Skyward Specialty Insurance Group (NASDAQ:SKWD) Sets New 1-Year High – What’s Next?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $54.86 and last traded at $54.07, with a volume of 10515 shares trading hands. The stock had previously closed at $53.70.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Piper Sandler increased their price target on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Jefferies Financial Group lifted their price objective on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JMP Securities increased their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Finally, 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. 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.89.

Skyward Specialty Insurance Group Stock Up 0.8 %

The company has a market capitalization of $2.17 billion, a P/E ratio of 16.50, a P/E/G ratio of 0.97 and a beta of 0.53. The firm has a fifty day simple moving average of $46.43 and a 200-day simple moving average of $40.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The business had revenue of $300.89 million during the quarter, compared to analysts’ expectations of $292.43 million. During the same period in the prior year, the business earned $0.65 EPS. On average, sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI bought a new position in Skyward Specialty Insurance Group during the 3rd quarter worth about $41,000. Amalgamated Bank grew its holdings in shares of Skyward Specialty Insurance Group by 27.7% during the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after buying an additional 279 shares in the last quarter. Quarry LP raised its position in Skyward Specialty Insurance Group by 176.9% in the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after buying an additional 879 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Skyward Specialty Insurance Group in the 2nd quarter valued at approximately $160,000. Finally, CWM LLC boosted its position in Skyward Specialty Insurance Group by 3,103.1% during the 3rd quarter. CWM LLC now owns 4,132 shares of the company’s stock worth $168,000 after acquiring an additional 4,003 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Company Profile

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.