JMP Securities Forecasts Strong Price Appreciation for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target increased by JMP Securities from $50.00 to $53.00 in a report published on Wednesday, Benzinga reports. The firm currently has a market outperform rating on the stock.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group increased their price objective on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays increased their price objective on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday. Keefe, Bruyette & Woods increased their price target on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. William Blair initiated coverage on Skyward Specialty Insurance Group in a report on Monday, August 19th. They set an “outperform” rating for the company. Finally, Piper Sandler increased their price target on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.22.

Skyward Specialty Insurance Group Trading Down 0.6 %

SKWD stock opened at $44.46 on Wednesday. The company has a market capitalization of $1.78 billion, a P/E ratio of 15.02, a PEG ratio of 0.85 and a beta of 0.60. Skyward Specialty Insurance Group has a twelve month low of $27.56 and a twelve month high of $48.40. The business has a 50 day simple moving average of $42.21 and a 200-day simple moving average of $38.61.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.07. The business had revenue of $300.89 million during the quarter, compared to the consensus estimate of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. During the same period in the prior year, the company earned $0.65 earnings per share. Research analysts predict that Skyward Specialty Insurance Group will post 2.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $36.87, for a total value of $60,946.11. Following the completion of the transaction, the director now owns 4,001 shares in the company, valued at approximately $147,516.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Capital International Investors raised its position in Skyward Specialty Insurance Group by 48.0% in the first quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock worth $82,767,000 after acquiring an additional 717,972 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Skyward Specialty Insurance Group by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock worth $76,458,000 after buying an additional 207,744 shares during the last quarter. Champlain Investment Partners LLC raised its stake in shares of Skyward Specialty Insurance Group by 0.3% during the 1st quarter. Champlain Investment Partners LLC now owns 1,405,980 shares of the company’s stock worth $52,598,000 after buying an additional 4,510 shares during the last quarter. Driehaus Capital Management LLC raised its stake in shares of Skyward Specialty Insurance Group by 2.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company’s stock worth $45,528,000 after buying an additional 34,286 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Skyward Specialty Insurance Group by 9.2% during the 2nd quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock worth $33,269,000 after buying an additional 77,354 shares during the last quarter. Hedge funds and other institutional investors 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.