Skyward Specialty Insurance Group (NASDAQ:SKWD) Rating Increased to Overweight at Barclays

Skyward Specialty Insurance Group (NASDAQ:SKWD) was upgraded by equities researchers at Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Friday, Marketbeat.com reports. The firm currently has a $63.00 price target on the stock, up from their prior price target of $53.00. Barclays‘s price objective would indicate a potential upside of 33.05% from the stock’s current price.

SKWD has been the topic of a number of other research reports. Truist Financial upped their price objective on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Keefe, Bruyette & Woods increased their price target on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a “hold” rating and a $43.00 target price on the stock. JMP Securities reissued a “market outperform” rating and issued a $60.00 price objective on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Finally, Piper Sandler decreased their price objective on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.25.

Skyward Specialty Insurance Group Trading Down 2.3 %

Shares of NASDAQ SKWD opened at $47.35 on Friday. The stock has a market capitalization of $1.90 billion, a PE ratio of 14.44, a PEG ratio of 0.81 and a beta of 0.66. Skyward Specialty Insurance Group has a twelve month low of $33.27 and a twelve month high of $55.62. The stock has a fifty day simple moving average of $47.31 and a 200-day simple moving average of $46.72.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $304.40 million during the quarter, compared to the consensus estimate of $295.56 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. On average, equities analysts predict that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Andrew S. Robinson sold 6,010 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total transaction of $296,713.70. Following the transaction, the chief executive officer now directly owns 77,144 shares in the company, valued at approximately $3,808,599.28. This trade represents a 7.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gena L. Ashe sold 1,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $50.62, for a total transaction of $50,620.00. Following the completion of the sale, the director now owns 734 shares of the company’s stock, valued at approximately $37,155.08. This trade represents a 57.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,450 shares of company stock valued at $1,369,342. 8.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several hedge funds have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Skyward Specialty Insurance Group in the 4th quarter valued at about $6,048,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Skyward Specialty Insurance Group by 35.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,587 shares of the company’s stock valued at $4,326,000 after purchasing an additional 22,313 shares during the period. ProShare Advisors LLC raised its stake in shares of Skyward Specialty Insurance Group by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 10,461 shares of the company’s stock worth $529,000 after purchasing an additional 3,442 shares during the last quarter. Quantedge Capital Pte Ltd acquired a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter worth $445,000. Finally, Man Group plc purchased a new position in Skyward Specialty Insurance Group in the 4th quarter valued at $507,000. 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.