Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Insider Sells 6,300 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) insider Thomas N. Schmitt sold 6,300 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $51.92, for a total value of $327,096.00. Following the sale, the insider now directly owns 3,946 shares of the company’s stock, valued at approximately $204,876.32. The trade was a 61.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Skyward Specialty Insurance Group Price Performance

NASDAQ:SKWD traded down $1.35 during mid-day trading on Tuesday, reaching $52.79. The stock had a trading volume of 671,908 shares, compared to its average volume of 345,864. Skyward Specialty Insurance Group, Inc. has a 12 month low of $33.27 and a 12 month high of $55.62. The stock has a market capitalization of $2.12 billion, a PE ratio of 16.09, a P/E/G ratio of 0.81 and a beta of 0.83. The stock has a 50-day simple moving average of $47.52 and a two-hundred day simple moving average of $46.25.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The firm had revenue of $304.40 million for the quarter, compared to the consensus estimate of $295.56 million. Equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SKWD. Piper Sandler dropped their target price on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They set a “hold” rating and a $43.00 target price on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday. Finally, Raymond James boosted their price target 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. Four investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Skyward Specialty Insurance Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock worth $114,990,000 after acquiring an additional 16,572 shares during the last quarter. American Century Companies Inc. increased its position in Skyward Specialty Insurance Group by 54.0% during the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock worth $79,744,000 after purchasing an additional 553,389 shares in the last quarter. Jennison Associates LLC lifted its stake 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 valued at $52,786,000 after purchasing an additional 12,484 shares during the last quarter. Invesco Ltd. lifted its stake in Skyward Specialty Insurance Group by 9.1% in the 4th quarter. Invesco Ltd. now owns 1,217,329 shares of the company’s stock valued at $61,524,000 after purchasing an additional 102,042 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Skyward Specialty Insurance Group by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company’s stock valued at $58,860,000 after buying an additional 47,363 shares in the last quarter. Institutional investors 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.