.81 and a beta of 0.64. The stock's 50 day moving average price is $52.65 and its 200-day moving average price is $50.09. Skyward Specialty Insurance Group has a 52 week low of $33.42 and a 52 week high of $60.40.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. The business had revenue of $328.53 million during the quarter, compared to analysts' expectations 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 period in the prior year, the business earned $0.75 EPS. As a group, research analysts anticipate that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In other news, insider Thomas N. Schmitt sold 6,300 shares of Skyward Specialty Insurance Group stock in a transaction that occurred 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 completion of the transaction, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gena L. Ashe sold 1,000 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total transaction of $50,620.00. Following the sale, the director now directly owns 734 shares in the company, valued at $37,155.08. This trade represents a 57.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,132 shares of company stock worth $620,476. 8.01% of the stock is owned by corporate insiders.

Institutional Trading of Skyward Specialty Insurance Group

Several institutional investors have recently bought and sold shares of the business. Barclays PLC raised its position in Skyward Specialty Insurance Group by 277.7% during 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. Franklin Resources Inc. increased its position in shares of Skyward Specialty Insurance Group by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company's stock worth $45,506,000 after purchasing an additional 158,679 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Skyward Specialty Insurance Group by 32.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company's stock valued at $3,515,000 after purchasing an additional 21,346 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Skyward Specialty Insurance Group by 2.4% in the fourth quarter. Nordea Investment Management AB now owns 64,321 shares of the company's stock worth $3,248,000 after buying an additional 1,523 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in Skyward Specialty Insurance Group during the 4th quarter valued at about $61,000. 94.83% of the stock is owned by institutional investors and hedge funds.

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.