Truist Financial Increases Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target to $47.00

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its target price raised by Truist Financial from $44.00 to $47.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. JMP Securities boosted their price objective on Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the stock a market outperform rating in a report on Thursday. BMO Capital Markets boosted their price target on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a market perform rating in a research note on Monday, February 26th. Piper Sandler increased their price target on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an overweight rating in a report on Monday, April 1st. Wolfe Research began coverage on Skyward Specialty Insurance Group in a report on Thursday, January 11th. They set an outperform rating and a $39.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their target price on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an outperform rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Skyward Specialty Insurance Group presently has a consensus rating of Buy and a consensus target price of $40.56.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock traded up $1.81 during midday trading on Friday, reaching $37.58. 437,313 shares of the stock were exchanged, compared to its average volume of 299,778. The company’s fifty day moving average is $36.25 and its 200-day moving average is $33.31. Skyward Specialty Insurance Group has a 52 week low of $21.21 and a 52 week high of $38.64. The firm has a market cap of $1.50 billion, a PE ratio of 13.82 and a beta of 0.68.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. Skyward Specialty Insurance Group had a return on equity of 16.81% and a net margin of 11.16%. The company had revenue of $264.97 million for the quarter, compared to the consensus estimate of $251.66 million. During the same quarter last year, the business posted $0.42 earnings per share. On average, sell-side analysts anticipate that Skyward Specialty Insurance Group will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In related news, CEO Andrew S. Robinson sold 13,374 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total value of $477,451.80. Following the sale, the chief executive officer now directly owns 96,883 shares of the company’s stock, valued at $3,458,723.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Andrew S. Robinson sold 13,374 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total value of $477,451.80. Following the completion of the sale, the chief executive officer now owns 96,883 shares of the company’s stock, valued at $3,458,723.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew S. Robinson sold 12,109 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $35.56, for a total transaction of $430,596.04. Following the transaction, the chief executive officer now directly owns 74,533 shares in the company, valued at $2,650,393.48. The disclosure for this sale can be found here. Insiders sold 98,890 shares of company stock valued at $3,533,839 in the last quarter. Company insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

Several large investors have recently bought and sold shares of SKWD. Amalgamated Bank boosted its stake in Skyward Specialty Insurance Group by 90.9% during the third quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock worth $63,000 after acquiring an additional 1,095 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Skyward Specialty Insurance Group by 54.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock worth $114,000 after purchasing an additional 1,186 shares in the last quarter. Adalta Capital Management LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter worth approximately $137,000. International Assets Investment Management LLC bought a new position in Skyward Specialty Insurance Group during the 4th quarter valued at approximately $161,000. Finally, New York State Common Retirement Fund raised its stake in Skyward Specialty Insurance Group by 82.2% during the third quarter. New York State Common Retirement Fund now owns 6,895 shares of the company’s stock valued at $189,000 after buying an additional 3,110 shares during the last quarter. 94.83% of the stock is owned by institutional investors.

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.