Piper Sandler Lowers Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $57.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target lowered by analysts at Piper Sandler from $58.00 to $57.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 17.48% from the company’s previous close.

Other analysts have also recently issued reports about the company. Raymond James boosted their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 5th. Barclays boosted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. TD Cowen initiated coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They set a “hold” rating and a $43.00 price objective on the stock. Jefferies Financial Group boosted their target price on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, JMP Securities raised their price target on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

Skyward Specialty Insurance Group Stock Down 1.7 %

NASDAQ:SKWD opened at $48.52 on Thursday. The stock has a market capitalization of $1.95 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.73 and a beta of 0.84. Skyward Specialty Insurance Group has a 52 week low of $29.76 and a 52 week high of $55.62. The stock’s 50-day moving average price is $48.07 and its 200-day moving average price is $44.72.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Director James Charles Hays sold 25,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total value of $1,350,000.00. Following the completion of the sale, the director now directly owns 747,261 shares in the company, valued at $40,352,094. This represents a 3.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sandip A. Kapadia sold 4,347 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $49.51, for a total value of $215,219.97. Following the completion of the sale, the executive vice president now directly owns 12,508 shares of the company’s stock, valued at $619,271.08. This trade represents a 25.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,318 shares of company stock worth $2,098,866. Insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of Skyward Specialty Insurance Group by 49.8% during the 3rd quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock valued at $4,240,000 after buying an additional 34,612 shares during the period. Barclays PLC increased its stake in Skyward Specialty Insurance Group by 277.7% during the third quarter. Barclays PLC now owns 64,032 shares of the company’s stock worth $2,608,000 after acquiring an additional 47,081 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Skyward Specialty Insurance Group by 32.9% during the third quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company’s stock worth $3,515,000 after acquiring an additional 21,346 shares during the last quarter. State Street Corp raised its position in Skyward Specialty Insurance Group by 10.8% in the third quarter. State Street Corp now owns 844,233 shares of the company’s stock valued at $34,386,000 after purchasing an additional 82,328 shares during the period. Finally, Navellier & Associates Inc. acquired a new position in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at $1,051,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Company Profile

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.