Skyward Specialty Insurance Group (NASDAQ:SKWD) Upgraded at Barclays

Barclays upgraded shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) from an equal weight rating to an overweight rating in a research note published on Friday morning, Marketbeat.com reports. Barclays currently has $63.00 target price on the stock, up from their prior target price of $53.00.

Other analysts also recently issued research reports about the stock. JMP Securities reissued a “market outperform” rating and issued a $60.00 price objective on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 price target for the company. Truist Financial increased their price target on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods increased their target price on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Skyward Specialty Insurance Group presently has a consensus rating of “Moderate Buy” and an average price target of $56.25.

Skyward Specialty Insurance Group Trading Up 5.1 %

Shares of NASDAQ SKWD opened at $49.78 on Friday. The business’s 50 day moving average is $47.38 and its 200-day moving average is $46.89. The firm has a market cap of $2.00 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 0.81 and a beta of 0.67. Skyward Specialty Insurance Group has a 1-year low of $33.27 and a 1-year high of $55.62.

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

Insider Buying and Selling

In other news, insider Thomas N. Schmitt sold 546 shares of the stock in a transaction dated 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 transaction, the insider now owns 10,246 shares of the company’s stock, valued at approximately $480,025.10. This represents a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sandip A. Kapadia sold 908 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.98, for a total transaction of $42,657.84. Following the completion of the sale, the executive vice president now owns 10,371 shares in the company, valued at approximately $487,229.58. The trade was a 8.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,450 shares of company stock worth $1,369,342 in the last ninety days. 8.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock valued at $114,990,000 after acquiring an additional 16,572 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Skyward Specialty Insurance Group by 54.0% during the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock valued at $79,744,000 after purchasing an additional 553,389 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Skyward Specialty Insurance Group by 1.0% during the third quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock worth $52,786,000 after purchasing an additional 12,484 shares during the last quarter. Invesco Ltd. increased its stake in shares of Skyward Specialty Insurance Group by 9.1% in the fourth quarter. Invesco Ltd. now owns 1,217,329 shares of the company’s stock valued at $61,524,000 after buying an additional 102,042 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Skyward Specialty Insurance Group by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company’s stock valued at $58,860,000 after buying an additional 47,363 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.