Skyward Specialty Insurance Group (NASDAQ:SKWD) Trading Down 4.6%

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)’s stock price was down 4.6% during trading on Friday . The stock traded as low as $34.24 and last traded at $34.31. Approximately 170,998 shares traded hands during trading, a decline of 43% from the average daily volume of 300,999 shares. The stock had previously closed at $35.96.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SKWD shares. Keefe, Bruyette & Woods boosted their target price on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Truist Financial upped their price objective on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Wolfe Research assumed coverage on shares of Skyward Specialty Insurance Group in a research report on Thursday, January 11th. They issued an “outperform” rating and a $39.00 price objective for the company. Piper Sandler upped their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, BMO Capital Markets upped their price objective on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $39.89.

Skyward Specialty Insurance Group Price Performance

The stock has a market capitalization of $1.34 billion, a PE ratio of 14.94 and a beta of 0.45. The stock’s 50 day simple moving average is $36.17 and its two-hundred day simple moving average is $33.10.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Tuesday, February 20th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The firm had revenue of $321.60 million for the quarter, compared to analysts’ expectations of $320.34 million. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 14.31%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $35.96, for a total value of $1,258,600.00. Following the transaction, the chief financial officer now directly owns 261,688 shares in the company, valued at $9,410,300.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $35.96, for a total value of $1,258,600.00. Following the transaction, the chief financial officer now directly owns 261,688 shares in the company, valued at $9,410,300.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Haushill sold 25,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $35.58, for a total transaction of $889,500.00. Following the completion of the transaction, the chief financial officer now owns 236,688 shares in the company, valued at $8,421,359.04. The disclosure for this sale can be found here. Insiders have sold a total of 98,890 shares of company stock worth $3,533,839 over the last three months. 8.01% of the stock is currently owned by insiders.

Institutional Trading of Skyward Specialty Insurance Group

A number of institutional investors have recently modified their holdings of SKWD. Amalgamated Bank lifted its stake in shares of Skyward Specialty Insurance Group by 90.9% during the 3rd quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock valued at $63,000 after buying an additional 1,095 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Skyward Specialty Insurance Group by 54.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock valued at $114,000 after buying an additional 1,186 shares in the last quarter. Adalta Capital Management LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the 3rd quarter valued at approximately $137,000. International Assets Investment Management LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter valued at approximately $161,000. Finally, New York State Common Retirement Fund lifted its stake in shares of Skyward Specialty Insurance Group by 82.2% during the 3rd quarter. New York State Common Retirement Fund now owns 6,895 shares of the company’s stock valued at $189,000 after buying an additional 3,110 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

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.