Barclays Lowers Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $57.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price reduced by investment analysts at Barclays from $63.00 to $57.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 27.28% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Weiss Ratings downgraded Skyward Specialty Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Piper Sandler cut their target price on shares of Skyward Specialty Insurance Group from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Zacks Research cut shares of Skyward Specialty Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Keefe, Bruyette & Woods upgraded shares of Skyward Specialty Insurance Group from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, March 13th. Finally, Citigroup reiterated a “market outperform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.20.

Skyward Specialty Insurance Group Stock Performance

NASDAQ SKWD traded up $0.81 during trading on Wednesday, reaching $44.78. 210,159 shares of the company traded hands, compared to its average volume of 507,256. The stock’s 50 day moving average price is $44.95 and its two-hundred day moving average price is $46.76. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 10.98 and a beta of 0.61. Skyward Specialty Insurance Group has a 1-year low of $40.60 and a 1-year high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Monday, February 23rd. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.21. The company had revenue of $385.59 million for the quarter, compared to the consensus estimate of $380.86 million. Skyward Specialty Insurance Group had a return on equity of 17.98% and a net margin of 12.00%.During the same period in the previous year, the business earned $0.80 earnings per share. Equities research analysts expect that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Anthony J. Kuczinski acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average price of $48.79 per share, for a total transaction of $97,580.00. Following the transaction, the director directly owned 10,903 shares of the company’s stock, valued at approximately $531,957.37. This trade represents a 22.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher Locke Peirce acquired 3,200 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average price of $47.30 per share, with a total value of $151,360.00. Following the transaction, the director directly owned 3,200 shares in the company, valued at $151,360. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 30,500 shares of company stock worth $1,433,546 in the last quarter. Insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SKWD. Y Intercept Hong Kong Ltd raised its position in shares of Skyward Specialty Insurance Group by 407.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 54,384 shares of the company’s stock valued at $2,587,000 after acquiring an additional 43,666 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Skyward Specialty Insurance Group by 116.6% during the 2nd quarter. Squarepoint Ops LLC now owns 89,436 shares of the company’s stock valued at $5,169,000 after acquiring an additional 48,148 shares during the last quarter. Reinhart Partners LLC. raised its position in shares of Skyward Specialty Insurance Group by 68.2% during the 3rd quarter. Reinhart Partners LLC. now owns 1,613,536 shares of the company’s stock valued at $76,740,000 after acquiring an additional 654,500 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Skyward Specialty Insurance Group by 5.5% during the 2nd quarter. Federated Hermes Inc. now owns 490,526 shares of the company’s stock valued at $28,347,000 after acquiring an additional 25,711 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Skyward Specialty Insurance Group by 9.2% during the 3rd quarter. American Century Companies Inc. now owns 654,123 shares of the company’s stock valued at $31,110,000 after acquiring an additional 55,361 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 (NASDAQ: SKWD) is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.