Skyward Specialty Insurance Group (NASDAQ:SKWD) Given New $42.00 Price Target at JMP Securities

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective raised by JMP Securities from $40.00 to $42.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a market outperform rating on the stock.

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

Skyward Specialty Insurance Group Stock Performance

Shares of Skyward Specialty Insurance Group stock opened at $35.77 on Monday. Skyward Specialty Insurance Group has a one year low of $20.81 and a one year high of $38.64. The company has a market capitalization of $1.43 billion, a PE ratio of 15.97 and a beta of 0.45. The company has a 50-day simple moving average of $35.46 and a two-hundred day simple moving average of $32.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, February 20th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The firm had revenue of $321.60 million for the quarter, compared to analyst estimates of $320.34 million. Skyward Specialty Insurance Group had a return on equity of 14.31% and a net margin of 9.56%. Skyward Specialty Insurance Group’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. On average, equities analysts predict that Skyward Specialty Insurance Group will post 2.64 earnings per share for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 25,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $35.58, for a total value of $889,500.00. Following the completion of the transaction, the chief financial officer now directly owns 236,688 shares of the company’s stock, valued at approximately $8,421,359.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 25,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $35.58, for a total value of $889,500.00. Following the completion of the sale, the chief financial officer now directly owns 236,688 shares of the company’s stock, valued at approximately $8,421,359.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew S. Robinson sold 12,109 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $35.56, for a total value of $430,596.04. Following the completion of the sale, the chief executive officer now directly owns 74,533 shares of the company’s stock, valued at $2,650,393.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,890 shares of company stock valued at $3,533,839. 8.01% of the stock is owned by insiders.

Institutional Trading of Skyward Specialty Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Skyward Specialty Insurance Group by 109.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company’s stock worth $41,390,000 after acquiring an additional 790,826 shares during the last quarter. Redwood Investments LLC purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter valued at about $2,890,000. DekaBank Deutsche Girozentrale purchased a new stake in Skyward Specialty Insurance Group in the 3rd quarter valued at about $396,000. ClariVest Asset Management LLC purchased a new stake in Skyward Specialty Insurance Group in the 3rd quarter valued at about $1,106,000. Finally, Barclays PLC raised its holdings in Skyward Specialty Insurance Group by 263.2% in the 3rd quarter. Barclays PLC now owns 16,494 shares of the company’s stock valued at $451,000 after buying an additional 11,953 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Company Profile

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.