Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective raised by stock analysts at Keefe, Bruyette & Woods from $59.00 to $60.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 23.66% from the stock’s previous close.

A number of other equities research analysts have also commented on SKWD. JMP Securities upped 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 report on Wednesday, October 30th. Barclays upped their target price on 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. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They set a “hold” rating and a $43.00 price target for the company. Jefferies Financial Group upped their price objective on shares of 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. Finally, Piper Sandler lowered their target price on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.67.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ:SKWD opened at $48.52 on Thursday. Skyward Specialty Insurance Group has a 52 week low of $29.76 and a 52 week high of $55.62. The firm has a market cap 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 firm’s fifty day moving average is $48.07 and its 200-day moving average is $44.72.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, EVP Sandip A. Kapadia sold 4,347 shares of Skyward Specialty Insurance Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $49.51, for a total transaction of $215,219.97. Following the completion of the transaction, the executive vice president now owns 12,508 shares in the company, valued at approximately $619,271.08. The trade was a 25.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas N. Schmitt sold 637 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $47.81, for a total value of $30,454.97. Following the sale, the insider now directly owns 10,792 shares of the company’s stock, valued at $515,965.52. This represents a 5.57 % 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 valued at $2,098,866 in the last 90 days. 8.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in Skyward Specialty Insurance Group by 49.8% during the third quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock worth $4,240,000 after purchasing an additional 34,612 shares during the last quarter. Barclays PLC boosted its stake in shares of Skyward Specialty Insurance Group by 277.7% in the 3rd quarter. Barclays PLC now owns 64,032 shares of the company’s stock worth $2,608,000 after buying an additional 47,081 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Skyward Specialty Insurance Group by 32.9% in the third quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company’s stock valued at $3,515,000 after acquiring an additional 21,346 shares in the last quarter. State Street Corp increased its position in shares of Skyward Specialty Insurance Group by 10.8% during the third quarter. State Street Corp now owns 844,233 shares of the company’s stock valued at $34,386,000 after acquiring an additional 82,328 shares during the last quarter. Finally, Navellier & Associates Inc. bought a new stake in Skyward Specialty Insurance Group during the third quarter worth $1,051,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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.