Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Increased to $49.00 by Analysts at Jefferies Financial Group

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective boosted by analysts at Jefferies Financial Group from $45.00 to $49.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 12.67% from the company’s previous close.

SKWD has been the subject of a number of other research reports. Oppenheimer began coverage on Skyward Specialty Insurance Group in a research note on Friday, July 12th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods boosted their price objective on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. William Blair initiated coverage on Skyward Specialty Insurance Group in a research note on Monday, August 19th. They set an “outperform” rating for the company. Piper Sandler increased their price objective on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Truist Financial reissued a “buy” rating and issued a $49.00 target price (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.78.

Skyward Specialty Insurance Group Price Performance

Shares of Skyward Specialty Insurance Group stock traded up $0.66 on Wednesday, reaching $43.49. 88,940 shares of the company were exchanged, compared to its average volume of 358,772. The stock’s 50 day moving average price is $39.70 and its 200-day moving average price is $37.67. The company has a market cap of $1.74 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 0.83 and a beta of 0.60. Skyward Specialty Insurance Group has a 1-year low of $27.12 and a 1-year high of $44.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.15. The firm had revenue of $279.94 million during the quarter, compared to the consensus estimate of $282.70 million. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. During the same period in the prior year, the company posted $0.42 earnings per share. On average, research analysts predict that Skyward Specialty Insurance Group will post 2.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $36.87, for a total value of $60,946.11. Following the completion of the sale, the director now owns 4,001 shares in the company, valued at approximately $147,516.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital International Investors raised its position in Skyward Specialty Insurance Group by 48.0% in the 1st quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock valued at $82,767,000 after purchasing an additional 717,972 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Skyward Specialty Insurance Group during the second quarter worth $10,152,000. Dimensional Fund Advisors LP bought a new stake in shares of Skyward Specialty Insurance Group during the second quarter worth $8,151,000. Vanguard Group Inc. raised its position in shares of Skyward Specialty Insurance Group by 11.3% during the first quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock worth $76,458,000 after acquiring an additional 207,744 shares during the last quarter. Finally, Mutual of America Capital Management LLC bought a new stake in shares of Skyward Specialty Insurance Group during the second quarter worth $6,568,000. 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.