Skyward Specialty Insurance Group (NASDAQ:SKWD) Receives “Buy (B-)” Rating from Weiss Ratings

Weiss Ratings reissued their buy (b-) rating on shares of Skyward Specialty Insurance Group (NASDAQ:SKWD) in a research note issued to investors on Friday morning,Weiss Ratings reports.

A number of other brokerages have also recently commented on SKWD. JMP Securities set a $75.00 target price on shares of Skyward Specialty Insurance Group in a report on Thursday. Citizens Jmp lifted their target price on shares of Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a “market outperform” rating in a report on Thursday. Citigroup reaffirmed an “outperform” rating on shares of Skyward Specialty Insurance Group in a report on Thursday. Wolfe Research upgraded shares of Skyward Specialty Insurance Group to an “outperform” rating in a research report on Monday, September 15th. Finally, Janney Montgomery Scott assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, October 6th. They issued a “buy” rating and a $60.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.73.

Skyward Specialty Insurance Group Price Performance

Shares of Skyward Specialty Insurance Group stock opened at $45.59 on Friday. The firm’s fifty day simple moving average is $47.55 and its 200-day simple moving average is $52.89. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 13.45 and a beta of 0.58. Skyward Specialty Insurance Group has a 12 month low of $41.28 and a 12 month high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Wednesday, October 29th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.20. The business had revenue of $606.51 million for the quarter, compared to analysts’ expectations of $334.54 million. Skyward Specialty Insurance Group had a net margin of 10.57% and a return on equity of 17.88%. During the same period in the previous year, the company posted $0.71 EPS. Analysts anticipate that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current year.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position in Skyward Specialty Insurance Group by 2,223.1% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 604 shares of the company’s stock valued at $35,000 after buying an additional 578 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Skyward Specialty Insurance Group in the 1st quarter valued at about $67,000. Osaic Holdings Inc. lifted its stake in shares of Skyward Specialty Insurance Group by 140.9% in the second quarter. Osaic Holdings Inc. now owns 1,462 shares of the company’s stock valued at $84,000 after purchasing an additional 855 shares during the period. KBC Group NV purchased a new stake in Skyward Specialty Insurance Group during the first quarter worth about $81,000. Finally, State of Alaska Department of Revenue purchased a new stake in Skyward Specialty Insurance Group during the third quarter worth about $89,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

About Skyward Specialty Insurance Group

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.