Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $46.89.

SKWD has been the topic of a number of recent 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. Jefferies Financial Group lifted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Raymond James upped their price objective on shares of 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. Finally, Barclays lifted 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, October 30th.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD traded down $0.64 during trading hours on Friday, hitting $50.80. The stock had a trading volume of 166,324 shares, compared to its average volume of 344,286. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 0.95 and a beta of 0.76. The firm has a 50-day moving average price of $49.98 and a 200 day moving average price of $42.84. Skyward Specialty Insurance Group has a fifty-two week low of $29.40 and a fifty-two week high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings data 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. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The business had revenue of $300.89 million during the quarter, compared to the consensus estimate of $292.43 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. As a group, analysts predict that Skyward Specialty Insurance Group will post 3.06 EPS for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In related news, Director James Charles Hays sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the transaction, the director now owns 747,261 shares in the company, valued at approximately $40,352,094. This trade represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.01% of the stock is owned by corporate insiders.

Institutional Trading of Skyward Specialty Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC increased its position in Skyward Specialty Insurance Group by 1.0% during the third quarter. Jennison Associates LLC now owns 1,296,001 shares of the company's stock worth $52,786,000 after purchasing an additional 12,484 shares during the last quarter. Driehaus Capital Management LLC grew its stake in shares of Skyward Specialty Insurance Group by 2.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company's stock valued at $45,528,000 after buying an additional 34,286 shares during the period. Franklin Resources Inc. increased its holdings in shares of Skyward Specialty Insurance Group by 16.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company's stock worth $45,506,000 after buying an additional 158,679 shares during the last quarter. American Century Companies Inc. raised its position 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 valued at $33,269,000 after buying an additional 77,354 shares during the period. Finally, Emerald Advisers LLC lifted its holdings in 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 acquiring an additional 28,618 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

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.