Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Sees Significant Drop in Short Interest

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) was the target of a significant drop in short interest in March. As of March 13th, there was short interest totaling 1,356,215 shares, a drop of 21.8% from the February 26th total of 1,733,602 shares. Based on an average trading volume of 531,096 shares, the short-interest ratio is presently 2.6 days. Currently, 3.3% of the company’s stock are short sold.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson purchased 22,100 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were acquired at an average price of $46.76 per share, for a total transaction of $1,033,396.00. Following the acquisition, the chief executive officer owned 167,674 shares of the company’s stock, valued at $7,840,436.24. This trade represents a 15.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher Locke Peirce bought 3,200 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were bought at an average price of $47.30 per share, for a total transaction of $151,360.00. Following the completion of the acquisition, the director owned 3,200 shares of the company’s stock, valued at approximately $151,360. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 30,500 shares of company stock valued at $1,433,546 in the last three months. Insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new position in Skyward Specialty Insurance Group in the fourth quarter valued at about $27,000. GAMMA Investing LLC lifted its stake in Skyward Specialty Insurance Group by 75.8% in the 4th quarter. GAMMA Investing LLC now owns 575 shares of the company’s stock valued at $29,000 after acquiring an additional 248 shares in the last quarter. Assetmark Inc. boosted its holdings in Skyward Specialty Insurance Group by 1,210.5% during the third quarter. Assetmark Inc. now owns 747 shares of the company’s stock worth $36,000 after purchasing an additional 690 shares during the last quarter. Quarry LP boosted its stake in shares of Skyward Specialty Insurance Group by 558.9% during the 3rd quarter. Quarry LP now owns 995 shares of the company’s stock worth $47,000 after buying an additional 844 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Skyward Specialty Insurance Group during the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Stock Down 2.6%

Shares of SKWD opened at $42.13 on Friday. The firm has a market capitalization of $1.88 billion, a PE ratio of 10.35 and a beta of 0.54. Skyward Specialty Insurance Group has a 12-month low of $40.60 and a 12-month high of $65.05. The stock’s fifty day simple moving average is $45.18 and its 200-day simple moving average is $46.92.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Monday, February 23rd. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.96 by $0.21. Skyward Specialty Insurance Group had a net margin of 12.00% and a return on equity of 17.98%. The company had revenue of $385.59 million during the quarter, compared to analysts’ expectations of $380.86 million. During the same quarter in the previous year, the company earned $0.80 EPS. Analysts anticipate that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on SKWD. Susquehanna set a $80.00 price target on shares of Skyward Specialty Insurance Group in a research report on Friday, January 16th. Barclays set a $63.00 price target on Skyward Specialty Insurance Group in a report on Thursday, January 8th. Citigroup reaffirmed a “market outperform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, January 16th. Weiss Ratings downgraded Skyward Specialty Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Finally, Raymond James Financial set a $66.00 price target on shares of Skyward Specialty Insurance Group in a report on Friday, December 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.80.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc (NASDAQ: SKWD) is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.