Skyward Specialty Insurance Group (NASDAQ:SKWD) Sets New 52-Week High - Should You Buy?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $54.93 and last traded at $54.93, with a volume of 214618 shares trading hands. The stock had previously closed at $54.16.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SKWD shares. Piper Sandler increased their target price on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. William Blair started coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, August 19th. They issued an "outperform" rating for the company. Keefe, Bruyette & Woods increased their target price 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. Truist Financial restated a "buy" rating and set a $49.00 price target (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Finally, Raymond James raised their price target on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $46.89.

Skyward Specialty Insurance Group Stock Down 0.6 %

The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 0.98 and a beta of 0.76. The business's fifty day moving average is $47.23 and its two-hundred day moving average is $41.08.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.06. The business had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same quarter last year, the business posted $0.65 earnings per share. Research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current year.

Insiders Place Their Bets

In related news, Director James Charles Hays sold 25,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total value of $1,350,000.00. Following the sale, the director now directly owns 747,261 shares of the company's stock, valued at approximately $40,352,094. The trade was a 3.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 8.01% of the company's stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its position in 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 in the last quarter. Barclays PLC lifted its position in Skyward Specialty Insurance Group by 277.7% during the 3rd quarter. Barclays PLC now owns 64,032 shares of the company's stock worth $2,608,000 after buying an additional 47,081 shares in the last quarter. Orion Portfolio Solutions LLC bought a new stake in Skyward Specialty Insurance Group during the 3rd quarter worth about $297,000. XTX Topco Ltd bought a new stake in Skyward Specialty Insurance Group during the 3rd quarter worth about $394,000. Finally, Two Sigma Advisers LP lifted its position in Skyward Specialty Insurance Group by 15.3% during the 3rd quarter. Two Sigma Advisers LP now owns 490,200 shares of the company's stock worth $19,966,000 after buying an additional 65,200 shares in the last quarter. 94.83% of the stock is 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.