Skyward Specialty Insurance Group (NASDAQ:SKWD) Shares Gap Down to $37.58

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) gapped down before the market opened on Monday . The stock had previously closed at $37.58, but opened at $36.30. Skyward Specialty Insurance Group shares last traded at $37.89, with a volume of 89,700 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Wolfe Research assumed coverage on Skyward Specialty Insurance Group in a research note on Thursday, January 11th. They set an “outperform” rating and a $39.00 target price for the company. JMP Securities lifted their price target on shares of Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the company a “market outperform” rating in a report on Thursday. Truist Financial boosted their target price on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday. Finally, BMO Capital Markets raised their price objective on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a report on Monday, February 26th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $40.56.

Skyward Specialty Insurance Group Trading Up 0.1 %

The firm has a market cap of $1.50 billion, a PE ratio of 13.89 and a beta of 0.68. The stock has a fifty day simple moving average of $36.25 and a two-hundred day simple moving average of $33.37.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. The company had revenue of $264.97 million for the quarter, compared to the consensus estimate of $251.66 million. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 16.81%. During the same period in the previous year, the firm earned $0.42 earnings per share. As a group, sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.7 earnings per share for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 13,407 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $35.63, for a total transaction of $477,691.41. Following the sale, the chief executive officer now directly owns 61,126 shares of the company’s stock, valued at $2,177,919.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Mark W. Haushill sold 25,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $35.58, for a total transaction of $889,500.00. Following the completion of the sale, the chief financial officer now directly owns 236,688 shares in the company, valued at approximately $8,421,359.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew S. Robinson sold 13,407 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $35.63, for a total value of $477,691.41. Following the completion of the sale, the chief executive officer now directly owns 61,126 shares of the company’s stock, valued at approximately $2,177,919.38. The disclosure for this sale can be found here. Insiders have sold a total of 98,890 shares of company stock worth $3,533,839 in the last ninety days. Insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKWD. Amalgamated Bank grew its position in Skyward Specialty Insurance Group by 90.9% in 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Skyward Specialty Insurance Group by 54.5% during 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 during the last quarter. Adalta Capital Management LLC acquired a new position in Skyward Specialty Insurance Group in the 3rd quarter valued at about $137,000. International Assets Investment Management LLC acquired a new position in Skyward Specialty Insurance Group in the 4th quarter valued at $161,000. Finally, New York State Common Retirement Fund boosted its position in shares of Skyward Specialty Insurance Group by 82.2% during the 3rd quarter. New York State Common Retirement Fund now owns 6,895 shares of the company’s stock worth $189,000 after purchasing an additional 3,110 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.