Truist Financial Issues Positive Forecast for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective lifted by Truist Financial from $54.00 to $61.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

SKWD has been the topic of a number of other research reports. Raymond James upped their price target on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 5th. TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They set a “hold” rating and a $43.00 price objective on the stock. Barclays upped their target price on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. JMP Securities restated a “market outperform” rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Finally, Piper Sandler reduced their price objective on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD opened at $52.21 on Thursday. Skyward Specialty Insurance Group has a one year low of $33.27 and a one year high of $55.62. The company has a market cap of $2.09 billion, a P/E ratio of 15.92, a P/E/G ratio of 0.81 and a beta of 0.83. The firm has a 50 day simple moving average of $47.42 and a two-hundred day simple moving average of $45.87.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The firm had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $295.56 million. On average, analysts expect that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, EVP Sandip A. Kapadia sold 908 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.98, for a total value of $42,657.84. Following the sale, the executive vice president now directly owns 10,371 shares in the company, valued at $487,229.58. This represents a 8.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas N. Schmitt sold 637 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $47.81, for a total transaction of $30,454.97. Following the completion of the sale, the insider now owns 10,792 shares in the company, valued at $515,965.52. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,318 shares of company stock valued at $2,098,866. Company insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

Several institutional investors and hedge funds have recently made changes to their positions in SKWD. DekaBank Deutsche Girozentrale raised its position in shares of Skyward Specialty Insurance Group by 54.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 12,353 shares of the company’s stock valued at $496,000 after buying an additional 4,334 shares in the last quarter. US Bancorp DE grew its holdings in Skyward Specialty Insurance Group by 17.2% in the 3rd quarter. US Bancorp DE now owns 14,129 shares of the company’s stock worth $575,000 after acquiring an additional 2,073 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Skyward Specialty Insurance Group during the 3rd quarter valued at about $41,000. Emerald Advisers LLC boosted its stake in shares of Skyward Specialty Insurance Group by 3.4% during the 3rd quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock valued at $35,622,000 after purchasing an additional 28,618 shares in the last quarter. Finally, Callahan Advisors LLC boosted its stake in shares of Skyward Specialty Insurance Group by 8.6% during 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. 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.