Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Gets Price Target Bump from Barclays

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target boosted by Barclays from $68.00 to $71.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 19.31% from the company’s previous close.

A number of other brokerages have also recently commented on SKWD. Keefe, Bruyette & Woods raised their price objective on Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Citigroup restated a “market outperform” rating on shares of Skyward Specialty Insurance Group in a report on Monday, October 12th. Wall Street Zen raised Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a research report on Sunday, October 18th. TD Cowen upped their target price on Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, August 11th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Skyward Specialty Insurance Group in a report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.44.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ SKWD traded down $4.35 during trading on Friday, hitting $59.51. 177,476 shares of the company traded hands, compared to its average volume of 469,412. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 13.92 and a beta of 0.32. The business’s fifty day moving average is $57.94 and its 200 day moving average is $51.92. Skyward Specialty Insurance Group has a fifty-two week low of $40.60 and a fifty-two week high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Thursday, November 5th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. Skyward Specialty Insurance Group had a return on equity of 18.72% and a net margin of 10.84%. The company had revenue of $455.34 million during the quarter, compared to the consensus estimate of $753.93 million. On average, analysts predict that Skyward Specialty Insurance Group will post 5.00 EPS for the current year.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in SKWD. BlackRock Inc. bought a new position in shares of Skyward Specialty Insurance Group during the second quarter valued at about $214,576,000. Wasatch Advisors LP boosted its holdings in Skyward Specialty Insurance Group by 198.5% during the second quarter. Wasatch Advisors LP now owns 954,489 shares of the company’s stock worth $55,694,000 after purchasing an additional 634,708 shares during the last quarter. Freestone Grove Partners LP bought a new stake in Skyward Specialty Insurance Group in the 2nd quarter worth about $21,142,000. Sei Investments Co. grew its position in Skyward Specialty Insurance Group by 397.5% in the 1st quarter. Sei Investments Co. now owns 433,298 shares of the company’s stock worth $18,926,000 after purchasing an additional 346,202 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Skyward Specialty Insurance Group in the 2nd quarter worth about $8,130,000. 94.83% of the stock is owned by institutional investors.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc is a specialty property and casualty insurance company headquartered in Houston, Texas. Through its insurance subsidiaries, the company provides customized coverage for businesses and organizations that may be underserved by the standard insurance market.

Its offerings include excess and surplus lines insurance, professional liability, healthcare liability, workers’ compensation, surety, commercial property and casualty coverage, specialty programs, and accident and health products.