Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price Expected to Rise, Raymond James Analyst Says

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective increased by research analysts at Raymond James from $45.00 to $55.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price target points to a potential upside of 24.41% from the stock’s current price.

SKWD has been the subject of a number of other research reports. JMP Securities lifted their price objective on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Piper Sandler lifted their price objective on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. William Blair assumed coverage on shares of Skyward Specialty Insurance Group in a report on Monday, August 19th. They set an “outperform” rating on the stock. Truist Financial restated a “buy” rating and issued a $49.00 price target (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. Finally, Barclays increased their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.89.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD traded up $0.90 during midday trading on Tuesday, hitting $44.21. The stock had a trading volume of 55,437 shares, compared to its average volume of 357,697. The stock’s 50 day moving average is $42.46 and its 200 day moving average is $38.81. The firm has a market cap of $1.77 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. Skyward Specialty Insurance Group has a 1 year low of $27.56 and a 1 year high of $48.40.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Skyward Specialty Insurance Group had a return on equity of 17.01% and a net margin of 12.24%. The firm had revenue of $300.89 million for the quarter, compared to analysts’ expectations of $292.43 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. As a group, equities research analysts expect that Skyward Specialty Insurance Group will post 3.06 earnings per share for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group 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 completion of the transaction, the director now owns 4,001 shares in the company, valued at approximately $147,516.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

A number of hedge funds have recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC increased its holdings in Skyward Specialty Insurance Group by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 38,037 shares of the company’s stock valued at $1,549,000 after buying an additional 306 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Skyward Specialty Insurance Group by 49.8% during the 3rd quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock valued at $4,240,000 after acquiring an additional 34,612 shares during the period. Callahan Advisors LLC increased its stake in shares of Skyward Specialty Insurance Group by 8.6% in the 3rd quarter. Callahan Advisors LLC now owns 50,254 shares of the company’s stock valued at $2,047,000 after purchasing an additional 3,988 shares in the last quarter. Emerald Advisers LLC raised its holdings in Skyward Specialty Insurance Group by 3.4% in the 3rd quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock worth $35,622,000 after purchasing an additional 28,618 shares during the period. Finally, Arcadia Investment Management Corp MI acquired a new position in Skyward Specialty Insurance Group in the 3rd quarter worth about $41,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

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.