Skyward Specialty Insurance Group (NASDAQ:SKWD) Sets New 12-Month High – Here’s What Happened

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) shares reached a new 52-week high on Friday . The company traded as high as $44.66 and last traded at $44.66, with a volume of 43533 shares. The stock had previously closed at $43.34.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SKWD shares. Jefferies Financial Group boosted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial reissued a “buy” rating and issued a $49.00 price target (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. JMP Securities lifted their price objective on Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the company a “market outperform” rating in a report on Tuesday, August 6th. Barclays began coverage on Skyward Specialty Insurance Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $44.00 price objective on the stock. Finally, William Blair initiated coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They set an “outperform” rating for the company. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.78.

Skyward Specialty Insurance Group Stock Up 2.1 %

The company has a market cap of $1.77 billion, a P/E ratio of 14.64, a PEG ratio of 0.82 and a beta of 0.60. The firm has a fifty day moving average price of $39.87 and a 200 day moving average price of $37.75.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued 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 net margin of 11.52% and a return on equity of 17.36%. The firm had revenue of $279.94 million for the quarter, compared to analyst estimates of $282.70 million. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 2.98 earnings per share for the current year.

Insider Activity at Skyward Specialty Insurance Group

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

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several large investors have recently made changes to their positions in SKWD. Capital International Investors lifted its stake 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 valued at $82,767,000 after acquiring an additional 717,972 shares during the period. Marshall Wace LLP acquired a new position in shares of Skyward Specialty Insurance Group during the second quarter valued at $10,152,000. Dimensional Fund Advisors LP acquired a new position in Skyward Specialty Insurance Group in the second quarter valued at about $8,151,000. Vanguard Group Inc. lifted its stake in Skyward Specialty Insurance Group by 11.3% in the first quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock valued at $76,458,000 after buying an additional 207,744 shares during the period. Finally, Mutual of America Capital Management LLC acquired a new position in Skyward Specialty Insurance Group in the second quarter valued at about $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.