Keefe, Bruyette & Woods Has Lowered Expectations for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target cut by stock analysts at Keefe, Bruyette & Woods from $62.00 to $57.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 9.30% from the stock’s previous close.

Several other research firms have also recently issued reports on SKWD. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Wolfe Research restated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Barclays upgraded Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $53.00 to $63.00 in a report on Friday, March 14th. Truist Financial raised their price objective on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Piper Sandler lowered their price objective on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $55.63.

Skyward Specialty Insurance Group Price Performance

Shares of Skyward Specialty Insurance Group stock opened at $52.15 on Wednesday. Skyward Specialty Insurance Group has a 1 year low of $33.27 and a 1 year high of $55.62. The business has a 50 day moving average price of $50.44 and a 200 day moving average price of $48.42. The company has a market capitalization of $2.10 billion, a P/E ratio of 15.90, a P/E/G ratio of 0.81 and a beta of 0.63.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $295.56 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. As a group, research analysts expect that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, insider Thomas N. Schmitt sold 6,300 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $51.92, for a total transaction of $327,096.00. Following the completion of the sale, the insider now owns 3,946 shares in the company, valued at approximately $204,876.32. The trade was a 61.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gena L. Ashe sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.62, for a total transaction of $50,620.00. Following the completion of the transaction, the director now owns 734 shares in the company, valued at $37,155.08. The trade was a 57.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,132 shares of company stock valued at $620,476. Company insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its stake in shares of Skyward Specialty Insurance Group by 756.1% during the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after purchasing an additional 809 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter worth about $61,000. Summit Investment Advisors Inc. lifted its stake in shares of Skyward Specialty Insurance Group by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock worth $196,000 after acquiring an additional 247 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Skyward Specialty Insurance Group in the fourth quarter valued at about $219,000. Finally, Pinnacle Financial Partners Inc acquired a new stake in Skyward Specialty Insurance Group during the 4th quarter valued at approximately $220,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

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.