Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Rating Reaffirmed by JMP Securities

Skyward Specialty Insurance Group (NASDAQ:SKWD)‘s stock had its “market outperform” rating reiterated by investment analysts at JMP Securities in a report issued on Tuesday, Benzinga reports. They presently have a $50.00 price target on the stock. JMP Securities’ target price points to a potential upside of 10.06% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Truist Financial restated a “buy” rating and issued a $49.00 target price (up from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. William Blair assumed coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They set an “outperform” rating for the company. Keefe, Bruyette & Woods lifted their price objective on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Piper Sandler lifted their price objective on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Barclays assumed coverage on Skyward Specialty Insurance Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $44.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and a consensus price target of $44.78.

Skyward Specialty Insurance Group Price Performance

SKWD opened at $45.43 on Tuesday. Skyward Specialty Insurance Group has a 12 month low of $27.12 and a 12 month high of $46.03. The stock has a market cap of $1.82 billion, a P/E ratio of 16.70, a P/E/G ratio of 0.81 and a beta of 0.60. The stock’s 50 day moving average price is $40.44 and its 200 day moving average price is $38.00.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.15. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. The company had revenue of $279.94 million for the quarter, compared to analysts’ expectations of $282.70 million. During the same period last year, the firm earned $0.42 EPS. Equities analysts anticipate that Skyward Specialty Insurance Group will post 2.98 EPS for the current year.

Insider Activity

In related news, Director Katharine Terry sold 1,653 shares of the company’s stock in a transaction dated 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Large investors have recently modified their holdings of the business. Capital International Investors boosted its position in shares of Skyward Specialty Insurance Group by 48.0% during the first quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock worth $82,767,000 after buying an additional 717,972 shares during the period. Vanguard Group Inc. boosted 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 buying an additional 207,744 shares during the period. Champlain Investment Partners LLC boosted its position in shares of Skyward Specialty Insurance Group by 0.3% during the first quarter. Champlain Investment Partners LLC now owns 1,405,980 shares of the company’s stock worth $52,598,000 after buying an additional 4,510 shares during the period. Driehaus Capital Management LLC boosted its position in shares of Skyward Specialty Insurance Group by 2.8% during the second quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company’s stock worth $45,528,000 after buying an additional 34,286 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Skyward Specialty Insurance Group by 9.2% during the second quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock worth $33,269,000 after buying an additional 77,354 shares during the period. 94.83% of the stock is currently owned by 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.