Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Raised to $80.00

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) had its target price increased by analysts at Citizens Jmp from $75.00 to $80.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. Citizens Jmp's target price indicates a potential upside of 77.07% from the company's previous close.

A number of other equities analysts also recently issued reports on the stock. Citigroup reissued an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Thursday. BMO Capital Markets boosted their price objective on shares of Skyward Specialty Insurance Group from $52.00 to $55.00 and gave the company a "market perform" rating in a research report on Monday, September 8th. Piper Sandler reaffirmed an "overweight" rating and issued a $64.00 target price on shares of Skyward Specialty Insurance Group in a report on Thursday. Weiss Ratings reissued a "buy (b-)" rating on shares of Skyward Specialty Insurance Group in a report on Friday, October 31st. Finally, Janney Montgomery Scott initiated coverage on Skyward Specialty Insurance Group in a research report on Monday, October 6th. They set a "buy" rating and a $60.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of "Moderate Buy" and an average target price of $64.70.

Get Our Latest Report on SKWD

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock opened at $45.18 on Thursday. Skyward Specialty Insurance Group has a one year low of $41.28 and a one year high of $65.05. The stock has a fifty day moving average of $47.31 and a 200 day moving average of $51.41. The stock has a market cap of $1.83 billion, a PE ratio of 13.33 and a beta of 0.55.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.20. The business had revenue of $382.53 million for the quarter, compared to analysts' expectations of $334.54 million. Skyward Specialty Insurance Group had a return on equity of 17.30% and a net margin of 10.57%.During the same period last year, the firm posted $0.71 earnings per share. As a group, sell-side analysts predict that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds have recently added to or reduced their stakes in SKWD. Caitong International Asset Management Co. Ltd lifted its position in shares of Skyward Specialty Insurance Group by 2,223.1% during the second quarter. Caitong International Asset Management Co. Ltd now owns 604 shares of the company's stock worth $35,000 after purchasing an additional 578 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Skyward Specialty Insurance Group by 1,210.5% in the 3rd quarter. Assetmark Inc. now owns 747 shares of the company's stock worth $36,000 after buying an additional 690 shares during the period. Quarry LP grew its position in shares of Skyward Specialty Insurance Group by 558.9% during the 3rd quarter. Quarry LP now owns 995 shares of the company's stock worth $47,000 after buying an additional 844 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Skyward Specialty Insurance Group by 840.1% in the third quarter. PNC Financial Services Group Inc. now owns 1,664 shares of the company's stock valued at $79,000 after acquiring an additional 1,487 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in Skyward Specialty Insurance Group by 140.9% in the second quarter. Osaic Holdings Inc. now owns 1,462 shares of the company's stock worth $84,000 after buying an additional 855 shares in the last quarter. 94.83% of the stock is currently owned by 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.

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