Analysts Set Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) PT at $70.00

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

A number of research firms recently commented on SKWD. Weiss Ratings upgraded shares of Skyward Specialty Insurance Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 25th. Truist Financial upped their price objective on Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Barclays increased their price objective on Skyward Specialty Insurance Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Texas Capital upgraded shares of Skyward Specialty Insurance Group to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, Piper Sandler reissued an “overweight” rating on shares of Skyward Specialty Insurance Group in a research report on Monday, August 24th.

Skyward Specialty Insurance Group Trading Down 0.5%

Shares of Skyward Specialty Insurance Group stock opened at $56.31 on Monday. The company has a fifty day simple moving average of $58.90 and a 200-day simple moving average of $51.72. Skyward Specialty Insurance Group has a 12-month low of $40.60 and a 12-month high of $65.69. The stock has a market cap 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 issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. The company had revenue of $489.53 million for the quarter, compared to the consensus estimate of $706.59 million. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 18.72%. On average, analysts forecast that Skyward Specialty Insurance Group will post 4.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Skyward Specialty Insurance Group by 1.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 17,714 shares of the company’s stock worth $774,000 after purchasing an additional 228 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Skyward Specialty Insurance Group by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 6,536 shares of the company’s stock worth $334,000 after acquiring an additional 423 shares during the period. Nykredit A S bought a new position in Skyward Specialty Insurance Group during the 2nd quarter valued at $37,000. Baird Financial Group Inc. increased its position in shares of Skyward Specialty Insurance Group by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 10,016 shares of the company’s stock valued at $584,000 after purchasing an additional 746 shares during the period. Finally, KBC Group NV raised its stake in shares of Skyward Specialty Insurance Group by 73.2% in the 1st quarter. KBC Group NV now owns 1,780 shares of the company’s stock worth $78,000 after buying an additional 752 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

About Skyward Specialty Insurance Group

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.