Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Insider Sells $242,759.68 in Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) insider John A. Burkhart III sold 4,832 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $50.24, for a total value of $242,759.68. Following the transaction, the insider now directly owns 17,655 shares in the company, valued at approximately $886,987.20. This trade represents a 21.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Skyward Specialty Insurance Group Trading Down 1.6 %

Shares of NASDAQ:SKWD traded down $0.77 during midday trading on Monday, reaching $47.26. 360,250 shares of the company were exchanged, compared to its average volume of 349,472. The business’s fifty day moving average is $47.49 and its two-hundred day moving average is $46.59. Skyward Specialty Insurance Group, Inc. has a one year low of $33.27 and a one year high of $55.62. The stock has a market cap of $1.90 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 0.81 and a beta of 0.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate 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. As a group, sell-side analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC increased its holdings in Skyward Specialty Insurance Group by 756.1% in the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock worth $46,000 after buying an additional 809 shares during the period. Quarry LP boosted its stake in 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. ORG Wealth Partners LLC purchased a new position in Skyward Specialty Insurance Group in the 4th quarter worth approximately $61,000. Summit Investment Advisors Inc. boosted its position in shares of Skyward Specialty Insurance Group by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after acquiring an additional 247 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Skyward Specialty Insurance Group during the fourth quarter worth $219,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 price objective on the stock. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Truist Financial increased their target price on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Piper Sandler decreased their price objective on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.00.

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.