Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have received a consensus rating of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $48.22.

Several equities analysts recently commented on the company. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a research report on Monday, January 13th. They set a “hold” rating and a $43.00 price target on the stock. Raymond James upped their target price on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 5th. Barclays lifted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. JMP Securities raised 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, Jefferies Financial Group boosted their price target 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.

Insider Activity

In other news, insider Thomas N. Schmitt sold 637 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $47.81, for a total transaction of $30,454.97. Following the completion of the transaction, the insider now directly owns 10,792 shares in the company, valued at approximately $515,965.52. This represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Charles Hays sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the sale, the director now directly owns 747,261 shares in the company, valued at $40,352,094. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,318 shares of company stock valued at $2,098,866. 8.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its stake in shares of Skyward Specialty Insurance Group by 197.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 65,036 shares of the company’s stock valued at $2,353,000 after buying an additional 43,153 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Skyward Specialty Insurance Group in the second quarter valued at approximately $8,151,000. Renaissance Technologies LLC bought a new stake in shares of Skyward Specialty Insurance Group during the second quarter valued at approximately $224,000. Amalgamated Bank raised its position 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 purchasing an additional 279 shares during the period. Finally, Thrivent Financial for Lutherans bought a new position in shares of Skyward Specialty Insurance Group in the 2nd quarter worth $964,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ:SKWD opened at $44.18 on Wednesday. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 0.74 and a beta of 0.89. The business’s 50 day simple moving average is $49.89 and its 200-day simple moving average is $44.16. Skyward Specialty Insurance Group has a 12 month low of $29.40 and a 12 month high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $292.43 million. During the same quarter last year, the company earned $0.65 earnings per share. On average, equities analysts anticipate that Skyward Specialty Insurance Group will post 3.07 earnings per share for the current year.

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.