Skyward Specialty Insurance Group (NASDAQ:SKWD) Earns Hold Rating from Analysts at TD Cowen

Equities researchers at TD Cowen started coverage on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) in a research note issued on Monday, MarketBeat.com reports. The brokerage set a "hold" rating and a $43.00 price target on the stock. TD Cowen's price objective points to a potential upside of 0.02% from the company's previous close.

Several other brokerages also recently issued reports on SKWD. Barclays lifted their price objective on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. JMP Securities lifted their price objective 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. Raymond James lifted their price objective on 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, Jefferies Financial Group lifted their price objective 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. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $48.22.

Skyward Specialty Insurance Group Trading Up 1.1 %

Shares of NASDAQ:SKWD traded up $0.48 during trading on Monday, hitting $42.99. 512,890 shares of the stock were exchanged, compared to its average volume of 421,913. The company has a fifty day moving average price of $50.27 and a two-hundred day moving average price of $43.74. The company has a market cap of $1.72 billion, a PE ratio of 13.11, a P/E/G ratio of 0.95 and a beta of 0.89. Skyward Specialty Insurance Group has a 12-month low of $29.40 and a 12-month high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.65 by $0.06. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The business had revenue of $300.89 million for the quarter, compared to analyst estimates of $292.43 million. During the same quarter in the previous year, the company earned $0.65 EPS. Equities research analysts anticipate that Skyward Specialty Insurance Group will post 3.06 earnings per share for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In related news, Director James Charles Hays sold 25,000 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the director now directly owns 747,261 shares of the company's stock, valued at approximately $40,352,094. This represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Haushill sold 1,630 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $49.06, for a total transaction of $79,967.80. Following the sale, the chief financial officer now directly owns 176,971 shares of the company's stock, valued at approximately $8,682,197.26. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,318 shares of company stock worth $2,098,866 in the last ninety days. Insiders own 8.01% of the company's stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new position in Skyward Specialty Insurance Group in the 4th quarter valued at about $61,000. Nordea Investment Management AB boosted its position in Skyward Specialty Insurance Group by 2.4% in the 4th quarter. Nordea Investment Management AB now owns 64,321 shares of the company's stock valued at $3,248,000 after buying an additional 1,523 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Skyward Specialty Insurance Group by 32.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company's stock valued at $3,515,000 after buying an additional 21,346 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Skyward Specialty Insurance Group by 49.8% during the third quarter. Principal Financial Group Inc. now owns 104,105 shares of the company's stock worth $4,240,000 after purchasing an additional 34,612 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Skyward Specialty Insurance Group by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company's stock worth $45,506,000 after purchasing an additional 158,679 shares during the last quarter. 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.