BMO Capital Markets Boosts Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $55.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price lifted by stock analysts at BMO Capital Markets from $52.00 to $55.00 in a research report issued to clients and investors on Monday, MarketBeat.com reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 13.05% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. Citigroup reiterated an “outperform” rating on shares of Skyward Specialty Insurance Group in a research note on Thursday, September 4th. Keefe, Bruyette & Woods upped their target price on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 29th. Piper Sandler decreased their target price on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, August 1st. JMP Securities upped their target price on shares of Skyward Specialty Insurance Group from $65.00 to $70.00 and gave the company a “market outperform” rating in a research note on Thursday, September 4th. Finally, Wall Street Zen downgraded shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.78.

Skyward Specialty Insurance Group Stock Down 3.1%

SKWD opened at $48.65 on Monday. Skyward Specialty Insurance Group has a 52-week low of $37.79 and a 52-week high of $65.05. The company has a 50 day moving average of $50.87 and a two-hundred day moving average of $53.97. The company has a market cap of $1.97 billion, a P/E ratio of 15.30 and a beta of 0.61.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.03. Skyward Specialty Insurance Group had a net margin of 10.53% and a return on equity of 16.40%. The company had revenue of $319.90 million during the quarter, compared to the consensus estimate of $324.64 million. During the same period in the previous year, the firm earned $0.80 earnings per share. Research analysts anticipate that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current year.

Insider Transactions at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 52,748 shares of the company’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $58.76, for a total value of $3,099,472.48. Following the sale, the chief financial officer directly owned 133,629 shares of the company’s stock, valued at $7,852,040.04. This represents a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 7.86% of the stock is owned by corporate insiders.

Institutional Trading of Skyward Specialty Insurance Group

Several institutional investors have recently added to or reduced their stakes in SKWD. Caitong International Asset Management Co. Ltd raised its holdings in Skyward Specialty Insurance Group by 2,223.1% in the second quarter. Caitong International Asset Management Co. Ltd now owns 604 shares of the company’s stock valued at $35,000 after acquiring an additional 578 shares in the last quarter. LRI Investments LLC acquired a new stake in Skyward Specialty Insurance Group in the first quarter valued at $67,000. KBC Group NV acquired a new stake in Skyward Specialty Insurance Group in the first quarter valued at $81,000. Osaic Holdings Inc. raised its holdings in Skyward Specialty Insurance Group by 140.9% in the second quarter. Osaic Holdings Inc. now owns 1,462 shares of the company’s stock valued at $84,000 after acquiring an additional 855 shares in the last quarter. Finally, ORG Wealth Partners LLC raised its holdings in Skyward Specialty Insurance Group by 86.9% in the first quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company’s stock valued at $123,000 after acquiring an additional 1,057 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Company Profile

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.