Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Cut to $57.00 by Analysts at Keefe, Bruyette & Woods

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) had its price objective decreased by analysts at Keefe, Bruyette & Woods from $62.00 to $57.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price target points to a potential upside of 6.32% from the stock's previous close.

A number of other equities research analysts have also recently commented on SKWD. Truist Financial raised their price objective on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a "hold" rating and a $43.00 price objective for the company. Wolfe Research restated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Barclays upgraded shares of Skyward Specialty Insurance Group from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $53.00 to $63.00 in a research report on Friday, March 14th. Finally, Piper Sandler lowered their price target on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $57.00.

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Skyward Specialty Insurance Group Stock Performance

SKWD traded up $1.08 during trading on Wednesday, hitting $53.61. The stock had a trading volume of 102,966 shares, compared to its average volume of 378,767. The stock has a 50 day simple moving average of $50.56 and a two-hundred day simple moving average of $48.55. Skyward Specialty Insurance Group has a twelve month low of $33.27 and a twelve month high of $55.62. The company has a market capitalization of $2.16 billion, a PE ratio of 16.34, a PEG ratio of 0.81 and a beta of 0.63.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $295.56 million. On average, equities research analysts anticipate that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 6,300 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the sale, the insider now directly owns 3,946 shares in the company, valued at $204,876.32. This represents a 61.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gena L. Ashe sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.62, for a total transaction of $50,620.00. Following the completion of the transaction, the director now directly owns 734 shares of the company's stock, valued at approximately $37,155.08. The trade was a 57.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,132 shares of company stock worth $620,476. 8.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of hedge funds have recently bought and sold shares of SKWD. Reinhart Partners LLC. acquired a new stake in Skyward Specialty Insurance Group in the first quarter valued at approximately $49,979,000. Summit Global Investments acquired a new stake in shares of Skyward Specialty Insurance Group in the 1st quarter valued at $1,392,000. GAMMA Investing LLC lifted its position in shares of Skyward Specialty Insurance Group by 6,374.4% during the 1st quarter. GAMMA Investing LLC now owns 17,675 shares of the company's stock worth $935,000 after purchasing an additional 17,402 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Skyward Specialty Insurance Group during the fourth quarter worth $6,048,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Skyward Specialty Insurance Group by 35.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,587 shares of the company's stock valued at $4,326,000 after buying an additional 22,313 shares in the last quarter. Institutional investors and hedge funds 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.