Piper Sandler Lowers Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $57.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective decreased by equities research analysts at Piper Sandler from $58.00 to $57.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 17.48% from the company’s current price.

Other research analysts have also issued research reports about the stock. Barclays boosted their price objective 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. TD Cowen began 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 increased their price objective on 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 boosted their target price 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. Finally, JMP Securities increased their price target 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. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $50.67.

Skyward Specialty Insurance Group Price Performance

SKWD opened at $48.52 on Thursday. The firm has a market capitalization of $1.95 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.73 and a beta of 0.84. The business’s 50-day moving average is $48.07 and its two-hundred day moving average is $44.72. Skyward Specialty Insurance Group has a 1 year low of $29.76 and a 1 year high of $55.62.

Insider Activity

In other Skyward Specialty Insurance Group news, Director James Charles Hays sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the director now directly owns 747,261 shares of the company’s stock, valued at approximately $40,352,094. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew S. Robinson sold 6,010 shares of the company’s stock in a transaction 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 directly owns 77,144 shares in the company, valued at $3,808,599.28. This trade represents a 7.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,318 shares of company stock valued at $2,098,866. Company insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. WCM Investment Management LLC acquired a new stake in Skyward Specialty Insurance Group during the 4th quarter worth about $18,084,000. Swedbank AB purchased a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter worth about $15,164,000. Franklin Resources Inc. grew its holdings in 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 acquiring an additional 158,679 shares during the period. Phase 2 Partners LLC acquired a new stake in Skyward Specialty Insurance Group during the third quarter worth about $5,680,000. Finally, Rockefeller Capital Management L.P. raised its position in Skyward Specialty Insurance Group by 78.4% during the third quarter. Rockefeller Capital Management L.P. now owns 304,500 shares of the company’s stock valued at $12,402,000 after acquiring an additional 133,855 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.