Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock Has Average Price Target of $71.11

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has earned a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $70.70.

A number of brokerages have issued reports on SKWD. Truist Financial upped their target price on Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Piper Sandler reissued an “overweight” rating on shares of Skyward Specialty Insurance Group in a research report on Monday, August 24th. TD Cowen boosted their price objective on shares of Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, August 11th. Barclays upped their price objective on shares of Skyward Specialty Insurance Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Wall Street Zen upgraded shares of Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a research note on Sunday, October 18th.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ SKWD opened at $59.80 on Tuesday. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 13.97 and a beta of 0.32. The business’s 50-day simple moving average is $58.02 and its 200-day simple moving average is $52.07. Skyward Specialty Insurance Group has a 52 week low of $40.60 and a 52 week high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Thursday, November 5th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $455.34 million for the quarter, compared to the consensus estimate of $753.93 million. As a group, equities research analysts forecast that Skyward Specialty Insurance Group will post 5.00 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Skyward Specialty Insurance Group in the second quarter valued at about $214,576,000. Aberdeen Group plc increased its stake in shares of Skyward Specialty Insurance Group by 232.6% in the third quarter. Aberdeen Group plc now owns 1,173,935 shares of the company’s stock worth $57,194,000 after purchasing an additional 821,028 shares during the period. Wasatch Advisors LP increased its stake in shares of Skyward Specialty Insurance Group by 198.5% in 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 period. Freestone Grove Partners LP acquired a new position in shares of Skyward Specialty Insurance Group during the 2nd quarter worth about $21,142,000. Finally, Sei Investments Co. boosted its stake in Skyward Specialty Insurance Group by 397.5% during the 1st quarter. Sei Investments Co. now owns 433,298 shares of the company’s stock valued at $18,926,000 after purchasing an additional 346,202 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc is a specialty property and casualty insurer that provides coverage for businesses and other organizations with specialized or complex risks. It distributes its products primarily through insurance agents, brokers and other underwriting partners.

Its offerings span areas such as casualty, professional liability, property, energy, aviation, agriculture, surety and accident and health insurance. The company also works with program administrators to provide coverage tailored to particular industries and customer needs.

Based in Houston, Texas, Skyward Specialty focuses primarily on the U.S.