Wolfe Research Reiterates Peer Perform Rating for Skyward Specialty Insurance Group (NASDAQ:SKWD)

Wolfe Research reissued their peer perform rating on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD - Free Report) in a research report sent to investors on Friday, Marketbeat reports.

A number of other research analysts have also recently weighed in on SKWD. Raymond James lifted their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a "strong-buy" rating in a research report on Tuesday, November 5th. Barclays lifted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Truist Financial increased their price objective on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Piper Sandler lowered their target price on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Finally, TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a "hold" rating and a $43.00 target price for the company. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

Remove Ads

Skyward Specialty Insurance Group Stock Down 2.5 %

SKWD traded down $1.35 during trading on Friday, hitting $52.79. The company's stock had a trading volume of 637,223 shares, compared to its average volume of 345,725. The business's 50 day simple moving average is $47.52 and its 200-day simple moving average is $46.25. The firm has a market cap of $2.12 billion, a PE ratio of 16.09, a P/E/G ratio of 0.81 and a beta of 0.83. Skyward Specialty Insurance Group has a one year low of $33.27 and a one year high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The company had revenue of $304.40 million for the quarter, compared to analysts' expectations of $295.56 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. Equities research analysts expect that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 546 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $46.85, for a total transaction of $25,580.10. Following the completion of the transaction, the insider now owns 10,246 shares in the company, valued at $480,025.10. This trade represents a 5.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew S. Robinson sold 6,010 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total transaction of $296,713.70. Following the completion of the sale, the chief executive officer now owns 77,144 shares in the company, valued at $3,808,599.28. This represents a 7.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,318 shares of company stock worth $748,866 in the last 90 days. 8.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Skyward Specialty Insurance Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company's stock valued at $114,990,000 after buying an additional 16,572 shares in the last quarter. American Century Companies Inc. increased its stake in Skyward Specialty Insurance Group by 54.0% during the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock worth $79,744,000 after acquiring an additional 553,389 shares during the last quarter. Jennison Associates LLC raised 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 valued at $52,786,000 after purchasing an additional 12,484 shares during the period. Invesco Ltd. lifted its stake in shares of Skyward Specialty Insurance Group by 9.1% in the 4th quarter. Invesco Ltd. now owns 1,217,329 shares of the company's stock valued at $61,524,000 after purchasing an additional 102,042 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Skyward Specialty Insurance Group by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company's stock valued at $58,860,000 after purchasing an additional 47,363 shares during the last quarter. 94.83% of the stock is owned by hedge funds and other 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.