Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $61.00 at Truist Financial

Skyward Specialty Insurance Group (NASDAQ:SKWD - Free Report) had its target price hoisted by Truist Financial from $54.00 to $61.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently issued reports on SKWD. TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a "hold" rating and a $43.00 price objective for the company. Piper Sandler cut their price objective on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Keefe, Bruyette & Woods upped their target price on Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Barclays increased their target price on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Finally, JMP Securities reissued a "market outperform" rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group presently has a consensus rating of "Moderate Buy" and an average price target of $55.00.

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Skyward Specialty Insurance Group Stock Up 4.1 %

Skyward Specialty Insurance Group stock traded up $2.12 during midday trading on Thursday, reaching $54.14. 713,539 shares of the stock traded hands, compared to its average volume of 344,565. The stock has a market cap of $2.17 billion, a P/E ratio of 16.51, a PEG ratio of 0.81 and a beta of 0.83. The stock's fifty day moving average is $47.44 and its 200-day moving average is $46.13. Skyward Specialty Insurance Group has a 12 month low of $33.27 and a 12 month high of $55.62.

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

Insider Activity

In other news, Director James Charles Hays sold 25,000 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was 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. The trade was a 3.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew S. Robinson sold 6,010 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 77,144 shares in the company, valued at $3,808,599.28. The trade was a 7.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,318 shares of company stock valued at $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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter valued at $6,048,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Skyward Specialty Insurance Group by 35.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,587 shares of the company's stock valued at $4,326,000 after acquiring an additional 22,313 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Skyward Specialty Insurance Group by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 10,461 shares of the company's stock valued at $529,000 after purchasing an additional 3,442 shares during the period. Quantedge Capital Pte Ltd purchased a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $445,000. Finally, Man Group plc acquired a new stake in Skyward Specialty Insurance Group during the fourth quarter worth about $507,000. Hedge funds and other institutional investors 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.