Skyward Specialty Insurance Group (NASDAQ:SKWD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) from a hold rating to a buy rating in a research note released on Sunday,Wall Street Zen reports.

A number of other equities analysts have also recently commented on SKWD. Weiss Ratings raised shares of Skyward Specialty Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 15th. TD Cowen upped their price target on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, August 11th. Barclays increased their price objective on shares of Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Citigroup reissued a “market outperform” rating on shares of Skyward Specialty Insurance Group in a research report on Monday, October 12th. Finally, Truist Financial raised their price objective on shares of Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Skyward Specialty Insurance Group presently has a consensus rating of “Moderate Buy” and an average price target of $71.11.

Skyward Specialty Insurance Group Stock Up 1.7%

Shares of SKWD opened at $61.67 on Friday. The company has a market cap of $2.74 billion, a PE ratio of 14.38 and a beta of 0.37. The business has a fifty day moving average of $57.31 and a 200 day moving average of $53.67. Skyward Specialty Insurance Group has a 52-week low of $40.60 and a 52-week high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.17 by $0.13. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 18.72%. The company had revenue of $489.53 million during the quarter, compared to analyst estimates of $706.59 million. As a group, research analysts anticipate that Skyward Specialty Insurance Group will post 5.00 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Skyward Specialty Insurance Group during the 2nd quarter valued at about $214,576,000. Reinhart Partners LLC. raised its holdings in shares of Skyward Specialty Insurance Group by 4.1% in the 2nd quarter. Reinhart Partners LLC. now owns 2,894,407 shares of the company’s stock valued at $168,889,000 after purchasing an additional 113,623 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Skyward Specialty Insurance Group by 198.5% in the 2nd quarter. Wasatch Advisors LP now owns 954,489 shares of the company’s stock worth $55,694,000 after purchasing an additional 634,708 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Skyward Specialty Insurance Group by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 854,789 shares of the company’s stock worth $37,337,000 after purchasing an additional 36,997 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Skyward Specialty Insurance Group by 24.6% during the first quarter. Royal Bank of Canada now owns 504,858 shares of the company’s stock valued at $22,052,000 after purchasing an additional 99,786 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc is a specialty property and casualty insurance company headquartered in Houston, Texas. Through its insurance subsidiaries, the company provides customized coverage for businesses and organizations that may be underserved by the standard insurance market.

Its offerings include excess and surplus lines insurance, professional liability, healthcare liability, workers’ compensation, surety, commercial property and casualty coverage, specialty programs, and accident and health products.