Skyward Specialty Insurance Group (NASDAQ:SKWD) Hits New 1-Year High – What’s Next?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $50.53 and last traded at $50.53, with a volume of 10741 shares traded. The stock had previously closed at $49.73.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Piper Sandler lifted their target price 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. Truist Financial reissued a “buy” rating and issued a $49.00 price objective (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. Jefferies Financial Group raised their target price 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. JMP Securities boosted their price target on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of 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. Three equities research 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.89.

Skyward Specialty Insurance Group Trading Up 0.4 %

The company’s 50 day moving average is $43.70 and its 200-day moving average is $39.46. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 0.90 and a beta of 0.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $300.89 million for the quarter, compared to analyst estimates of $292.43 million. During the same period in the previous year, the firm earned $0.65 EPS. Research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current year.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Large investors have recently modified their holdings of the stock. Swiss National Bank grew its stake in Skyward Specialty Insurance Group by 111.5% in the 1st quarter. Swiss National Bank now owns 55,000 shares of the company’s stock valued at $2,058,000 after buying an additional 29,000 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Skyward Specialty Insurance Group in the second quarter valued at approximately $10,152,000. American Century Companies Inc. increased its stake in shares of Skyward Specialty Insurance Group by 9.2% during the second quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock worth $33,269,000 after purchasing an additional 77,354 shares during the period. Capital International Investors lifted its holdings in Skyward Specialty Insurance Group by 48.0% during the 1st quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock worth $82,767,000 after purchasing an additional 717,972 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Skyward Specialty Insurance Group by 439.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 71,909 shares of the company’s stock valued at $2,691,000 after purchasing an additional 58,578 shares during the period. 94.83% of the stock is owned by 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.