Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Insider Sells $30,454.97 in Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) insider Thomas N. Schmitt sold 637 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $47.81, for a total value of $30,454.97. Following the completion of the transaction, the insider now directly owns 10,792 shares in the company, valued at $515,965.52. This represents a 5.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD opened at $45.61 on Thursday. The company has a market capitalization of $1.83 billion, a PE ratio of 13.91, a PEG ratio of 0.95 and a beta of 0.89. The company’s 50 day moving average price is $50.27 and its 200 day moving average price is $43.58. Skyward Specialty Insurance Group, Inc. has a 52 week low of $29.40 and a 52 week high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its 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. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The company had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. During the same quarter last year, the business posted $0.65 EPS. On average, equities analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new position in Skyward Specialty Insurance Group in the third quarter worth approximately $41,000. Amalgamated Bank grew its position in Skyward Specialty Insurance Group by 27.7% in the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after acquiring an additional 279 shares in the last quarter. Quarry LP increased its stake in shares of Skyward Specialty Insurance Group by 176.9% during the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after purchasing an additional 879 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Skyward Specialty Insurance Group during the 2nd quarter valued at $160,000. Finally, CWM LLC lifted its stake in shares of Skyward Specialty Insurance Group by 3,103.1% in the 3rd quarter. CWM LLC now owns 4,132 shares of the company’s stock valued at $168,000 after purchasing an additional 4,003 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SKWD. JMP Securities lifted their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Raymond James lifted 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. Jefferies Financial Group upped their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Barclays lifted their target price 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. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $47.78.

Skyward Specialty Insurance Group Company Profile

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.