Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $42.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price upped by research analysts at JMP Securities from $40.00 to $42.00 in a report issued on Monday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ target price points to a potential upside of 17.22% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Wolfe Research began coverage on Skyward Specialty Insurance Group in a report on Thursday, January 11th. They set an “outperform” rating and a $39.00 price objective for the company. Keefe, Bruyette & Woods upped their target price on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Truist Financial upped their target price on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. BMO Capital Markets upped their target price on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, February 26th. Finally, Piper Sandler upped their target price on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $39.89.

Skyward Specialty Insurance Group Price Performance

NASDAQ:SKWD opened at $35.83 on Monday. Skyward Specialty Insurance Group has a 1 year low of $20.79 and a 1 year high of $38.64. The stock’s 50 day simple moving average is $35.33 and its two-hundred day simple moving average is $32.62. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 16.00 and a beta of 0.45.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Skyward Specialty Insurance Group had a return on equity of 14.31% and a net margin of 9.56%. The business had revenue of $321.60 million for the quarter, compared to the consensus estimate of $320.34 million. During the same quarter in the previous year, the company posted $0.36 EPS. The company’s revenue was up 21.5% compared to the same quarter last year. As a group, analysts anticipate that Skyward Specialty Insurance Group will post 2.64 EPS for the current year.

Insider Activity at Skyward Specialty Insurance Group

In related news, CEO Andrew S. Robinson sold 12,109 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $35.56, for a total transaction of $430,596.04. Following the transaction, the chief executive officer now directly owns 74,533 shares of the company’s stock, valued at approximately $2,650,393.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the sale, the chief financial officer now owns 261,688 shares in the company, valued at approximately $9,410,300.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew S. Robinson sold 12,109 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $35.56, for a total value of $430,596.04. Following the sale, the chief executive officer now owns 74,533 shares in the company, valued at approximately $2,650,393.48. The disclosure for this sale can be found here. Insiders have sold 98,890 shares of company stock valued at $3,533,839 in the last ninety days. Corporate insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

Several large investors have recently added to or reduced their stakes in the company. Quarry LP boosted its stake in shares of Skyward Specialty Insurance Group by 87.9% in the fourth quarter. Quarry LP now owns 746 shares of the company’s stock worth $25,000 after buying an additional 349 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Skyward Specialty Insurance Group by 0.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 71,060 shares of the company’s stock valued at $1,805,000 after purchasing an additional 599 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Skyward Specialty Insurance Group by 90.9% in the third quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock valued at $63,000 after purchasing an additional 1,095 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 purchasing an additional 1,186 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Skyward Specialty Insurance Group by 390.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,032 shares of the company’s stock valued at $52,000 after purchasing an additional 1,618 shares during the last quarter. Hedge funds and other institutional investors 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.