JMP Securities Raises Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $50.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target boosted by JMP Securities from $47.00 to $50.00 in a report issued on Tuesday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

SKWD has been the subject of a number of other reports. Keefe, Bruyette & Woods upped their price target on Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the company an outperform rating in a research note on Wednesday, May 8th. Truist Financial upped their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the company a buy rating in a research report on Friday, May 3rd. Finally, Oppenheimer began coverage on Skyward Specialty Insurance Group in a report on Friday, July 12th. They issued a market perform rating for the company. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $43.63.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD traded down $0.58 during mid-day trading on Tuesday, hitting $37.01. The company’s stock had a trading volume of 139,893 shares, compared to its average volume of 361,228. Skyward Specialty Insurance Group has a one year low of $22.97 and a one year high of $41.11. The firm has a market capitalization of $1.48 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 0.78 and a beta of 0.61. The stock’s 50-day moving average is $36.89 and its two-hundred day moving average is $35.81.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.15. Skyward Specialty Insurance Group had a return on equity of 15.98% and a net margin of 11.16%. The business had revenue of $279.94 million for the quarter, compared to analysts’ expectations of $282.70 million. During the same quarter last year, the business earned $0.42 earnings per share. Analysts expect that Skyward Specialty Insurance Group will post 2.81 EPS for the current fiscal year.

Institutional Trading of Skyward Specialty Insurance Group

Several hedge funds have recently made changes to their positions in SKWD. Vanguard Group Inc. boosted its holdings in Skyward Specialty Insurance Group by 109.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company’s stock worth $41,390,000 after buying an additional 790,826 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter valued at $688,000. International Assets Investment Management LLC purchased a new stake in Skyward Specialty Insurance Group during the 4th quarter worth about $161,000. Allspring Global Investments Holdings LLC boosted its stake in Skyward Specialty Insurance Group by 223.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 389,530 shares of the company’s stock worth $13,197,000 after purchasing an additional 269,080 shares during the period. Finally, Moody Aldrich Partners LLC grew its holdings in Skyward Specialty Insurance Group by 71.1% during the 4th quarter. Moody Aldrich Partners LLC now owns 212,553 shares of the company’s stock valued at $7,201,000 after buying an additional 88,333 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

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.