Skyward Specialty Insurance Group (NASDAQ:SKWD) Lowered to Hold Rating by Jefferies Financial Group

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) was downgraded by equities researchers at Jefferies Financial Group from a "buy" rating to a "hold" rating in a note issued to investors on Friday, Marketbeat.com reports. They currently have a $59.00 price target on the stock, down from their previous price target of $62.00. Jefferies Financial Group's price target indicates a potential upside of 9.44% from the company's previous close.

Several other equities research analysts have also commented on the stock. Wolfe Research reaffirmed a "peer perform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Keefe, Bruyette & Woods decreased their price target on Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a "hold" rating and a $43.00 price objective on the stock. Truist Financial raised their price target on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Finally, Barclays raised shares of Skyward Specialty Insurance Group from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $53.00 to $63.00 in a research note on Friday, March 14th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of "Moderate Buy" and an average price target of $57.00.

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Skyward Specialty Insurance Group Price Performance

NASDAQ SKWD traded down $0.02 during trading on Friday, hitting $53.91. The company's stock had a trading volume of 274,783 shares, compared to its average volume of 379,269. Skyward Specialty Insurance Group has a fifty-two week low of $33.27 and a fifty-two week high of $55.62. The company has a market cap of $2.17 billion, a PE ratio of 16.44, a P/E/G ratio of 0.81 and a beta of 0.63. The business's 50 day simple moving average is $50.68 and its 200-day simple moving average is $48.64.

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. Analysts expect that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its position in Skyward Specialty Insurance Group by 756.1% in the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock valued at $46,000 after purchasing an additional 809 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter valued at approximately $61,000. Summit Investment Advisors Inc. increased its holdings in Skyward Specialty Insurance Group by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock valued at $196,000 after buying an additional 247 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth about $219,000. Finally, Pinnacle Financial Partners Inc acquired a new stake in Skyward Specialty Insurance Group in the 4th quarter valued at about $220,000. 94.83% of the stock is owned by hedge funds and other 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.