Piper Sandler Increases Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $46.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective raised by stock analysts at Piper Sandler from $43.00 to $46.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 21.24% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. JMP Securities lifted their target price on shares of Skyward Specialty Insurance Group from $38.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Wednesday, February 21st. Truist Financial lifted their target price on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Raymond James lifted their target price on shares of Skyward Specialty Insurance Group from $36.00 to $40.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, December 12th. BMO Capital Markets lifted their target price on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Skyward Specialty Insurance Group from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of “Buy” and an average price target of $39.56.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ SKWD opened at $37.94 on Monday. Skyward Specialty Insurance Group has a fifty-two week low of $19.70 and a fifty-two week high of $38.10. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 16.94 and a beta of 0.45. The firm’s 50-day simple moving average is $34.37 and its 200 day simple moving average is $32.08.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 15.27%. The business had revenue of $321.60 million for the quarter, compared to analysts’ expectations of $320.34 million. During the same quarter last year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, sell-side analysts predict that Skyward Specialty Insurance Group will post 2.63 EPS for the current year.

Insider Buying and Selling

In related news, CFO Mark W. Haushill sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $35.58, for a total value of $889,500.00. Following the sale, the chief financial officer now owns 236,688 shares of the company’s stock, valued at approximately $8,421,359.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 25,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $35.58, for a total transaction of $889,500.00. Following the sale, the chief financial officer now owns 236,688 shares of the company’s stock, valued at approximately $8,421,359.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew S. Robinson sold 13,407 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $35.63, for a total transaction of $477,691.41. Following the sale, the chief executive officer now directly owns 61,126 shares in the company, valued at approximately $2,177,919.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,890 shares of company stock valued at $3,533,839.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SKWD. Royce & Associates LP bought a new stake in Skyward Specialty Insurance Group during the 1st quarter valued at $7,538,000. Barclays PLC bought a new position in shares of Skyward Specialty Insurance Group in the first quarter worth $187,000. California State Teachers Retirement System bought a new position in shares of Skyward Specialty Insurance Group in the first quarter worth $84,000. Bank of New York Mellon Corp bought a new position in shares of Skyward Specialty Insurance Group in the first quarter worth $654,000. Finally, Rhumbline Advisers bought a new position in shares of Skyward Specialty Insurance Group in the first quarter worth $220,000. 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.