Thomas N. Schmitt Sells 546 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) insider Thomas N. Schmitt sold 546 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $46.85, for a total transaction of $25,580.10. Following the transaction, the insider now directly owns 10,246 shares in the company, valued at approximately $480,025.10. The trade was a 5.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Skyward Specialty Insurance Group Stock Down 3.0 %

Shares of SKWD stock traded down $1.38 during trading hours on Monday, reaching $45.09. 565,125 shares of the company’s stock were exchanged, compared to its average volume of 409,575. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $29.40 and a fifty-two week high of $55.62. The stock has a market capitalization of $1.81 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.95 and a beta of 0.89. The business has a fifty day moving average price of $50.23 and a 200-day moving average price of $43.49.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $292.43 million. During the same period in the prior year, the firm earned $0.65 EPS. As a group, research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in Skyward Specialty Insurance Group by 49.8% in the 3rd quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock valued at $4,240,000 after acquiring an additional 34,612 shares in the last quarter. Barclays PLC increased its position in shares of Skyward Specialty Insurance Group by 277.7% during the third quarter. Barclays PLC now owns 64,032 shares of the company’s stock valued at $2,608,000 after purchasing an additional 47,081 shares during the period. Marshall Wace LLP acquired a new position in shares of Skyward Specialty Insurance Group in the second quarter valued at $10,152,000. State Street Corp lifted its position in Skyward Specialty Insurance Group by 10.8% in the third 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 period. Finally, Navellier & Associates Inc. acquired a new stake in Skyward Specialty Insurance Group during the third quarter worth $1,051,000. Institutional investors own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SKWD. Jefferies Financial Group raised 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 report on Wednesday, October 9th. Barclays boosted their price target 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. Raymond James upped their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 5th. Finally, JMP Securities raised their price objective on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.78.

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.