Wolfe Research Reaffirms “Peer Perform” Rating for Skyward Specialty Insurance Group (NASDAQ:SKWD)

Skyward Specialty Insurance Group (NASDAQ:SKWD)‘s stock had its “peer perform” rating reissued by investment analysts at Wolfe Research in a report released on Friday, MarketBeat reports.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods raised their price objective on Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Barclays raised their price target on 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 note on Monday, January 13th. They issued a “hold” rating and a $43.00 price objective for the company. Truist Financial raised their target price on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Piper Sandler lowered their price objective 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 equities 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Skyward Specialty Insurance Group Stock Down 0.4 %

SKWD stock opened at $52.02 on Friday. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 0.81 and a beta of 0.83. Skyward Specialty Insurance Group has a fifty-two week low of $33.27 and a fifty-two week high of $55.62. The business has a 50 day moving average price of $47.44 and a 200 day moving average price of $46.06.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $295.56 million. As a group, sell-side analysts anticipate that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Insider Activity at Skyward Specialty Insurance Group

In related news, CEO Andrew S. Robinson sold 6,010 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total value of $296,713.70. Following the sale, the chief executive officer now directly owns 77,144 shares of the company’s stock, valued at approximately $3,808,599.28. This represents a 7.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas N. Schmitt sold 637 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $47.81, for a total transaction of $30,454.97. Following the transaction, the insider now owns 10,792 shares of the company’s stock, valued at $515,965.52. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,318 shares of company stock valued at $2,098,866 in the last ninety days. Corporate insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. raised its position in shares of Skyward Specialty Insurance Group by 49.8% during the 3rd 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 increased its position in Skyward Specialty Insurance Group by 277.7% during the third quarter. Barclays PLC now owns 64,032 shares of the company’s stock worth $2,608,000 after buying an additional 47,081 shares in the last quarter. JPMorgan Chase & Co. raised 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 worth $3,515,000 after acquiring an additional 21,346 shares during the last quarter. Navellier & Associates Inc. purchased a new stake in shares of Skyward Specialty Insurance Group in the third quarter valued at $1,051,000. Finally, State Street Corp boosted its stake 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. 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.