Skyward Specialty Insurance Group (NASDAQ:SKWD) Reaches New 1-Year High – Time to Buy?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) reached a new 52-week high on Monday . The stock traded as high as $60.93 and last traded at $58.76, with a volume of 38576 shares trading hands. The stock had previously closed at $59.87.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JMP Securities raised their price target on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods lifted their target price on Skyward Specialty Insurance Group from $57.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday. Piper Sandler lifted their target price on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Truist Financial lifted their target price on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Finally, Citigroup reiterated an “outperform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.13.

Skyward Specialty Insurance Group Trading Down 0.4%

The stock has a 50 day moving average of $52.65 and a 200-day moving average of $50.13. The stock has a market capitalization of $2.41 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The business had revenue of $328.53 million during the quarter, compared to analyst estimates of $310.94 million. During the same period in the previous year, the company posted $0.75 EPS. Research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insider Activity

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 6,300 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $51.92, for a total transaction of $327,096.00. Following the sale, the insider now owns 3,946 shares in the company, valued at approximately $204,876.32. The trade was a 61.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John A. Burkhart III sold 4,832 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the sale, the insider now owns 17,655 shares in the company, valued at approximately $886,987.20. The trade was a 21.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,132 shares of company stock worth $620,476. 8.01% of the stock is currently owned by company insiders.

Institutional Trading of Skyward Specialty Insurance Group

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Skyward Specialty Insurance Group by 10.0% during the first quarter. Vanguard Group Inc. now owns 2,503,156 shares of the company’s stock worth $132,467,000 after purchasing an additional 227,921 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Skyward Specialty Insurance Group by 54.0% in the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock valued at $79,744,000 after purchasing an additional 553,389 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Skyward Specialty Insurance Group by 9.1% in the fourth quarter. Invesco Ltd. now owns 1,217,329 shares of the company’s stock valued at $61,524,000 after purchasing an additional 102,042 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Skyward Specialty Insurance Group by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company’s stock valued at $58,860,000 after purchasing an additional 47,363 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Skyward Specialty Insurance Group by 37.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company’s stock valued at $52,995,000 after purchasing an additional 283,749 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.