Brokerages Set Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Target Price at $39.89

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has earned a consensus rating of “Buy” from the eight brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $39.89.

Several equities analysts have issued reports on SKWD shares. Piper Sandler lifted their target price on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Truist Financial lifted 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. 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 target price for the company. JMP Securities lifted their target price on Skyward Specialty Insurance Group from $40.00 to $42.00 and gave the stock a “market outperform” rating in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods lifted 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.

Insider Buying and Selling

In related news, CEO Andrew S. Robinson sold 13,374 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total transaction of $477,451.80. Following the completion of the sale, the chief executive officer now directly owns 96,883 shares in the company, valued at $3,458,723.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $35.96, for a total value of $1,258,600.00. Following the completion of the sale, the chief financial officer now directly owns 261,688 shares in the company, valued at approximately $9,410,300.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Andrew S. Robinson sold 13,374 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $35.70, for a total value of $477,451.80. Following the completion of the sale, the chief executive officer now owns 96,883 shares of the company’s stock, valued at $3,458,723.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,890 shares of company stock worth $3,533,839. 8.01% of the stock is owned by corporate insiders.

Institutional Trading of Skyward Specialty Insurance Group

Several large investors have recently added to or reduced their stakes in SKWD. Capital International Investors purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter valued at $50,632,000. Vanguard Group Inc. lifted 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 valued at $41,390,000 after purchasing an additional 790,826 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Skyward Specialty Insurance Group in the 4th quarter valued at $18,982,000. Ashford Capital Management Inc. acquired a new position in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at $9,707,000. Finally, Jennison Associates LLC lifted its stake in shares of Skyward Specialty Insurance Group by 35.2% in the 3rd quarter. Jennison Associates LLC now owns 1,356,301 shares of the company’s stock valued at $37,108,000 after purchasing an additional 352,971 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Trading Down 0.8 %

Shares of Skyward Specialty Insurance Group stock opened at $36.24 on Monday. The firm has a market cap of $1.45 billion, a P/E ratio of 16.18 and a beta of 0.45. Skyward Specialty Insurance Group has a 12 month low of $20.81 and a 12 month high of $38.64. The stock’s fifty day moving average price is $36.13 and its 200-day moving average price is $33.02.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, February 20th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $321.60 million for the quarter, compared to analyst estimates of $320.34 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. Analysts forecast that Skyward Specialty Insurance Group will post 2.64 earnings per share for the current year.

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.