Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Short Interest Down 20.8% in February

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 728,100 shares, a decrease of 20.8% from the February 13th total of 919,500 shares. Based on an average trading volume of 364,300 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.1% of the company’s shares are short sold.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a “hold” rating and a $43.00 price objective on the stock. Piper Sandler lowered 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. Barclays upgraded Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $53.00 to $63.00 in a report on Friday, March 14th. Finally, JMP Securities reiterated a “market outperform” rating and set a $60.00 price objective on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.25.

Skyward Specialty Insurance Group Stock Down 0.8 %

NASDAQ SKWD opened at $49.09 on Wednesday. Skyward Specialty Insurance Group has a twelve month low of $33.27 and a twelve month high of $55.62. The company’s 50-day simple moving average is $47.54 and its 200 day simple moving average is $47.01. The stock has a market cap of $1.97 billion, a P/E ratio of 14.97, a PEG ratio of 0.81 and a beta of 0.67.

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

Insider Activity

In related news, CEO Andrew S. Robinson sold 6,010 shares of the firm’s 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 sale, the chief executive officer now owns 77,144 shares of the company’s stock, valued at approximately $3,808,599.28. This trade represents a 7.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gena L. Ashe sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.62, for a total value of $50,620.00. Following the completion of the transaction, the director now directly owns 734 shares of the company’s stock, valued at approximately $37,155.08. The trade was a 57.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,450 shares of company stock valued at $1,369,342 in the last ninety days. 8.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SKWD. Sterling Capital Management LLC boosted its stake in shares of Skyward Specialty Insurance Group by 756.1% in the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after buying an additional 809 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $61,000. Quarry LP increased its stake in Skyward Specialty Insurance Group by 176.9% in the third quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after acquiring an additional 879 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Skyward Specialty Insurance Group by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after purchasing an additional 247 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Skyward Specialty Insurance Group during the fourth quarter worth $219,000. Institutional investors own 94.83% of the company’s stock.

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.