Barclays Issues Positive Forecast for Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price target lifted by Barclays from $45.00 to $53.00 in a research report report published on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other research analysts have also issued research reports about the company. Jefferies Financial Group raised their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JMP Securities raised their price objective on 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. Finally, Raymond James lifted their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $47.78.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock opened at $45.09 on Monday. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.95 and a beta of 0.89. Skyward Specialty Insurance Group has a 52-week low of $29.40 and a 52-week high of $55.62. The stock’s 50 day moving average price is $50.23 and its two-hundred day moving average price is $43.49.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $300.89 million for the quarter, compared to analysts’ expectations of $292.43 million. During the same period last year, the business earned $0.65 EPS. On average, equities research analysts forecast that Skyward Specialty Insurance Group will post 3.06 EPS for the current year.

Insider Activity

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 6,010 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were 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. The trade was a 7.23 % 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. Also, Director James Charles Hays sold 25,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the transaction, the director now directly owns 747,261 shares of the company’s stock, valued at $40,352,094. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,056 shares of company stock valued at $2,086,938 in the last ninety days. 8.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of hedge funds have recently modified their holdings of SKWD. Marshall Wace LLP bought a new position in Skyward Specialty Insurance Group during the second quarter valued at $10,152,000. Dimensional Fund Advisors LP purchased a new position in shares of Skyward Specialty Insurance Group during the 2nd quarter valued at $8,151,000. Mutual of America Capital Management LLC bought a new position in shares of Skyward Specialty Insurance Group during the 2nd quarter worth $6,568,000. Franklin Resources Inc. increased its holdings in Skyward Specialty Insurance Group by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock worth $45,506,000 after acquiring an additional 158,679 shares during the last quarter. Finally, Phase 2 Partners LLC bought a new stake in Skyward Specialty Insurance Group in the 3rd quarter valued at about $5,680,000. Institutional investors 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.