Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $53.00

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) had its price target upped by equities researchers at JMP Securities from $50.00 to $53.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. JMP Securities' price target would suggest a potential upside of 17.78% from the company's current price.

A number of other equities analysts also recently issued reports on SKWD. William Blair assumed coverage on Skyward Specialty Insurance Group in a report on Monday, August 19th. They issued an "outperform" rating for the company. Barclays increased their target price on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an "equal weight" rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, August 12th. Jefferies Financial Group lifted their target price 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. Finally, Piper Sandler upped their target price on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $45.22.

Skyward Specialty Insurance Group Stock Performance

Shares of Skyward Specialty Insurance Group stock traded up $0.25 on Wednesday, reaching $45.00. The company had a trading volume of 355,062 shares, compared to its average volume of 359,978. The firm's 50 day moving average price is $42.10 and its two-hundred day moving average price is $38.57. Skyward Specialty Insurance Group has a 52-week low of $27.56 and a 52-week high of $48.40. The firm has a market cap of $1.80 billion, a PE ratio of 15.18, a PEG ratio of 0.85 and a beta of 0.60.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. The business had revenue of $300.89 million for the quarter, compared to analysts' expectations of $292.43 million. During the same period last year, the firm earned $0.65 earnings per share. As a group, sell-side analysts predict that Skyward Specialty Insurance Group will post 2.98 EPS for the current year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of the company's stock in a transaction that occurred 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 $147,516.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several large investors have recently added to or reduced their stakes in SKWD. Emerald Advisers LLC increased its stake in shares of Skyward Specialty Insurance Group by 3.4% in the third quarter. Emerald Advisers LLC now owns 874,581 shares of the company's stock valued at $35,622,000 after purchasing an additional 28,618 shares during the period. Arcadia Investment Management Corp MI acquired a new position in shares of Skyward Specialty Insurance Group during the third quarter valued at approximately $41,000. US Bancorp DE raised its holdings in Skyward Specialty Insurance Group by 17.2% during the third quarter. US Bancorp DE now owns 14,129 shares of the company's stock worth $575,000 after purchasing an additional 2,073 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Skyward Specialty Insurance Group by 54.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 12,353 shares of the company's stock worth $496,000 after purchasing an additional 4,334 shares during the period. Finally, Moody Aldrich Partners LLC boosted its stake in Skyward Specialty Insurance Group by 66.9% during the 3rd quarter. Moody Aldrich Partners LLC now owns 154,867 shares of the company's stock valued at $6,308,000 after purchasing an additional 62,080 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

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.

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