Skyward Specialty Insurance Group (NASDAQ:SKWD) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) from a hold rating to a buy rating in a research report report published on Saturday morning.

A number of other brokerages have also recently weighed in on SKWD. Barclays increased their price target on shares of Skyward Specialty Insurance Group from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup reiterated a “market outperform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, January 16th. Weiss Ratings cut shares of Skyward Specialty Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. 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. Finally, 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. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.75.

Skyward Specialty Insurance Group Trading Up 2.6%

Shares of Skyward Specialty Insurance Group stock opened at $46.69 on Friday. The company has a fifty day simple moving average of $45.17 and a 200-day simple moving average of $46.50. Skyward Specialty Insurance Group has a 12-month low of $40.60 and a 12-month high of $65.05. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 11.25 and a beta of 0.54.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Wednesday, May 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.12. Skyward Specialty Insurance Group had a net margin of 11.36% and a return on equity of 19.52%. The business had revenue of $475.87 million during the quarter, compared to analysts’ expectations of $665.12 million. During the same quarter in the prior year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts forecast that Skyward Specialty Insurance Group will post 4.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christopher Locke Peirce acquired 3,200 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was bought at an average price of $47.30 per share, for a total transaction of $151,360.00. Following the transaction, the director owned 3,200 shares in the company, valued at $151,360. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew S. Robinson acquired 22,100 shares of the business’s stock in a transaction on Friday, February 27th. The shares were purchased at an average price of $46.76 per share, with a total value of $1,033,396.00. Following the transaction, the chief executive officer owned 167,674 shares in the company, valued at $7,840,436.24. The trade was a 15.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 30,500 shares of company stock worth $1,433,546. 8.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Skyward Specialty Insurance Group by 75.8% in the 4th quarter. GAMMA Investing LLC now owns 575 shares of the company’s stock valued at $29,000 after purchasing an additional 248 shares in the last quarter. CWM LLC increased its holdings in shares of Skyward Specialty Insurance Group by 19.4% in the 4th quarter. CWM LLC now owns 2,013 shares of the company’s stock valued at $103,000 after purchasing an additional 327 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Skyward Specialty Insurance Group by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 36,490 shares of the company’s stock valued at $2,109,000 after purchasing an additional 341 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Skyward Specialty Insurance Group by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 6,536 shares of the company’s stock valued at $334,000 after purchasing an additional 423 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new position in shares of Skyward Specialty Insurance Group in the 4th quarter valued at about $27,000. Hedge funds and other 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.