Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock Has Average Price Target of $71.11 According to Brokerages

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $71.11.

Several brokerages have weighed in on SKWD. 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 report on Thursday, August 6th. Piper Sandler reaffirmed an “overweight” rating on shares of Skyward Specialty Insurance Group in a research report on Monday, August 24th. Wall Street Zen raised shares of Skyward Specialty Insurance Group from a “hold” rating to a “buy” rating in a research report on Sunday, October 18th. TD Cowen lifted 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. Finally, Citigroup reissued a “market outperform” rating on shares of Skyward Specialty Insurance Group in a report on Monday, October 12th.

Skyward Specialty Insurance Group Stock Up 2.6%

Shares of SKWD opened at $63.86 on Tuesday. The business’s 50 day moving average is $57.94 and its two-hundred day moving average is $51.92. Skyward Specialty Insurance Group has a 52-week low of $40.60 and a 52-week high of $65.69. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 14.89 and a beta of 0.32.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Thursday, November 5th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. The company had revenue of $455.34 million during the quarter, compared to analysts’ expectations of $753.93 million. Skyward Specialty Insurance Group had a return on equity of 18.72% and a net margin of 10.84%. On average, equities analysts expect that Skyward Specialty Insurance Group will post 5.00 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC acquired a new position in Skyward Specialty Insurance Group during the 1st quarter valued at approximately $37,000. Nykredit A S bought a new position in Skyward Specialty Insurance Group during the 2nd quarter worth $37,000. Financial Management Professionals Inc. increased its position in Skyward Specialty Insurance Group by 46.7% in the third quarter. Financial Management Professionals Inc. now owns 785 shares of the company’s stock worth $41,000 after buying an additional 250 shares during the period. Fifth Third Bancorp acquired a new stake in Skyward Specialty Insurance Group in the first quarter worth $60,000. Finally, KBC Group NV increased its position in Skyward Specialty Insurance Group by 73.2% in the first quarter. KBC Group NV now owns 1,780 shares of the company’s stock worth $78,000 after buying an additional 752 shares during the period. 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 organizations that may be underserved by the standard insurance market.

Its offerings include excess and surplus lines insurance, professional liability, healthcare liability, workers’ compensation, surety, commercial property and casualty coverage, specialty programs, and accident and health products.