Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Given Average Rating of “Moderate Buy” by Brokerages

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has received a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $70.00.

Several analysts have recently weighed in on SKWD shares. Keefe, Bruyette & Woods boosted their target price on Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, August 10th. TD Cowen raised their price target on 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. Texas Capital raised Skyward Specialty Insurance Group to a “strong-buy” rating in a research report on Tuesday, June 9th. Weiss Ratings upgraded Skyward Specialty Insurance Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 25th. Finally, Wall Street Zen raised Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, August 8th.

Skyward Specialty Insurance Group Price Performance

NASDAQ SKWD opened at $56.31 on Monday. The firm’s fifty day moving average price is $58.90 and its 200 day moving average price is $51.75. Skyward Specialty Insurance Group has a 12 month low of $40.60 and a 12 month high of $65.69. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 13.13 and a beta of 0.33.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 18.72%. The firm had revenue of $489.53 million during the quarter, compared to analysts’ expectations of $706.59 million. As a group, sell-side analysts forecast that Skyward Specialty Insurance Group will post 4.98 earnings per share for the current year.

Institutional Trading of Skyward Specialty Insurance Group

A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in shares of Skyward Specialty Insurance Group by 1.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 17,714 shares of the company’s stock worth $774,000 after buying an additional 228 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Skyward Specialty Insurance Group by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 6,536 shares of the company’s stock valued at $334,000 after acquiring an additional 423 shares during the last quarter. Nykredit A S acquired a new position in Skyward Specialty Insurance Group in the second quarter valued at $37,000. Baird Financial Group Inc. grew its position in Skyward Specialty Insurance Group by 8.0% during the second quarter. Baird Financial Group Inc. now owns 10,016 shares of the company’s stock valued at $584,000 after acquiring an additional 746 shares during the period. Finally, KBC Group NV grew its position in Skyward Specialty Insurance Group by 73.2% during the first quarter. KBC Group NV now owns 1,780 shares of the company’s stock valued at $78,000 after acquiring an additional 752 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 insurance company headquartered in Houston, Texas. Through its insurance subsidiaries, the company provides customized coverage for businesses and specialty risks that may not be fully addressed by standard commercial insurance products.

Its offerings include commercial property and casualty insurance, professional liability, general liability, workers’ compensation, commercial automobile coverage, surety, accident and health insurance, and other specialty solutions.