Wolfe Research Reaffirms “Peer Perform” Rating for Skyward Specialty Insurance Group (NASDAQ:SKWD)

Skyward Specialty Insurance Group (NASDAQ:SKWD)‘s stock had its “peer perform” rating reiterated by investment analysts at Wolfe Research in a research report issued on Friday.

Several other equities analysts have also commented on SKWD. Keefe, Bruyette & Woods upped their target price on Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Barclays boosted their target price on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Piper Sandler lowered their price objective on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Finally, Truist Financial boosted their target price on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday. Four research 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 company’s stock. According to MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $54.75.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ:SKWD opened at $52.21 on Friday. The firm has a market capitalization of $2.09 billion, a P/E ratio of 15.92, a P/E/G ratio of 0.81 and a beta of 0.83. The company’s fifty day moving average price is $47.42 and its 200 day moving average price is $45.87. Skyward Specialty Insurance Group has a 12 month low of $33.27 and a 12 month high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. On average, sell-side analysts anticipate that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 637 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $47.81, for a total value of $30,454.97. Following the sale, the insider now owns 10,792 shares in the company, valued at approximately $515,965.52. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew S. Robinson sold 6,010 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total value of $296,713.70. Following the transaction, the chief executive officer now directly owns 77,144 shares in the company, valued at $3,808,599.28. This trade represents a 7.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,318 shares of company stock worth $2,098,866 over the last three months. Company insiders own 8.01% of the company’s stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Hedge funds have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI bought a new position in Skyward Specialty Insurance Group in the 3rd quarter valued at about $41,000. Sterling Capital Management LLC lifted its position in shares of Skyward Specialty Insurance Group by 756.1% in the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock worth $46,000 after purchasing an additional 809 shares during the period. Quarry LP boosted its position in Skyward Specialty Insurance Group by 176.9% during the third quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after acquiring an additional 879 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $61,000. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Skyward Specialty Insurance Group by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after purchasing an additional 247 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.