Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price Expected to Rise, Barclays Analyst Says

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price hoisted by Barclays from $44.00 to $45.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other research analysts have also recently issued reports about the stock. Truist Financial reaffirmed a “buy” rating and set a $49.00 target price (up from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. Keefe, Bruyette & Woods increased their price target on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Piper Sandler increased their price target on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. William Blair assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, August 19th. They set an “outperform” rating on the stock. Finally, Jefferies Financial Group increased their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $45.22.

Skyward Specialty Insurance Group Stock Down 0.6 %

Skyward Specialty Insurance Group stock opened at $44.46 on Wednesday. Skyward Specialty Insurance Group has a twelve month low of $27.56 and a twelve month high of $48.40. The company’s 50-day moving average price is $42.21 and its two-hundred day moving average price is $38.61. The stock has a market cap of $1.78 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.85 and a beta of 0.60.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. The company had revenue of $300.89 million for the quarter, compared to analysts’ expectations of $292.43 million. During the same period last year, the firm earned $0.65 earnings per share. Equities analysts anticipate that Skyward Specialty Insurance Group will post 2.98 earnings per share for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of Skyward Specialty Insurance Group stock in a transaction on Friday, August 9th. The shares were sold at an average price of $36.87, for a total transaction of $60,946.11. Following the transaction, the director now owns 4,001 shares in the company, valued at approximately $147,516.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of hedge funds have recently modified their holdings of SKWD. Capital International Investors lifted its holdings in shares of Skyward Specialty Insurance Group by 48.0% during the first quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock worth $82,767,000 after purchasing an additional 717,972 shares during the period. Marshall Wace LLP bought a new position in Skyward Specialty Insurance Group during the second quarter worth $10,152,000. Dimensional Fund Advisors LP bought a new position in Skyward Specialty Insurance Group during the second quarter worth $8,151,000. Vanguard Group Inc. raised its stake in Skyward Specialty Insurance Group by 11.3% during the first quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock worth $76,458,000 after buying an additional 207,744 shares during the last quarter. Finally, Mutual of America Capital Management LLC bought a new position in Skyward Specialty Insurance Group during the second quarter worth $6,568,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.