Skyward Specialty Insurance Group (NASDAQ:SKWD) Receives “Market Outperform” Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) in a research note released on Monday morning,Benzinga reports. JMP Securities currently has a $60.00 price objective on the stock.

Other research analysts have also issued reports about the company. TD Cowen began coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 price objective on the stock. Piper Sandler reduced their price target on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Raymond James upped their price objective 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. Keefe, Bruyette & Woods raised their target price on shares of Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Barclays upped their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.44.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD opened at $48.82 on Monday. The firm has a market capitalization of $1.96 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.81 and a beta of 0.83. The company’s fifty day moving average price is $47.97 and its 200-day moving average price is $44.90. Skyward Specialty Insurance Group has a 1-year low of $30.73 and a 1-year high of $55.62.

Insider Activity

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 1,630 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $49.06, for a total transaction of $79,967.80. Following the transaction, the chief financial officer now owns 176,971 shares in the company, valued at approximately $8,682,197.26. This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas N. Schmitt sold 546 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.85, for a total value of $25,580.10. Following the completion of the sale, the insider now owns 10,246 shares of the company’s stock, valued at $480,025.10. This trade represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,318 shares of company stock worth $2,098,866 in the last ninety days. Company insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

Institutional investors have recently modified their holdings of the stock. Jennison Associates LLC boosted its holdings in Skyward Specialty Insurance Group by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock worth $52,786,000 after buying an additional 12,484 shares during the last quarter. Franklin Resources Inc. raised its stake in Skyward Specialty Insurance Group by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock valued at $45,506,000 after purchasing an additional 158,679 shares during the last quarter. Emerald Advisers LLC raised its stake in Skyward Specialty Insurance Group by 3.4% in the 3rd quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock valued at $35,622,000 after purchasing an additional 28,618 shares during the last quarter. State Street Corp lifted its holdings in Skyward Specialty Insurance Group by 10.8% in the 3rd quarter. State Street Corp now owns 844,233 shares of the company’s stock valued at $34,386,000 after purchasing an additional 82,328 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Skyward Specialty Insurance Group by 12.9% during the 3rd quarter. Victory Capital Management Inc. now owns 743,073 shares of the company’s stock worth $30,265,000 after purchasing an additional 84,623 shares during the last quarter. 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.