Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $75.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price raised by Keefe, Bruyette & Woods from $72.00 to $75.00 in a report published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

SKWD has been the topic of several other reports. Wall Street Zen raised Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Truist Financial raised their price objective on shares of 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 lifted their price objective on shares of Skyward Specialty Insurance Group from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Texas Capital upgraded shares of Skyward Specialty Insurance Group to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, Barclays increased their target price on shares of Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $68.64.

Skyward Specialty Insurance Group Trading Down 2.5%

SKWD stock opened at $60.13 on Monday. The firm has a market cap of $2.67 billion, a PE ratio of 14.02 and a beta of 0.34. The stock has a 50-day moving average price of $57.10 and a 200-day moving average price of $49.46. Skyward Specialty Insurance Group has a 1-year low of $40.60 and a 1-year high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Tuesday, August 4th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. Skyward Specialty Insurance Group had a return on equity of 19.61% and a net margin of 10.84%.The company had revenue of $489.53 million for the quarter, compared to analyst estimates of $706.59 million. On average, analysts forecast that Skyward Specialty Insurance Group will post 4.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Thomas N. Schmitt sold 8,397 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $51.32, for a total transaction of $430,934.04. Following the completion of the transaction, the insider directly owned 10,353 shares in the company, valued at $531,315.96. This trade represents a 44.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anthony J. Kuczinski bought 2,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were acquired at an average cost of $47.10 per share, with a total value of $94,200.00. Following the completion of the transaction, the director owned 15,977 shares of the company’s stock, valued at $752,516.70. This represents a 14.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 8.52% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Hedge funds have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. purchased a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter worth approximately $27,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Skyward Specialty Insurance Group during the first quarter valued at approximately $37,000. Quarry LP boosted its position in shares of Skyward Specialty Insurance Group by 558.9% during the third quarter. Quarry LP now owns 995 shares of the company’s stock valued at $47,000 after buying an additional 844 shares during the last quarter. Fifth Third Bancorp bought a new stake in Skyward Specialty Insurance Group during the first quarter worth $60,000. Finally, Kestra Advisory Services LLC bought a new stake in Skyward Specialty Insurance Group during the fourth quarter worth $65,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

About Skyward Specialty Insurance Group

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.