Barclays Forecasts Strong Price Appreciation for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price upped by research analysts at Barclays from $57.00 to $60.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 27.67% from the stock’s current price.

SKWD has been the subject of a number of other research reports. Susquehanna set a $80.00 price objective on shares of Skyward Specialty Insurance Group in a research note on Friday, January 16th. Keefe, Bruyette & Woods upgraded Skyward Specialty Insurance Group from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, March 13th. Wall Street Zen cut Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Piper Sandler lowered their price target on Skyward Specialty Insurance Group from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Finally, Citigroup reissued a “market outperform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.75.

Skyward Specialty Insurance Group Trading Up 3.3%

SKWD stock traded up $1.49 during mid-day trading on Friday, reaching $47.00. 179,139 shares of the stock traded hands, compared to its average volume of 483,158. Skyward Specialty Insurance Group has a 52-week low of $40.60 and a 52-week high of $65.05. The company has a market cap of $2.09 billion, a P/E ratio of 11.33 and a beta of 0.54. The stock’s fifty day moving average is $45.17 and its 200-day moving average is $46.50.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Wednesday, May 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.14. Skyward Specialty Insurance Group had a net margin of 11.36% and a return on equity of 19.52%. The business had revenue of $475.87 million for the quarter, compared to the consensus estimate of $665.12 million. During the same period last year, the firm posted $0.90 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts expect that Skyward Specialty Insurance Group will post 4.69 earnings per share for the current year.

Insider Activity at Skyward Specialty Insurance Group

In other news, Director Anthony J. Kuczinski bought 1,000 shares of the stock in a transaction on Tuesday, March 3rd. The shares were purchased at an average price of $48.13 per share, for a total transaction of $48,130.00. Following the completion of the purchase, the director directly owned 11,903 shares of the company’s stock, valued at $572,891.39. This trade represents a 9.17% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher Locke Peirce bought 3,200 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was purchased at an average cost of $47.30 per share, for a total transaction of $151,360.00. Following the completion of the transaction, the director owned 3,200 shares in the company, valued at approximately $151,360. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 30,500 shares of company stock valued at $1,433,546. Insiders own 8.52% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKWD. Financial Management Professionals Inc. acquired a new stake in Skyward Specialty Insurance Group in the fourth quarter valued at approximately $27,000. GAMMA Investing LLC increased its stake in shares of Skyward Specialty Insurance Group by 75.8% during the 4th quarter. GAMMA Investing LLC now owns 575 shares of the company’s stock worth $29,000 after purchasing an additional 248 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Skyward Specialty Insurance Group by 1,210.5% during the 3rd quarter. Assetmark Inc. now owns 747 shares of the company’s stock valued at $36,000 after purchasing an additional 690 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the 1st quarter valued at $37,000. Finally, Quarry LP lifted its stake in shares of Skyward Specialty Insurance Group by 558.9% in the 3rd quarter. Quarry LP now owns 995 shares of the company’s stock valued at $47,000 after purchasing an additional 844 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc (NASDAQ: SKWD) is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.