Truist Financial Forecasts Strong Price Appreciation for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective raised by equities research analysts at Truist Financial from $54.00 to $61.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 17.26% from the stock’s previous close.

A number of other research firms also recently issued reports on SKWD. Keefe, Bruyette & Woods raised their price target on shares of Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a “hold” rating and a $43.00 price target on the stock. Barclays raised 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 report on Monday, January 6th. JMP Securities restated a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Finally, Piper Sandler reduced their price target on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.00.

Skyward Specialty Insurance Group Price Performance

NASDAQ SKWD opened at $52.02 on Thursday. Skyward Specialty Insurance Group has a 12 month low of $33.27 and a 12 month high of $55.62. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 0.81 and a beta of 0.83. The company’s fifty day moving average price is $47.44 and its two-hundred day moving average price is $45.99.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The firm had revenue of $304.40 million for the quarter, compared to the consensus estimate of $295.56 million. As a group, analysts anticipate that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 6,010 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total transaction of $296,713.70. Following the transaction, the chief executive officer now owns 77,144 shares of the company’s stock, valued at approximately $3,808,599.28. This trade represents a 7.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Charles Hays sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 747,261 shares in the company, valued at approximately $40,352,094. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,318 shares of company stock valued at $2,098,866 in the last quarter. Company insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several large investors have recently bought and sold shares of SKWD. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter valued at about $6,048,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Skyward Specialty Insurance Group by 35.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,587 shares of the company’s stock valued at $4,326,000 after purchasing an additional 22,313 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Skyward Specialty Insurance Group by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 10,461 shares of the company’s stock valued at $529,000 after purchasing an additional 3,442 shares in the last quarter. Quantedge Capital Pte Ltd bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter valued at about $445,000. Finally, Man Group plc bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter valued at about $507,000. 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.