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

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $43.13.

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their target price on Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Oppenheimer assumed coverage on Skyward Specialty Insurance Group in a research note on Friday, July 12th. They issued a “market perform” rating for the company. JMP Securities boosted their target price on Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the company a “market outperform” rating in a research note on Tuesday. Finally, Truist Financial boosted their price target on Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the company a “buy” rating in a report on Friday, May 3rd.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, major shareholder Corp Westaim sold 5,060,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $36.50, for a total value of $184,690,000.00. Following the sale, the insider now owns 1,919,639 shares in the company, valued at $70,066,823.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Skyward Specialty Insurance Group news, major shareholder Corp Westaim sold 5,060,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $36.50, for a total value of $184,690,000.00. Following the sale, the insider now owns 1,919,639 shares in the company, valued at $70,066,823.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Haushill sold 3,244 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $37.18, for a total value of $120,611.92. Following the completion of the sale, the chief financial officer now owns 177,886 shares in the company, valued at approximately $6,613,801.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,095,277 shares of company stock worth $186,000,945. Corporate insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its position in Skyward Specialty Insurance Group by 24.2% during the first quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock worth $111,000 after buying an additional 579 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Skyward Specialty Insurance Group by 54.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock worth $114,000 after purchasing an additional 1,186 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Skyward Specialty Insurance Group during the fourth quarter worth $161,000. ProShare Advisors LLC bought a new stake in Skyward Specialty Insurance Group during the first quarter worth $200,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Skyward Specialty Insurance Group by 67.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock worth $204,000 after purchasing an additional 2,270 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Stock Down 1.8 %

Shares of Skyward Specialty Insurance Group stock opened at $37.88 on Wednesday. Skyward Specialty Insurance Group has a 12 month low of $22.97 and a 12 month high of $41.11. The business has a fifty day simple moving average of $36.88 and a 200 day simple moving average of $35.79. The stock has a market cap of $1.51 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 0.78 and a beta of 0.61.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.15. Skyward Specialty Insurance Group had a return on equity of 15.98% and a net margin of 11.16%. The business had revenue of $279.94 million during the quarter, compared to analysts’ expectations of $282.70 million. During the same period in the previous year, the firm earned $0.42 earnings per share. Analysts expect that Skyward Specialty Insurance Group will post 2.81 EPS for the current fiscal year.

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.