Skyward Specialty Insurance Group (NASDAQ:SKWD) Hits New 12-Month High – Still a Buy?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)’s share price reached a new 52-week high on Friday . The company traded as high as $50.53 and last traded at $50.53, with a volume of 10741 shares changing hands. The stock had previously closed at $49.73.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SKWD. Raymond James boosted their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. Jefferies Financial Group upped their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price target on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Truist Financial restated a “buy” rating and issued a $49.00 price objective (up from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Finally, Barclays raised their target price on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.89.

Skyward Specialty Insurance Group Stock Up 0.1 %

The stock’s 50-day moving average price is $43.88 and its 200 day moving average price is $39.60. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 0.90 and a beta of 0.53.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The firm had revenue of $300.89 million during the quarter, compared to analysts’ expectations of $292.43 million. During the same quarter in the prior year, the firm posted $0.65 EPS. On average, research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current year.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Institutional investors have recently bought and sold shares of the business. Capital International Investors raised its stake in shares of Skyward Specialty Insurance Group by 48.0% in the 1st quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock valued at $82,767,000 after buying an additional 717,972 shares in the last quarter. Vanguard Group Inc. raised its position in Skyward Specialty Insurance Group by 11.3% in the first quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock worth $76,458,000 after purchasing an additional 207,744 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in Skyward Specialty Insurance Group by 0.3% during the first quarter. Champlain Investment Partners LLC now owns 1,405,980 shares of the company’s stock worth $52,598,000 after purchasing an additional 4,510 shares during the period. Jennison Associates LLC boosted its holdings in Skyward Specialty Insurance Group by 1.0% during the third quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock valued at $52,786,000 after purchasing an additional 12,484 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its stake in shares of Skyward Specialty Insurance Group by 2.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company’s stock valued at $45,528,000 after purchasing an additional 34,286 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.