Wall Street Zen Upgrades Skyward Specialty Insurance Group (NASDAQ:SKWD) to Buy

Skyward Specialty Insurance Group (NASDAQ:SKWD) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday, Wall Street Zen reports.

Several other equities research analysts also recently weighed in on the company. Citigroup reiterated a “market outperform” rating on shares of Skyward Specialty Insurance Group in a report on Monday, October 12th. Barclays boosted their price objective on Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Skyward Specialty Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday. TD Cowen upped their price objective on Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, August 11th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Skyward Specialty Insurance Group in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $71.11.

Skyward Specialty Insurance Group Trading Down 1.0%

Skyward Specialty Insurance Group stock opened at $60.62 on Friday. The firm has a 50-day moving average price of $57.31 and a 200-day moving average price of $53.54. The firm has a market capitalization of $2.69 billion, a PE ratio of 14.13 and a beta of 0.37. Skyward Specialty Insurance Group has a 12-month low of $40.60 and a 12-month high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 18.72%. The company had revenue of $489.53 million for the quarter, compared to the consensus estimate of $706.59 million. As a group, sell-side analysts predict that Skyward Specialty Insurance Group will post 5.00 earnings per share for the current fiscal year.

Institutional Trading of Skyward Specialty Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Nykredit A S purchased a new stake in shares of Skyward Specialty Insurance Group in the second quarter valued at approximately $37,000. Cassaday & Co Wealth Management LLC purchased a new position in Skyward Specialty Insurance Group during the 1st quarter worth $37,000. Fifth Third Bancorp purchased a new position in Skyward Specialty Insurance Group during the 1st quarter worth $60,000. KBC Group NV increased its holdings in Skyward Specialty Insurance Group by 73.2% during the 1st quarter. KBC Group NV now owns 1,780 shares of the company’s stock worth $78,000 after purchasing an additional 752 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Skyward Specialty Insurance Group by 632.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,074 shares of the company’s stock valued at $91,000 after purchasing an additional 1,791 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc is a specialty property and casualty insurance company headquartered in Houston, Texas. Through its insurance subsidiaries, the company provides customized coverage for businesses and other commercial policyholders, focusing on risks that may require specialized underwriting and claims expertise.

Its products and programs include commercial property and casualty insurance, workers’ compensation, commercial auto, general and professional liability, excess and surplus lines, healthcare-related coverage, surety, and other specialty insurance solutions.