Skyward Specialty Insurance Group (NASDAQ:SKWD) Given Market Outperform Rating at JMP Securities

Skyward Specialty Insurance Group (NASDAQ:SKWD)‘s stock had its “market outperform” rating restated by equities researchers at JMP Securities in a research report issued on Tuesday, Benzinga reports. They currently have a $50.00 target price on the stock. JMP Securities’ price objective points to a potential upside of 9.08% from the stock’s current price.

SKWD has been the topic of several other research reports. Truist Financial reaffirmed a “buy” rating and set a $49.00 price target (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. Piper Sandler lifted their target price on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods lifted their target price on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. William Blair started coverage on Skyward Specialty Insurance Group in a research note on Monday, August 19th. They set an “outperform” rating for the company. Finally, Jefferies Financial Group lifted their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.78.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD traded up $0.34 during mid-day trading on Tuesday, hitting $45.84. The company had a trading volume of 116,918 shares, compared to its average volume of 356,637. Skyward Specialty Insurance Group has a fifty-two week low of $27.12 and a fifty-two week high of $45.92. The business’s fifty day moving average is $40.12 and its two-hundred day moving average is $37.89. The firm has a market cap of $1.84 billion, a P/E ratio of 15.48, a P/E/G ratio of 0.81 and a beta of 0.60.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.15. The company had revenue of $279.94 million during the quarter, compared to the consensus estimate of $282.70 million. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. During the same period in the prior year, the company earned $0.42 earnings per share. Equities analysts forecast that Skyward Specialty Insurance Group will post 2.98 earnings per share for the current year.

Insider Activity at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 4,001 shares in the company, valued at approximately $147,516.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of institutional investors have recently modified their holdings of SKWD. Quadrature Capital Ltd raised its holdings in shares of Skyward Specialty Insurance Group by 15.5% during the 4th quarter. Quadrature Capital Ltd now owns 46,504 shares of the company’s stock worth $1,576,000 after buying an additional 6,232 shares in the last quarter. Diversified Trust Co increased its holdings 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 in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Skyward Specialty Insurance Group by 19.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock worth $17,383,000 after purchasing an additional 75,137 shares in the last quarter. Wasatch Advisors LP increased its holdings in Skyward Specialty Insurance Group by 5.9% in the 1st quarter. Wasatch Advisors LP now owns 276,494 shares of the company’s stock worth $10,344,000 after purchasing an additional 15,407 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Skyward Specialty Insurance Group in the 1st quarter worth about $1,672,000. Institutional investors and hedge funds 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.