Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Given Average Rating of “Moderate Buy” by Brokerages

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $46.89.

Several equities research analysts have recently issued reports on the stock. Raymond James increased their target price on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 5th. Barclays increased their price target on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, JMP Securities increased their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th.

Skyward Specialty Insurance Group Trading Up 1.0 %

Shares of NASDAQ:SKWD opened at $50.54 on Friday. Skyward Specialty Insurance Group has a 12-month low of $29.40 and a 12-month high of $55.62. The business has a 50 day moving average of $50.13 and a two-hundred day moving average of $43.12. The company has a market capitalization of $2.03 billion, a PE ratio of 15.41, a PEG ratio of 0.95 and a beta of 0.76.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.06. The firm had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same period in the previous year, the firm earned $0.65 EPS. Equities research analysts predict that Skyward Specialty Insurance Group will post 3.06 earnings per share for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In other news, Director James Charles Hays sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the transaction, the director now directly owns 747,261 shares in the company, valued at $40,352,094. The trade was a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.01% of the company’s stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in Skyward Specialty Insurance Group by 49.8% during the third quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock worth $4,240,000 after purchasing an additional 34,612 shares during the last quarter. Barclays PLC increased its holdings in shares of Skyward Specialty Insurance Group by 277.7% during the 3rd quarter. Barclays PLC now owns 64,032 shares of the company’s stock worth $2,608,000 after buying an additional 47,081 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Skyward Specialty Insurance Group during the 2nd quarter worth approximately $10,152,000. Navellier & Associates Inc. purchased a new stake in shares of Skyward Specialty Insurance Group during the 3rd quarter valued at approximately $1,051,000. Finally, State Street Corp lifted its holdings in Skyward Specialty Insurance Group by 10.8% in the third quarter. State Street Corp now owns 844,233 shares of the company’s stock valued at $34,386,000 after acquiring an additional 82,328 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.