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

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $54.86 and last traded at $54.07, with a volume of 10515 shares changing hands. The stock had previously closed at $53.70.

Analyst Ratings Changes

Several equities analysts have weighed in on SKWD shares. JMP Securities lifted their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a "market outperform" rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their target price on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, August 12th. Barclays lifted their target price on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. William Blair started coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They issued an "outperform" rating for the company. Finally, Jefferies Financial Group boosted their price objective on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Skyward Specialty Insurance Group currently has an average rating of "Moderate Buy" and a consensus target price of $46.89.

Skyward Specialty Insurance Group Price Performance

The firm has a 50 day moving average of $46.43 and a two-hundred day moving average of $40.67. The stock has a market cap of $2.17 billion, a PE ratio of 16.50, a PEG ratio of 0.97 and a beta of 0.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.06. The firm had revenue of $300.89 million during the quarter, compared to analysts' expectations of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same quarter in the previous year, the business earned $0.65 earnings per share. As a group, equities analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in Skyward Specialty Insurance Group by 49.8% in the third quarter. Principal Financial Group Inc. now owns 104,105 shares of the company's stock valued at $4,240,000 after buying an additional 34,612 shares during the last quarter. Marshall Wace LLP purchased a new stake in Skyward Specialty Insurance Group in the second quarter valued at approximately $10,152,000. American Century Companies Inc. lifted its stake in Skyward Specialty Insurance Group by 9.2% in the second quarter. American Century Companies Inc. now owns 919,548 shares of the company's stock valued at $33,269,000 after buying an additional 77,354 shares during the last quarter. Navellier & Associates Inc. purchased a new stake in Skyward Specialty Insurance Group in the third quarter valued at approximately $1,051,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Skyward Specialty Insurance Group by 439.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 71,909 shares of the company's stock valued at $2,691,000 after buying an additional 58,578 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

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.