Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives Consensus Rating of “Moderate Buy” from Analysts

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been given a consensus rating of “Moderate Buy” by the eleven research firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $46.89.

A number of brokerages recently weighed in on SKWD. Jefferies Financial Group increased their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Barclays raised their price target on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Piper Sandler lifted their price objective on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Keefe, Bruyette & Woods increased their target price on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, William Blair began coverage on Skyward Specialty Insurance Group in a research note on Monday, August 19th. They set an “outperform” rating for the company.

Institutional Trading of Skyward Specialty Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of SKWD. Wasatch Advisors LP boosted its holdings in Skyward Specialty Insurance Group by 5.7% in the 3rd quarter. Wasatch Advisors LP now owns 292,175 shares of the company’s stock worth $11,900,000 after buying an additional 15,681 shares during the period. PDT Partners LLC boosted its stake in shares of Skyward Specialty Insurance Group by 13.8% in the third quarter. PDT Partners LLC now owns 68,957 shares of the company’s stock worth $2,809,000 after acquiring an additional 8,367 shares during the period. Verition Fund Management LLC grew its position in shares of Skyward Specialty Insurance Group by 101.1% during the third quarter. Verition Fund Management LLC now owns 42,526 shares of the company’s stock worth $1,732,000 after purchasing an additional 21,381 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Skyward Specialty Insurance Group by 78.4% during the third quarter. Rockefeller Capital Management L.P. now owns 304,500 shares of the company’s stock worth $12,402,000 after purchasing an additional 133,855 shares in the last quarter. Finally, Martingale Asset Management L P lifted its holdings in Skyward Specialty Insurance Group by 23.2% in the 3rd quarter. Martingale Asset Management L P now owns 41,955 shares of the company’s stock worth $1,709,000 after purchasing an additional 7,899 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Skyward Specialty Insurance Group Trading Up 0.4 %

SKWD stock opened at $49.73 on Friday. The stock’s 50 day simple moving average is $43.70 and its 200 day simple moving average is $39.46. Skyward Specialty Insurance Group has a 12-month low of $29.40 and a 12-month high of $50.35. The stock has a market capitalization of $1.99 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 0.91 and a beta of 0.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The company had revenue of $300.89 million for the quarter, compared to analysts’ expectations of $292.43 million. During the same period last year, the firm posted $0.65 earnings per share. On average, research analysts predict that Skyward Specialty Insurance Group will post 3.06 earnings per share for the current year.

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.