Skyward Specialty Insurance Group (NASDAQ:SKWD) Receives New Coverage from Analysts at Oppenheimer

Oppenheimer began coverage on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) in a research report released on Friday, MarketBeat Ratings reports. The brokerage issued a market perform rating on the stock.

A number of other analysts also recently commented on SKWD. JMP Securities boosted their target price on Skyward Specialty Insurance Group from $45.00 to $47.00 and gave the stock a market outperform rating in a research report on Monday, July 1st. Keefe, Bruyette & Woods boosted their target price on Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the stock an outperform rating in a research report on Wednesday, May 8th. Truist Financial boosted their target price on Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Finally, Piper Sandler upped their price objective on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an overweight rating in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $42.75.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD stock opened at $37.80 on Friday. The business’s fifty day moving average price is $36.20 and its 200 day moving average price is $35.15. Skyward Specialty Insurance Group has a 1-year low of $22.97 and a 1-year high of $39.16. The firm has a market capitalization of $1.51 billion, a PE ratio of 13.90 and a beta of 0.63.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $264.97 million for the quarter, compared to analyst estimates of $251.66 million. Skyward Specialty Insurance Group had a return on equity of 15.98% and a net margin of 11.16%. During the same quarter in the prior year, the company posted $0.42 earnings per share. Equities research analysts expect that Skyward Specialty Insurance Group will post 2.83 earnings per share for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In related news, CEO Andrew S. Robinson sold 23,533 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $37.21, for a total value of $875,662.93. Following the completion of the transaction, the chief executive officer now directly owns 83,154 shares in the company, valued at $3,094,160.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Skyward Specialty Insurance Group news, major shareholder Corp Westaim sold 5,060,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $36.50, for a total transaction of $184,690,000.00. Following the completion of the sale, the insider now directly owns 1,919,639 shares in the company, valued at $70,066,823.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew S. Robinson sold 23,533 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $37.21, for a total value of $875,662.93. Following the sale, the chief executive officer now owns 83,154 shares of the company’s stock, valued at $3,094,160.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,095,277 shares of company stock worth $186,000,945. 8.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its stake in Skyward Specialty Insurance Group by 24.2% during the first quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock worth $111,000 after acquiring an additional 579 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Skyward Specialty Insurance Group by 54.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock valued at $114,000 after buying an additional 1,186 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $161,000. ProShare Advisors LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the first quarter valued at about $200,000. Finally, Diversified Trust Co grew its stake in shares of Skyward Specialty Insurance Group by 21.1% in the fourth quarter. Diversified Trust Co now owns 9,325 shares of the company’s stock valued at $316,000 after buying an additional 1,625 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.