Barclays Boosts Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $53.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price increased by Barclays from $45.00 to $53.00 in a research note published on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities research analysts have also weighed in on the company. Raymond James increased their target price on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. JMP Securities boosted their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group upped 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, October 9th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $47.78.

Skyward Specialty Insurance Group Trading Up 0.2 %

Shares of SKWD opened at $45.61 on Monday. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 0.95 and a beta of 0.89. Skyward Specialty Insurance Group has a 52 week low of $29.40 and a 52 week high of $55.62. The stock has a 50 day moving average of $50.27 and a 200-day moving average of $43.58.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released 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 quarter in the previous year, the firm earned $0.65 earnings per share. On average, sell-side analysts predict that Skyward Specialty Insurance Group will post 3.06 earnings per share for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 6,010 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total value of $296,713.70. Following the transaction, the chief executive officer now owns 77,144 shares in the company, valued at approximately $3,808,599.28. This represents a 7.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sandip A. Kapadia sold 908 shares of Skyward Specialty Insurance Group stock in a transaction on Monday, January 6th. The shares were sold at an average price of $46.98, for a total transaction of $42,657.84. Following the sale, the executive vice president now directly owns 10,371 shares of the company’s stock, valued at $487,229.58. This trade represents a 8.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,056 shares of company stock valued at $2,086,938. Company insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of SKWD. Arcadia Investment Management Corp MI acquired a new position in Skyward Specialty Insurance Group in the third quarter worth approximately $41,000. Amalgamated Bank lifted its position in shares of Skyward Specialty Insurance Group by 27.7% in the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after buying an additional 279 shares during the last quarter. Quarry LP boosted its stake in shares of Skyward Specialty Insurance Group by 176.9% during the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after acquiring an additional 879 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Skyward Specialty Insurance Group during the 2nd quarter valued at about $160,000. Finally, CWM LLC increased its holdings in shares of Skyward Specialty Insurance Group by 3,103.1% during the 3rd quarter. CWM LLC now owns 4,132 shares of the company’s stock valued at $168,000 after acquiring an additional 4,003 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

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.