Skyward Specialty Insurance Group (NASDAQ:SKWD) Hits New 12-Month High - Here's Why

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $50.53 and last traded at $50.53, with a volume of 10741 shares trading hands. The stock had previously closed at $49.73.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JMP Securities lifted their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a "market outperform" rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their target price on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Barclays increased their price target on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. William Blair began coverage on Skyward Specialty Insurance Group in a report on Monday, August 19th. They set an "outperform" rating for the company. Finally, Raymond James lifted their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a "strong-buy" rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Skyward Specialty Insurance Group presently has a consensus rating of "Moderate Buy" and an average target price of $46.89.

Skyward Specialty Insurance Group Trading Up 0.1 %

The stock has a market capitalization of $2.00 billion, a P/E ratio of 15.18, a P/E/G ratio of 0.90 and a beta of 0.53. The business has a 50-day moving average price of $43.88 and a two-hundred day moving average price of $39.57.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.06. The firm had revenue of $300.89 million for the quarter, compared to the consensus estimate 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 period in the prior year, the company posted $0.65 earnings per share. On average, sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Large investors have recently modified their holdings of the business. Capital International Investors lifted its stake in Skyward Specialty Insurance Group by 48.0% in the 1st quarter. Capital International Investors now owns 2,212,423 shares of the company's stock valued at $82,767,000 after purchasing an additional 717,972 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Skyward Specialty Insurance Group in the 2nd quarter valued at $10,152,000. Dimensional Fund Advisors LP acquired a new stake in shares of Skyward Specialty Insurance Group during the 2nd quarter valued at $8,151,000. Vanguard Group Inc. grew its position in Skyward Specialty Insurance Group by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company's stock worth $76,458,000 after acquiring an additional 207,744 shares during the last quarter. Finally, Mutual of America Capital Management LLC acquired a new position in Skyward Specialty Insurance Group in the 2nd quarter worth about $6,568,000. Institutional investors and hedge funds own 94.83% of the company's stock.

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.