Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) EVP Sells $215,219.97 in Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) EVP Sandip A. Kapadia sold 4,347 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.51, for a total value of $215,219.97. Following the completion of the transaction, the executive vice president now directly owns 12,508 shares in the company, valued at approximately $619,271.08. This represents a 25.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Skyward Specialty Insurance Group Trading Up 0.2 %

SKWD stock opened at $45.61 on Thursday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 0.95 and a beta of 0.89. The firm’s 50-day moving average price is $50.27 and its two-hundred day moving average price is $43.58. Skyward Specialty Insurance Group, Inc. has a 12-month low of $29.40 and a 12-month high of $55.62.

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

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in Skyward Specialty Insurance Group by 18.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 139,996 shares of the company’s stock worth $5,065,000 after purchasing an additional 22,126 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Skyward Specialty Insurance Group by 67.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock worth $204,000 after buying an additional 2,270 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Skyward Specialty Insurance Group by 55.5% in the second quarter. Principal Financial Group Inc. now owns 69,493 shares of the company’s stock worth $2,514,000 after buying an additional 24,804 shares during the period. Rhumbline Advisers boosted its position in Skyward Specialty Insurance Group by 38.0% during the 2nd quarter. Rhumbline Advisers now owns 54,958 shares of the company’s stock valued at $1,988,000 after acquiring an additional 15,126 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 13.2% during the 2nd quarter. Victory Capital Management Inc. now owns 658,450 shares of the company’s stock worth $23,823,000 after acquiring an additional 76,524 shares during the period. Institutional investors own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barclays increased their price objective on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research report on Monday. Jefferies Financial Group lifted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Raymond James upped their price objective on shares of 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. Finally, JMP Securities increased their target price on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and an average price target 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.