Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Director Sells 1,000 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Director Gena L. Ashe sold 1,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was 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 in the company, valued at approximately $37,155.08. This represents a 57.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Skyward Specialty Insurance Group Trading Down 1.6 %

NASDAQ SKWD opened at $47.26 on Tuesday. The stock has a 50-day simple moving average of $47.43 and a 200 day simple moving average of $46.65. The company has a market capitalization of $1.90 billion, a PE ratio of 14.41, a P/E/G ratio of 0.81 and a beta of 0.67. Skyward Specialty Insurance Group, Inc. has a 12 month low of $33.27 and a 12 month high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $304.40 million during the quarter, compared to the consensus estimate of $295.56 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. As a group, sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter worth about $6,048,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Skyward Specialty Insurance Group by 35.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,587 shares of the company’s stock worth $4,326,000 after acquiring an additional 22,313 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Skyward Specialty Insurance Group by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 10,461 shares of the company’s stock worth $529,000 after acquiring an additional 3,442 shares in the last quarter. Quantedge Capital Pte Ltd bought a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter worth about $445,000. Finally, Man Group plc bought a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter worth about $507,000. Institutional investors own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SKWD shares. Keefe, Bruyette & Woods boosted their price objective on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Truist Financial upped their price target on 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. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price target on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. TD Cowen assumed coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a “hold” rating and a $43.00 price target on the stock. Finally, Piper Sandler cut their price target on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $55.00.

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.