Skyward Specialty Insurance Group (NASDAQ:SKWD) Now Covered by Analysts at TD Cowen

TD Cowen initiated coverage on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage issued a hold rating and a $43.00 price target on the stock.

Other research analysts have also recently issued reports about the stock. Raymond James increased their price target on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 5th. Jefferies Financial Group raised their target price on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JMP Securities raised their target price on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Finally, Barclays raised their target price on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $48.22.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD stock opened at $42.99 on Monday. The firm’s 50-day moving average is $50.27 and its 200-day moving average is $43.79. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 0.95 and a beta of 0.89. Skyward Specialty Insurance Group has a 52-week low of $29.40 and a 52-week high of $55.62.

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

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 637 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $47.81, for a total value of $30,454.97. Following the sale, the insider now owns 10,792 shares in the company, valued at $515,965.52. This trade represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew S. Robinson sold 6,010 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total transaction of $296,713.70. Following the completion of the sale, the chief executive officer now owns 77,144 shares in the company, valued at $3,808,599.28. This represents a 7.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,318 shares of company stock worth $2,098,866. Corporate insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of hedge funds have recently modified their holdings of the business. Jennison Associates LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 1.0% during the third quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock worth $52,786,000 after purchasing an additional 12,484 shares during the period. Driehaus Capital Management LLC lifted its holdings 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 purchasing an additional 34,286 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Skyward Specialty Insurance Group by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock worth $45,506,000 after purchasing an additional 158,679 shares during the period. American Century Companies Inc. lifted its holdings 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 purchasing an additional 77,354 shares during the period. Finally, Emerald Advisers LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 3.4% during the third quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock worth $35,622,000 after purchasing an additional 28,618 shares during the period. Institutional investors and hedge funds 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.