Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Insider Thomas N. Schmitt Sells 546 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) insider Thomas N. Schmitt sold 546 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $46.85, for a total value of $25,580.10. Following the completion of the sale, the insider now directly owns 10,246 shares of the company’s stock, valued at $480,025.10. This trade represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $45.09 on Tuesday. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $29.40 and a fifty-two week high of $55.62. The company has a 50 day moving average price of $50.23 and a 200 day moving average price of $43.49. The stock has a market capitalization of $1.81 billion, a P/E ratio of 13.75, a PEG ratio of 0.95 and a beta of 0.89.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. JMP Securities upped their price objective on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their price target 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. Raymond James raised their price target on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 5th. Finally, Barclays increased their price objective on 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 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.78.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several institutional investors have recently bought and sold shares of SKWD. Principal Financial Group Inc. lifted its position in shares of Skyward Specialty Insurance Group by 49.8% during the third quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock worth $4,240,000 after purchasing an additional 34,612 shares in the last quarter. Barclays PLC increased its stake in Skyward Specialty Insurance Group by 277.7% during the 3rd quarter. Barclays PLC now owns 64,032 shares of the company’s stock worth $2,608,000 after buying an additional 47,081 shares during the period. Marshall Wace LLP purchased a new stake in Skyward Specialty Insurance Group during the 2nd quarter worth approximately $10,152,000. State Street Corp lifted its holdings in Skyward Specialty Insurance Group by 10.8% during the 3rd quarter. State Street Corp now owns 844,233 shares of the company’s stock worth $34,386,000 after buying an additional 82,328 shares in the last quarter. Finally, Navellier & Associates Inc. purchased a new position in Skyward Specialty Insurance Group in the 3rd quarter valued at approximately $1,051,000. 94.83% of the stock is owned by institutional investors and hedge funds.

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.