Skyward Specialty Insurance Group (NASDAQ:SKWD) Upgraded at Zacks Research

Skyward Specialty Insurance Group (NASDAQ:SKWD) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, October 31st. Janney Montgomery Scott started coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, October 6th. They set a “buy” rating and a $60.00 target price for the company. Citizens Jmp boosted 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 research report on Thursday, October 30th. Piper Sandler reduced their price target on Skyward Specialty Insurance Group from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Finally, Wolfe Research upgraded Skyward Specialty Insurance Group to an “outperform” rating in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.50.

Skyward Specialty Insurance Group Stock Up 1.9%

NASDAQ:SKWD opened at $45.87 on Monday. The business’s 50-day moving average price is $47.42 and its two-hundred day moving average price is $52.74. Skyward Specialty Insurance Group has a twelve month low of $41.28 and a twelve month high of $65.05. The stock has a market cap of $1.86 billion, a P/E ratio of 13.53 and a beta of 0.57.

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

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several institutional investors have recently modified their holdings of the stock. Reinhart Partners LLC. increased its position in Skyward Specialty Insurance Group by 68.2% during the third quarter. Reinhart Partners LLC. now owns 1,613,536 shares of the company’s stock valued at $76,740,000 after acquiring an additional 654,500 shares during the last quarter. Invesco Ltd. increased its position in Skyward Specialty Insurance Group by 46.3% during the second quarter. Invesco Ltd. now owns 1,790,131 shares of the company’s stock valued at $103,452,000 after acquiring an additional 566,902 shares during the last quarter. Voya Investment Management LLC increased its position in Skyward Specialty Insurance Group by 3,712.0% during the first quarter. Voya Investment Management LLC now owns 433,652 shares of the company’s stock valued at $22,949,000 after acquiring an additional 422,276 shares during the last quarter. Aberdeen Group plc bought a new position in Skyward Specialty Insurance Group during the second quarter valued at $19,319,000. Finally, Ameriprise Financial Inc. boosted its holdings in Skyward Specialty Insurance Group by 46.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 946,216 shares of the company’s stock valued at $54,682,000 after acquiring an additional 301,288 shares during the period. 94.83% of the stock is owned by 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.