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 firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the transaction, the insider now directly owns 17,655 shares of the company’s stock, valued at $886,987.20. The trade was 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 Stock Performance

Shares of NASDAQ:SKWD opened at $47.26 on Tuesday. The business has a fifty day moving average of $47.43 and a 200-day moving average of $46.65. Skyward Specialty Insurance Group, Inc. has a twelve month low of $33.27 and a twelve month high of $55.62. The firm 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 posted its quarterly earnings data 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 net margin of 12.24% and a return on equity of 16.39%. The firm had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $295.56 million. On average, analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on SKWD shares. Keefe, Bruyette & Woods raised their price target on shares of 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. Barclays raised their target price 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, January 6th. Piper Sandler lowered 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 report on Thursday, February 6th. JMP Securities reissued 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. Finally, Truist Financial upped 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 report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SKWD. Vanguard Group Inc. raised its position in shares of Skyward Specialty Insurance Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock worth $114,990,000 after acquiring an additional 16,572 shares during the last quarter. American Century Companies Inc. increased its position in Skyward Specialty Insurance Group by 54.0% in the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock worth $79,744,000 after purchasing an additional 553,389 shares during the period. Jennison Associates LLC increased its position in Skyward Specialty Insurance Group by 1.0% in the third quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock worth $52,786,000 after purchasing an additional 12,484 shares during the period. Invesco Ltd. raised its holdings in Skyward Specialty Insurance Group by 9.1% during the 4th quarter. Invesco Ltd. now owns 1,217,329 shares of the company’s stock worth $61,524,000 after purchasing an additional 102,042 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Skyward Specialty Insurance Group by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company’s stock valued at $58,860,000 after purchasing an additional 47,363 shares during the period. Institutional investors own 94.83% of the company’s stock.

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.