Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $45.00 at JMP Securities

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price lifted by JMP Securities from $42.00 to $45.00 in a research note published on Thursday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other research analysts also recently weighed in on the company. Truist Financial raised their price objective on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Wolfe Research initiated coverage on shares of Skyward Specialty Insurance Group in a research report on Thursday, January 11th. They issued an outperform rating and a $39.00 price target on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. Piper Sandler raised their target price on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an overweight rating in a report on Monday, April 1st. Finally, BMO Capital Markets lifted their price target 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. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of Buy and an average price target of $40.56.

Skyward Specialty Insurance Group Stock Up 5.1 %

SKWD stock opened at $37.58 on Thursday. The firm has a 50 day moving average of $36.25 and a two-hundred day moving average of $33.37. Skyward Specialty Insurance Group has a 12 month low of $21.21 and a 12 month high of $38.64. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 13.82 and a beta of 0.68.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 16.81%. The firm had revenue of $264.97 million during the quarter, compared to analysts’ expectations of $251.66 million. During the same period in the prior year, the company posted $0.42 earnings per share. On average, research analysts expect that Skyward Specialty Insurance Group will post 2.7 EPS for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of the firm’s stock in a transaction that occurred 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 owns 261,688 shares in the company, valued at approximately $9,410,300.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Mark W. Haushill sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $35.58, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Haushill sold 35,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, February 23rd. The shares were 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 $9,410,300.48. The disclosure for this sale can be found here. Insiders have sold 98,890 shares of company stock worth $3,533,839 over the last three months. Company insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank grew its stake in shares of Skyward Specialty Insurance Group by 90.9% in the 3rd 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 period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in 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 acquiring an additional 1,186 shares during the period. International Assets Investment Management LLC acquired a new position in Skyward Specialty Insurance Group during the fourth quarter worth $161,000. Adalta Capital Management LLC bought a new position in shares of Skyward Specialty Insurance Group during the third quarter valued at $137,000. Finally, New York State Common Retirement Fund boosted its stake in shares of Skyward Specialty Insurance Group by 82.2% in the 3rd quarter. New York State Common Retirement Fund now owns 6,895 shares of the company’s stock valued at $189,000 after purchasing an additional 3,110 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, 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.