Skyward Specialty Insurance Group (NASDAQ:SKWD) Reaches New 12-Month High - What's Next?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $48.00 and last traded at $48.00, with a volume of 304 shares changing hands. The stock had previously closed at $46.37.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SKWD shares. Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday, August 12th. Jefferies Financial Group increased their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. William Blair began coverage on Skyward Specialty Insurance Group in a research note on Monday, August 19th. They issued an "outperform" rating on the stock. Piper Sandler increased their price objective on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Finally, Truist Financial restated a "buy" rating and issued a $49.00 target price (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of "Moderate Buy" and a consensus price target of $44.78.

Skyward Specialty Insurance Group Stock Up 0.5 %

The business's fifty day moving average is $41.27 and its two-hundred day moving average is $38.24. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 0.86 and a beta of 0.60.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its earnings results on Monday, August 5th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.15. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. The company had revenue of $279.94 million during the quarter, compared to the consensus estimate of $282.70 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. Research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 2.98 EPS for the current year.

Insider Buying and Selling

In related news, Director Katharine Terry sold 1,653 shares of the company's stock in a transaction dated 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 sale, 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 document filed with the SEC, which can be accessed through this link. 8.01% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SKWD. Capital International Investors lifted its stake 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 valued at $82,767,000 after buying an additional 717,972 shares in the last quarter. Vanguard Group Inc. lifted its position in Skyward Specialty Insurance Group by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company's stock valued at $76,458,000 after acquiring an additional 207,744 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in Skyward Specialty Insurance Group by 0.3% in the 1st quarter. Champlain Investment Partners LLC now owns 1,405,980 shares of the company's stock worth $52,598,000 after purchasing an additional 4,510 shares during the period. Driehaus Capital Management LLC increased its holdings in 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 purchasing an additional 34,286 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Skyward Specialty Insurance Group by 9.2% in the 2nd quarter. American Century Companies Inc. now owns 919,548 shares of the company's stock valued at $33,269,000 after purchasing an additional 77,354 shares during the period. 94.83% of the stock is 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.