JMP Securities Increases Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $45.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price lifted by equities research analysts at JMP Securities from $42.00 to $45.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 19.74% from the stock’s previous close.

Several other analysts also recently issued reports on SKWD. BMO Capital Markets boosted their price target on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. Keefe, Bruyette & Woods upped their target price on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Piper Sandler upped their target price on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Truist Financial upped their target price on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Finally, Wolfe Research assumed coverage on Skyward Specialty Insurance Group in a research report on Thursday, January 11th. They set an “outperform” rating and a $39.00 target price for the company. One research analyst has 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, the stock presently has an average rating of “Buy” and a consensus price target of $40.56.

Skyward Specialty Insurance Group Trading Up 5.1 %

Shares of NASDAQ SKWD opened at $37.58 on Thursday. The stock has a 50 day moving average of $36.20 and a 200-day moving average of $33.25. The company has a market capitalization of $1.50 billion, a P/E ratio of 13.82 and a beta of 0.68. Skyward Specialty Insurance Group has a 12 month low of $21.21 and a 12 month high of $38.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.09. The business had revenue of $264.97 million during the quarter, compared to the consensus estimate of $251.66 million. Skyward Specialty Insurance Group had a return on equity of 16.81% and a net margin of 11.16%. During the same period in the previous year, the company posted $0.42 EPS. Analysts predict that Skyward Specialty Insurance Group will post 2.64 EPS for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In other news, CEO Andrew S. Robinson sold 13,407 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $35.63, for a total transaction of $477,691.41. Following the completion of the transaction, the chief executive officer now owns 61,126 shares of the company’s stock, valued at approximately $2,177,919.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Andrew S. Robinson sold 13,407 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $35.63, for a total transaction of $477,691.41. Following the completion of the transaction, the chief executive officer now owns 61,126 shares of the company’s stock, valued at approximately $2,177,919.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew S. Robinson sold 12,109 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $35.56, for a total value of $430,596.04. Following the transaction, the chief executive officer now directly owns 74,533 shares of the company’s stock, valued at approximately $2,650,393.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,890 shares of company stock valued at $3,533,839. Corporate insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank increased its holdings in Skyward Specialty Insurance Group by 90.9% in the 3rd quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock worth $63,000 after purchasing an additional 1,095 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Skyward Specialty Insurance Group by 54.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock valued at $114,000 after buying an additional 1,186 shares during the period. Adalta Capital Management LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the third quarter valued at about $137,000. International Assets Investment Management LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $161,000. Finally, New York State Common Retirement Fund increased its stake in shares of Skyward Specialty Insurance Group by 82.2% in the third quarter. New York State Common Retirement Fund now owns 6,895 shares of the company’s stock valued at $189,000 after buying an additional 3,110 shares during the period. 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.