Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $42.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective upped by JMP Securities from $40.00 to $42.00 in a report published on Monday morning, Benzinga reports. They currently have a market outperform rating on the stock.

Several other equities research analysts have also recently weighed in on SKWD. BMO Capital Markets increased their target price on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a market perform rating in a research note on Monday, February 26th. Truist Financial increased their target price on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Piper Sandler increased their price target on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an overweight rating in a research report on Monday, April 1st. Wolfe Research began coverage on shares of Skyward Specialty Insurance Group in a research report on Thursday, January 11th. They issued an outperform rating and a $39.00 price target for the company. Finally, Keefe, Bruyette & Woods increased their price target on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $39.89.

Skyward Specialty Insurance Group Trading Up 1.7 %

NASDAQ:SKWD opened at $35.26 on Monday. The firm has a market capitalization of $1.41 billion, a PE ratio of 15.74 and a beta of 0.45. The stock has a 50 day moving average of $35.75 and a 200-day moving average of $32.76. Skyward Specialty Insurance Group has a 52 week low of $20.81 and a 52 week high of $38.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Skyward Specialty Insurance Group had a return on equity of 14.31% and a net margin of 9.56%. The company had revenue of $321.60 million during the quarter, compared to the consensus estimate of $320.34 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, analysts predict that Skyward Specialty Insurance Group will post 2.64 EPS for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In other news, CFO Mark W. Haushill sold 35,000 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $35.96, for a total value of $1,258,600.00. Following the completion of the transaction, the chief financial officer now owns 261,688 shares in the company, valued at $9,410,300.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Mark W. Haushill sold 35,000 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $35.96, for a total value of $1,258,600.00. Following the completion of the transaction, the chief financial officer now owns 261,688 shares in the company, valued at $9,410,300.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew S. Robinson sold 12,109 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $35.56, for a total transaction of $430,596.04. Following the completion of the transaction, the chief executive officer now owns 74,533 shares of the company’s stock, valued at approximately $2,650,393.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,890 shares of company stock valued at $3,533,839. Corporate insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Wasatch Advisors LP raised its stake in shares of Skyward Specialty Insurance Group by 5.9% in the first quarter. Wasatch Advisors LP now owns 276,494 shares of the company’s stock valued at $10,344,000 after acquiring an additional 15,407 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Skyward Specialty Insurance Group by 19.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock worth $17,383,000 after purchasing an additional 75,137 shares during the last quarter. Diversified Trust Co raised its position in Skyward Specialty Insurance Group by 26.3% in the 1st quarter. Diversified Trust Co now owns 11,775 shares of the company’s stock worth $441,000 after purchasing an additional 2,450 shares during the last quarter. Quadrature Capital Ltd raised its position in Skyward Specialty Insurance Group by 15.5% in the 4th quarter. Quadrature Capital Ltd now owns 46,504 shares of the company’s stock worth $1,576,000 after purchasing an additional 6,232 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Skyward Specialty Insurance Group by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 1,836,029 shares of the company’s stock worth $62,205,000 after purchasing an additional 323,242 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.

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.