Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives Consensus Recommendation of “Buy” from Analysts

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has earned an average recommendation of “Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $39.89.

A number of research analysts have recently issued reports on the stock. Wolfe Research assumed 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 objective on the stock. Truist Financial increased their price objective on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Piper Sandler lifted their target price on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. BMO Capital Markets increased their price target on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, February 26th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th.

Skyward Specialty Insurance Group Stock Down 7.0 %

Skyward Specialty Insurance Group stock opened at $33.46 on Monday. Skyward Specialty Insurance Group has a twelve month low of $20.89 and a twelve month high of $38.64. The business has a fifty day moving average of $36.17 and a two-hundred day moving average of $33.13. The firm has a market cap of $1.34 billion, a P/E ratio of 14.94 and a beta of 0.45.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.61 earnings per share for the quarter, topping 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 firm had revenue of $321.60 million during the quarter, compared to analysts’ expectations of $320.34 million. During the same period in the prior year, the business posted $0.36 EPS. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. Equities analysts expect that Skyward Specialty Insurance Group will post 2.64 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Skyward Specialty Insurance Group

Several institutional investors have recently modified their holdings of SKWD. Wasatch Advisors LP lifted its stake in Skyward Specialty Insurance Group by 5.9% in the 1st quarter. Wasatch Advisors LP now owns 276,494 shares of the company’s stock valued at $10,344,000 after buying an additional 15,407 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Skyward Specialty Insurance Group by 19.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock valued at $17,383,000 after acquiring an additional 75,137 shares in the last quarter. Diversified Trust Co lifted its position in shares of Skyward Specialty Insurance Group by 26.3% in the first quarter. Diversified Trust Co now owns 11,775 shares of the company’s stock valued at $441,000 after acquiring an additional 2,450 shares in the last quarter. Quadrature Capital Ltd boosted its stake in shares of Skyward Specialty Insurance Group by 15.5% in the fourth quarter. Quadrature Capital Ltd now owns 46,504 shares of the company’s stock worth $1,576,000 after acquiring an additional 6,232 shares during the last quarter. Finally, Ghisallo Capital Management LLC increased its position in shares of Skyward Specialty Insurance Group by 50.0% during the fourth quarter. Ghisallo Capital Management LLC now owns 150,000 shares of the company’s stock worth $5,082,000 after purchasing an additional 50,000 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.