Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CEO Sells $296,713.70 in Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CEO Andrew S. Robinson sold 6,010 shares of the company’s stock in a transaction that occurred 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 directly 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 document filed with the SEC, which can be accessed through this link.

Skyward Specialty Insurance Group Trading Down 3.0 %

NASDAQ:SKWD opened at $45.09 on Tuesday. The stock’s 50-day moving average is $50.23 and its 200-day moving average is $43.49. Skyward Specialty Insurance Group, Inc. has a 1-year low of $29.40 and a 1-year high of $55.62. The stock has a market cap of $1.81 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The firm had revenue of $300.89 million for the quarter, compared to analyst estimates of $292.43 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same period in the previous year, the firm posted $0.65 EPS. As a group, equities analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current year.

Institutional Trading of Skyward Specialty Insurance Group

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group boosted 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 report on Wednesday, October 9th. Raymond James upped their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. JMP Securities lifted their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays increased 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 report on Monday. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.