Skyward Specialty Insurance Group (NASDAQ:SKWD) Receives Market Outperform Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) in a report published on Tuesday morning, Benzinga reports. They currently have a $50.00 price objective on the stock.

A number of other research analysts have also recently weighed in on SKWD. Barclays started coverage on shares of Skyward Specialty Insurance Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $44.00 price objective for the company. Piper Sandler boosted their price target on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Jefferies Financial Group boosted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Truist Financial reiterated a “buy” rating and set a $49.00 price target (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.78.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD stock opened at $46.11 on Tuesday. The stock has a market capitalization of $1.85 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60. The company has a 50 day moving average price of $40.81 and a 200 day moving average price of $38.11. Skyward Specialty Insurance Group has a fifty-two week low of $27.12 and a fifty-two week high of $46.32.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.15. The firm had revenue of $279.94 million during the quarter, compared to analysts’ expectations of $282.70 million. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. During the same quarter in the previous year, the business posted $0.42 earnings per share. On average, research analysts forecast that Skyward Specialty Insurance Group will post 2.98 EPS for the current fiscal year.

Insider Activity

In other news, Director Katharine Terry sold 1,653 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $36.87, for a total value of $60,946.11. Following the completion of the transaction, the director now owns 4,001 shares in the company, valued at approximately $147,516.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Capital International Investors raised its position in Skyward Specialty Insurance Group by 48.0% in the 1st quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock valued at $82,767,000 after purchasing an additional 717,972 shares during the last quarter. Marshall Wace LLP purchased a new stake in Skyward Specialty Insurance Group in the 2nd quarter valued at $10,152,000. Dimensional Fund Advisors LP purchased a new stake in Skyward Specialty Insurance Group in the 2nd quarter valued at $8,151,000. Vanguard Group Inc. raised its position in Skyward Specialty Insurance Group by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock valued at $76,458,000 after purchasing an additional 207,744 shares during the last quarter. Finally, Mutual of America Capital Management LLC purchased a new stake in Skyward Specialty Insurance Group in the 2nd quarter valued at $6,568,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc, an insurance holding company, underwrites commercial property and casualty insurance products in the United States. It offers general liability, excess liability, professional liability, commercial auto, group accident and health, property, surety, and workers' compensation insurance products.