Truist Financial Boosts Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $75.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target raised by Truist Financial from $70.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 17.79% from the company’s current price.

SKWD has been the topic of a number of other reports. Texas Capital raised Skyward Specialty Insurance Group to a “strong-buy” rating in a research report on Tuesday, June 9th. Capital One Financial set a $59.00 price objective on Skyward Specialty Insurance Group in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods lifted their target price on Skyward Specialty Insurance Group from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Weiss Ratings raised shares of Skyward Specialty Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. Finally, Wall Street Zen downgraded Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.70.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD opened at $63.67 on Thursday. 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 $2.58 billion, a PE ratio of 14.84 and a beta of 0.34. The stock’s 50-day moving average is $56.04 and its two-hundred day moving average is $49.10.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 19.61%. The company had revenue of $489.53 million during the quarter, compared to analysts’ expectations of $706.59 million. On average, research analysts anticipate that Skyward Specialty Insurance Group will post 4.91 earnings per share for the current year.

Insider Activity

In related news, Director Gena L. Ashe sold 740 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $46.35, for a total transaction of $34,299.00. Following the transaction, the director owned 4,570 shares in the company, valued at $211,819.50. This trade represents a 13.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anthony J. Kuczinski acquired 2,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was purchased at an average cost of $47.10 per share, for a total transaction of $94,200.00. Following the purchase, the director directly owned 15,977 shares in the company, valued at approximately $752,516.70. This represents a 14.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 8.52% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several large investors have recently made changes to their positions in the business. Royce & Associates LP raised its position in Skyward Specialty Insurance Group by 24.9% during the fourth quarter. Royce & Associates LP now owns 202,659 shares of the company’s stock valued at $10,358,000 after acquiring an additional 40,339 shares in the last quarter. Teacher Retirement System of Texas grew its position in Skyward Specialty Insurance Group by 26.4% in the fourth quarter. Teacher Retirement System of Texas now owns 147,406 shares of the company’s stock worth $7,534,000 after acquiring an additional 30,763 shares in the last quarter. UBS Group AG increased its stake in shares of Skyward Specialty Insurance Group by 44.5% during the 4th quarter. UBS Group AG now owns 234,366 shares of the company’s stock worth $11,978,000 after purchasing an additional 72,196 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Skyward Specialty Insurance Group by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 2,555,033 shares of the company’s stock worth $130,588,000 after purchasing an additional 102,191 shares in the last quarter. Finally, Sei Investments Co. increased its position in Skyward Specialty Insurance Group by 397.5% during the first quarter. Sei Investments Co. now owns 433,298 shares of the company’s stock worth $18,926,000 after buying an additional 346,202 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc (NASDAQ: SKWD) is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.