Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $46.89.

Several analysts have recently weighed in on the company. Barclays lifted their target price on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their target price on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Jefferies Financial Group lifted their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Raymond James lifted their target price on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. 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.

Skyward Specialty Insurance Group Stock Down 0.3 %

Shares of SKWD opened at $53.97 on Tuesday. The company has a market cap of $2.16 billion, a PE ratio of 16.45, a P/E/G ratio of 0.98 and a beta of 0.53. The business has a fifty day moving average of $46.43 and a 200 day moving average of $40.73. Skyward Specialty Insurance Group has a 52-week low of $29.40 and a 52-week high of $54.86.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly 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. The company had revenue of $300.89 million during the quarter, compared to the consensus estimate of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same period last year, the company earned $0.65 earnings per share. As a group, research analysts anticipate that Skyward Specialty Insurance Group will post 3.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in Skyward Specialty Insurance Group by 49.8% in the third quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock valued at $4,240,000 after purchasing an additional 34,612 shares during the last quarter. Marshall Wace LLP purchased a new position in Skyward Specialty Insurance Group in the second quarter valued at about $10,152,000. Navellier & Associates Inc. acquired a new stake in Skyward Specialty Insurance Group in the third quarter worth about $1,051,000. American Century Companies Inc. boosted its holdings in Skyward Specialty Insurance Group by 9.2% in the second quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock worth $33,269,000 after acquiring an additional 77,354 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Skyward Specialty Insurance Group by 439.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 71,909 shares of the company’s stock worth $2,691,000 after acquiring an additional 58,578 shares in the last quarter. Hedge funds and other 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.