Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives $39.89 Consensus Price Target from Analysts

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

A number of brokerages recently weighed in on SKWD. BMO Capital Markets boosted their price objective on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, February 26th. Truist Financial boosted 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. JMP Securities boosted their target price on shares of Skyward Specialty Insurance Group from $40.00 to $42.00 and gave the company a “market outperform” rating in a research note on Monday, April 15th. Piper Sandler boosted their target price on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods boosted their target price 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 Performance

SKWD opened at $36.24 on Monday. The company has a 50-day moving average of $36.13 and a 200-day moving average of $33.02. The company has a market capitalization of $1.45 billion, a P/E ratio of 16.18 and a beta of 0.45. Skyward Specialty Insurance Group has a 1-year low of $20.81 and a 1-year 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 14.31%. The business 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 revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, sell-side analysts expect that Skyward Specialty Insurance Group will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Andrew S. Robinson sold 13,407 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $35.63, for a total value of $477,691.41. Following the sale, the chief executive officer now directly owns 61,126 shares in the company, valued at approximately $2,177,919.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Andrew S. Robinson sold 12,109 shares of the business’s 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 sale, the chief executive officer now owns 74,533 shares in the company, valued at $2,650,393.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew S. Robinson sold 13,407 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $35.63, for a total transaction of $477,691.41. Following the sale, the chief executive officer now owns 61,126 shares in the company, valued at approximately $2,177,919.38. The disclosure for this sale can be found here. Insiders have sold 98,890 shares of company stock worth $3,533,839 in the last ninety days. 8.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of large investors have recently made changes to their positions in the company. Wasatch Advisors LP raised its holdings in shares of Skyward Specialty Insurance Group by 5.9% during 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 period. Allspring Global Investments Holdings LLC raised its holdings in shares of Skyward Specialty Insurance Group by 19.3% during 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 during the period. Diversified Trust Co increased its stake 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 valued at $441,000 after buying an additional 2,450 shares during the period. Quadrature Capital Ltd increased its stake 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 valued at $1,576,000 after buying an additional 6,232 shares during the period. Finally, Ghisallo Capital Management LLC lifted its position in Skyward Specialty Insurance Group by 50.0% in the 4th quarter. Ghisallo Capital Management LLC now owns 150,000 shares of the company’s stock worth $5,082,000 after buying an additional 50,000 shares in the last quarter. Institutional investors and hedge funds 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.