Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $48.22.

SKWD has been the topic of a number of analyst reports. JMP Securities increased 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 increased their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. Jefferies Financial Group increased their price target on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a research report on Monday, January 13th. They set a “hold” rating and a $43.00 price target on the stock. Finally, Barclays increased 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 report on Monday, January 6th.

Skyward Specialty Insurance Group Trading Up 1.5 %

Shares of NASDAQ SKWD opened at $43.30 on Wednesday. The firm has a market cap of $1.74 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 0.72 and a beta of 0.89. Skyward Specialty Insurance Group has a 1-year low of $29.40 and a 1-year high of $55.62. The business’s 50 day moving average is $49.15 and its 200-day moving average is $44.39.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The company had revenue of $300.89 million for the quarter, compared to analyst estimates of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same quarter last year, the company earned $0.65 earnings per share. Analysts forecast that Skyward Specialty Insurance Group will post 3.07 EPS for the current year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director James Charles Hays sold 25,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total value of $1,350,000.00. Following the completion of the transaction, the director now directly owns 747,261 shares in the company, valued at approximately $40,352,094. This represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew S. Robinson sold 6,010 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total value of $296,713.70. Following the completion of the transaction, the chief executive officer now owns 77,144 shares of the company’s stock, valued at $3,808,599.28. The trade was a 7.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,318 shares of company stock valued at $2,098,866. 8.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Arcadia Investment Management Corp MI bought a new position in Skyward Specialty Insurance Group during the 3rd quarter worth $41,000. ORG Wealth Partners LLC bought a new position in Skyward Specialty Insurance Group during the 4th quarter worth $61,000. Amalgamated Bank raised its position in Skyward Specialty Insurance Group by 27.7% during the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after purchasing an additional 279 shares during the last quarter. Quarry LP raised its position in Skyward Specialty Insurance Group by 176.9% during the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after purchasing an additional 879 shares during the last quarter. Finally, CWM LLC raised its position in Skyward Specialty Insurance Group by 3,103.1% during the 3rd quarter. CWM LLC now owns 4,132 shares of the company’s stock worth $168,000 after purchasing an additional 4,003 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

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.