Andrew S. Robinson Sells 6,010 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CEO Andrew S. Robinson sold 6,010 shares of Skyward Specialty Insurance Group stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total transaction of $296,713.70. Following the transaction, the chief executive officer now directly owns 77,144 shares of the company’s stock, valued at approximately $3,808,599.28. This trade represents a 7.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Skyward Specialty Insurance Group Stock Performance

NASDAQ SKWD opened at $45.52 on Wednesday. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.95 and a beta of 0.89. The stock has a 50-day moving average of $50.25 and a 200 day moving average of $43.56. Skyward Specialty Insurance Group, Inc. has a one year low of $29.40 and a one year high of $55.62.

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

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of SKWD. Jennison Associates LLC lifted its holdings in Skyward Specialty Insurance Group by 1.0% in the third quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock valued at $52,786,000 after acquiring an additional 12,484 shares during the period. Driehaus Capital Management LLC lifted 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 worth $45,528,000 after purchasing an additional 34,286 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock worth $45,506,000 after buying an additional 158,679 shares during the last quarter. American Century Companies Inc. grew its position in Skyward Specialty Insurance Group by 9.2% during the second quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock valued at $33,269,000 after buying an additional 77,354 shares during the period. Finally, Emerald Advisers LLC grew its position in Skyward Specialty Insurance Group by 3.4% during the third quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock valued at $35,622,000 after buying an additional 28,618 shares during the period. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays lifted their target price on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday. Raymond James lifted their price objective on 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. JMP Securities increased their target price 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. Finally, Jefferies Financial Group lifted their price target 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. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and an average target price of $47.78.

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.