Skyward Specialty Insurance Group (NASDAQ:SKWD) Price Target Lowered to $57.00 at Piper Sandler

Skyward Specialty Insurance Group (NASDAQ:SKWD) had its price objective lowered by Piper Sandler from $58.00 to $57.00 in a research report report published on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

SKWD has been the subject of several other reports. Jefferies Financial Group increased their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Raymond James raised their target price on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 5th. Barclays raised their price objective on 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. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 price target for the company. Finally, JMP Securities boosted their price target on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.67.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ SKWD opened at $49.34 on Thursday. Skyward Specialty Insurance Group has a 1-year low of $29.76 and a 1-year high of $55.62. The business has a fifty day moving average price of $48.18 and a 200 day moving average price of $44.65. The stock has a market capitalization of $1.98 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 0.73 and a beta of 0.84.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, EVP Sandip A. Kapadia sold 908 shares of Skyward Specialty Insurance Group stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $46.98, for a total transaction of $42,657.84. Following the completion of the transaction, the executive vice president now owns 10,371 shares in the company, valued at approximately $487,229.58. This trade represents a 8.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas N. Schmitt sold 546 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $46.85, for a total value of $25,580.10. Following the completion of the sale, the insider now owns 10,246 shares in the company, valued at $480,025.10. The trade was a 5.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,318 shares of company stock valued at $2,098,866. 8.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Skyward Specialty Insurance Group during the fourth quarter worth $3,191,000. Charles Schwab Investment Management Inc. raised its position in shares of Skyward Specialty Insurance Group by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 283,629 shares of the company’s stock worth $14,335,000 after acquiring an additional 3,687 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Skyward Specialty Insurance Group by 11.3% during the 4th quarter. Bank of New York Mellon Corp now owns 122,402 shares of the company’s stock worth $6,186,000 after acquiring an additional 12,391 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter valued at about $880,000. Finally, Pinnacle Financial Partners Inc purchased a new position in shares of Skyward Specialty Insurance Group in the 4th quarter valued at about $220,000. 94.83% of the stock is owned by hedge funds and other 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.