Skyward Specialty Insurance Group (NASDAQ:SKWD) Sets New 12-Month High – Time to Buy?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) shares hit a new 52-week high during trading on Thursday . The company traded as high as $46.23 and last traded at $46.12, with a volume of 8458 shares traded. The stock had previously closed at $45.43.

Analyst Upgrades and Downgrades

SKWD has been the subject of a number of analyst reports. Piper Sandler raised their price objective on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Oppenheimer initiated coverage on Skyward Specialty Insurance Group in a report on Friday, July 12th. They issued a “market perform” rating for the company. Jefferies Financial Group upped their price target on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Truist Financial reiterated a “buy” rating and issued a $49.00 price objective (up from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. Finally, JMP Securities restated a “market outperform” rating and set a $50.00 target price on shares of Skyward Specialty Insurance Group in a research note on Tuesday. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.78.

Skyward Specialty Insurance Group Price Performance

The company has a market capitalization of $1.84 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 0.81 and a beta of 0.60. The firm’s 50-day moving average is $40.44 and its 200-day moving average is $38.00.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.15. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. The firm had revenue of $279.94 million during the quarter, compared to the consensus estimate of $282.70 million. During the same quarter in the previous year, the firm posted $0.42 EPS. As a group, analysts forecast that Skyward Specialty Insurance Group, Inc. will post 2.98 EPS for the current fiscal year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $36.87, for a total transaction of $60,946.11. Following the transaction, the director now directly owns 4,001 shares of the company’s stock, valued at $147,516.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Skyward Specialty Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of SKWD. Amalgamated Bank increased its stake in Skyward Specialty Insurance Group by 27.7% in the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after buying an additional 279 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Skyward Specialty Insurance Group by 24.2% during the first quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock worth $111,000 after purchasing an additional 579 shares in the last quarter. Arizona State Retirement System raised its stake in Skyward Specialty Insurance Group by 24.2% during the 2nd quarter. Arizona State Retirement System now owns 9,516 shares of the company’s stock valued at $344,000 after purchasing an additional 1,854 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Skyward Specialty Insurance Group by 67.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock worth $204,000 after purchasing an additional 2,270 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in Skyward Specialty Insurance Group by 26.3% in the 1st quarter. Diversified Trust Co now owns 11,775 shares of the company’s stock worth $441,000 after purchasing an additional 2,450 shares during the period. 94.83% of the stock is currently owned by institutional investors.

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.