Skyward Specialty Insurance Group (NASDAQ:SKWD) Sees Large Volume Increase – Here’s Why

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) saw unusually-strong trading volume on Monday . Approximately 1,013,460 shares changed hands during trading, an increase of 167% from the previous session’s volume of 379,114 shares.The stock last traded at $45.59 and had previously closed at $44.28.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. JMP Securities increased their price objective on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of 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. 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. TD Cowen assumed coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They set a “hold” rating and a $43.00 target price for the company. Finally, Barclays increased their price target on shares of 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. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.22.

Skyward Specialty Insurance Group Trading Up 4.4 %

The business has a 50 day moving average of $48.64 and a 200-day moving average of $44.50. The stock has a market cap of $1.85 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 0.73 and a beta of 0.84.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Director James Charles Hays sold 25,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the director now directly owns 747,261 shares in the company, valued at $40,352,094. This represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew S. Robinson sold 6,010 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total transaction of $296,713.70. Following the completion of the sale, the chief executive officer now directly owns 77,144 shares of the company’s stock, valued at $3,808,599.28. The trade was a 7.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,318 shares of company stock valued at $2,098,866. Company insiders own 8.01% of the company’s stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Large investors have recently modified their holdings of the stock. Jennison Associates LLC lifted its holdings in Skyward Specialty Insurance Group by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock worth $52,786,000 after buying an additional 12,484 shares in the last quarter. Franklin Resources Inc. lifted its stake 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 acquiring an additional 158,679 shares in the last quarter. Emerald Advisers LLC grew its stake in Skyward Specialty Insurance Group by 3.4% during the 3rd quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock valued at $35,622,000 after purchasing an additional 28,618 shares in the last quarter. State Street Corp increased its holdings in Skyward Specialty Insurance Group by 10.8% during the 3rd quarter. State Street Corp now owns 844,233 shares of the company’s stock worth $34,386,000 after purchasing an additional 82,328 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Skyward Specialty Insurance Group by 12.9% in the 3rd quarter. Victory Capital Management Inc. now owns 743,073 shares of the company’s stock valued at $30,265,000 after purchasing an additional 84,623 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.