Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $53.00 at Barclays

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price boosted by Barclays from $45.00 to $53.00 in a report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts also recently weighed in on the company. JMP Securities boosted their price target on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Raymond James boosted their target price on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group increased their price target on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $47.78.

Skyward Specialty Insurance Group Trading Down 3.0 %

NASDAQ SKWD opened at $45.09 on Monday. The company has a market cap of $1.81 billion, a PE ratio of 13.75, a PEG ratio of 0.95 and a beta of 0.89. Skyward Specialty Insurance Group has a 12 month low of $29.40 and a 12 month high of $55.62. The stock has a 50 day moving average of $50.23 and a 200-day moving average of $43.49.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. The firm had revenue of $300.89 million during 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 quarter last year, the company posted $0.65 earnings per share. As a group, sell-side analysts predict that Skyward Specialty Insurance Group will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In related news, EVP Sandip A. Kapadia sold 908 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $46.98, for a total value of $42,657.84. Following the sale, the executive vice president now directly owns 10,371 shares of the company’s stock, valued at $487,229.58. This trade represents a 8.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 sale, the director now owns 747,261 shares in the company, valued at approximately $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. Insiders sold 40,056 shares of company stock valued at $2,086,938 in the last quarter. Company insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Amalgamated Bank increased its holdings in Skyward Specialty Insurance Group by 27.7% in the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after purchasing an additional 279 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in Skyward Specialty Insurance Group by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 38,037 shares of the company’s stock worth $1,549,000 after buying an additional 306 shares during the period. IHT Wealth Management LLC grew its holdings in Skyward Specialty Insurance Group by 4.6% during the 3rd quarter. IHT Wealth Management LLC now owns 10,501 shares of the company’s stock worth $428,000 after acquiring an additional 464 shares during the last quarter. Quarry LP increased its position in Skyward Specialty Insurance Group by 176.9% in the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after acquiring an additional 879 shares during the period. Finally, Arcadia Investment Management Corp MI acquired a new position in Skyward Specialty Insurance Group in the 3rd quarter valued at approximately $41,000. 94.83% of the stock is currently owned by institutional investors.

Skyward Specialty Insurance Group Company Profile

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.