Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $56.25.

A number of equities research analysts recently weighed in on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Keefe, Bruyette & Woods upped their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a “hold” rating and a $43.00 target price for the company. Barclays upgraded Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $53.00 to $63.00 in a research note on Friday, March 14th. Finally, JMP Securities restated a “market outperform” rating and set a $60.00 price objective on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director Gena L. Ashe sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.62, for a total value of $50,620.00. Following the transaction, the director now directly owns 734 shares in the company, valued at approximately $37,155.08. This trade represents a 57.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas N. Schmitt sold 6,300 shares of Skyward Specialty Insurance Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the completion of the transaction, the insider now directly owns 3,946 shares of the company’s stock, valued at $204,876.32. This trade represents a 61.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,394 shares of company stock worth $632,405 over the last quarter. 8.01% of the stock is owned by corporate insiders.

Institutional Trading of Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently made changes to their positions in SKWD. Sterling Capital Management LLC boosted its position in Skyward Specialty Insurance Group by 756.1% during the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after purchasing an additional 809 shares during the period. ORG Wealth Partners LLC bought a new stake in Skyward Specialty Insurance Group in the fourth quarter valued at $61,000. Quarry LP boosted its holdings in shares of Skyward Specialty Insurance Group by 176.9% during the third quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after acquiring an additional 879 shares during the period. Summit Investment Advisors Inc. grew its position in shares of Skyward Specialty Insurance Group by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock worth $196,000 after acquiring an additional 247 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth about $219,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Stock Performance

SKWD stock opened at $49.54 on Monday. The firm has a market cap of $2.00 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 0.81 and a beta of 0.63. Skyward Specialty Insurance Group has a 1 year low of $33.27 and a 1 year high of $55.62. The stock has a 50-day simple moving average of $49.68 and a 200-day simple moving average of $48.13.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $295.56 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. On average, equities research analysts predict that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

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.