Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $53.00

Skyward Specialty Insurance Group (NASDAQ:SKWD - Free Report) had its target price hoisted by Barclays from $45.00 to $53.00 in a research note issued to investors on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities analysts have also recently commented on the company. Raymond James upped their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a "strong-buy" rating in a report on Tuesday, November 5th. Jefferies Financial Group upped their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, JMP Securities lifted their price target on shares of 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. Three equities research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.78.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD traded down $1.38 during mid-day trading on Monday, hitting $45.09. The company's stock had a trading volume of 565,125 shares, compared to its average volume of 409,575. The stock's 50-day moving average is $50.23 and its two-hundred day moving average is $43.49. The firm has a market capitalization of $1.81 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89. Skyward Specialty Insurance Group has a one year low of $29.40 and a one year high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.06. The company had revenue of $300.89 million for 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 period last year, the business posted $0.65 EPS. Analysts expect that Skyward Specialty Insurance Group will post 3.06 EPS 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 stock in a transaction that occurred 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 completion of the transaction, the director now owns 747,261 shares of the company's stock, valued at $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 available at this link. Also, insider Thomas N. Schmitt sold 546 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $46.85, for a total value of $25,580.10. Following the completion of the transaction, the insider now owns 10,246 shares of the company's stock, valued at $480,025.10. The trade was a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,056 shares of company stock valued at $2,086,938. 8.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Hedge funds have recently modified their holdings of the business. Jennison Associates LLC raised its stake 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 worth $52,786,000 after buying an additional 12,484 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Skyward Specialty Insurance Group by 2.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company's stock worth $45,528,000 after acquiring an additional 34,286 shares during the period. Franklin Resources Inc. raised its position in shares of Skyward Specialty Insurance Group by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company's stock worth $45,506,000 after acquiring an additional 158,679 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Skyward Specialty Insurance Group by 9.2% in the 2nd quarter. American Century Companies Inc. now owns 919,548 shares of the company's stock valued at $33,269,000 after purchasing an additional 77,354 shares during the period. Finally, Emerald Advisers LLC boosted its position in shares of Skyward Specialty Insurance Group by 3.4% during the 3rd quarter. Emerald Advisers LLC now owns 874,581 shares of the company's stock valued at $35,622,000 after purchasing an additional 28,618 shares in the last quarter. 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.