Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $75.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target hoisted by analysts at Truist Financial from $70.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 16.56% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. Barclays boosted their price objective on shares of Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their price objective on Skyward Specialty Insurance Group from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Skyward Specialty Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 8th. Wall Street Zen cut shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Piper Sandler lifted their target price on Skyward Specialty Insurance Group from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.70.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD stock traded up $1.30 on Thursday, hitting $64.34. 168,595 shares of the stock traded hands, compared to its average volume of 501,443. The firm’s 50-day moving average price is $55.24 and its two-hundred day moving average price is $48.87. The stock has a market capitalization of $2.61 billion, a PE ratio of 14.99 and a beta of 0.34. Skyward Specialty Insurance Group has a twelve month low of $40.60 and a twelve month high of $64.20.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The company had revenue of $489.53 million for the quarter, compared to analysts’ expectations of $706.59 million. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 19.61%. On average, equities research analysts anticipate that Skyward Specialty Insurance Group will post 4.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Anthony J. Kuczinski bought 2,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was purchased at an average price of $47.10 per share, with a total value of $94,200.00. Following the completion of the transaction, the director directly owned 15,977 shares of the company’s stock, valued at $752,516.70. This trade represents a 14.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas N. Schmitt sold 8,397 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $51.32, for a total transaction of $430,934.04. Following the sale, the insider directly owned 10,353 shares of the company’s stock, valued at approximately $531,315.96. The trade was a 44.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 8.52% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its position in shares of Skyward Specialty Insurance Group by 24.9% during the 4th quarter. Royce & Associates LP now owns 202,659 shares of the company’s stock valued at $10,358,000 after purchasing an additional 40,339 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Skyward Specialty Insurance Group by 26.4% during the fourth quarter. Teacher Retirement System of Texas now owns 147,406 shares of the company’s stock valued at $7,534,000 after acquiring an additional 30,763 shares during the last quarter. UBS Group AG raised its stake in Skyward Specialty Insurance Group by 44.5% during the fourth quarter. UBS Group AG now owns 234,366 shares of the company’s stock valued at $11,978,000 after buying an additional 72,196 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Skyward Specialty Insurance Group by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 2,555,033 shares of the company’s stock valued at $130,588,000 after purchasing an additional 102,191 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Skyward Specialty Insurance Group by 397.5% in the first quarter. Sei Investments Co. now owns 433,298 shares of the company’s stock worth $18,926,000 after buying an additional 346,202 shares during the period. 94.83% of the stock is owned by institutional investors.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc (NASDAQ: SKWD) is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.