Truist Financial Forecasts Strong Price Appreciation for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) had its target price hoisted by analysts at Truist Financial from $61.00 to $70.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price target would suggest a potential upside of 16.60% from the company's previous close.

A number of other research firms also recently issued reports on SKWD. Keefe, Bruyette & Woods decreased their price target on shares of Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Piper Sandler reduced their price target on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Jefferies Financial Group lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and lowered their price objective for the company from $62.00 to $59.00 in a research report on Friday, April 11th. JMP Securities lifted their price target on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a research report on Friday. Finally, TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a "hold" rating and a $43.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group has an average rating of "Moderate Buy" and an average price target of $58.75.

Skyward Specialty Insurance Group Price Performance

NASDAQ:SKWD traded up $1.41 during mid-day trading on Monday, reaching $60.04. 193,050 shares of the company's stock traded hands, compared to its average volume of 382,548. The company has a 50 day moving average price of $51.97 and a 200-day moving average price of $49.69. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 0.81 and a beta of 0.63. Skyward Specialty Insurance Group has a 12-month low of $33.42 and a 12-month high of $62.14.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, beating 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 prior year, the company earned $0.75 earnings per share. As a group, analysts forecast that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

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 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 completion of the sale, the insider now directly owns 3,946 shares in the company, valued at approximately $204,876.32. The trade was a 61.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John A. Burkhart III sold 4,832 shares of the business's 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 sale, the insider now owns 17,655 shares of the company's stock, valued at approximately $886,987.20. This represents a 21.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,132 shares of company stock worth $620,476. Insiders own 8.01% of the company's stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKWD. Summit Investment Advisors Inc. boosted its position in shares of 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 worth $196,000 after purchasing an additional 247 shares during the period. Arizona State Retirement System increased its stake in 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 worth $547,000 after buying an additional 451 shares in the last quarter. Moran Wealth Management LLC increased its stake in Skyward Specialty Insurance Group by 6.2% in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Skyward Specialty Insurance Group by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,129 shares of the company's stock valued at $1,068,000 after acquiring an additional 748 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in shares of Skyward Specialty Insurance Group by 756.1% in the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock worth $46,000 after acquiring an additional 809 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

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.

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