Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Insider Sells 637 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) insider Thomas N. Schmitt sold 637 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $47.81, for a total transaction of $30,454.97. Following the completion of the sale, the insider now directly owns 10,792 shares in the company, valued at approximately $515,965.52. The trade was a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Skyward Specialty Insurance Group Trading Down 3.0 %

Shares of NASDAQ:SKWD traded down $1.38 on Monday, reaching $45.09. 565,125 shares of the company’s stock were exchanged, compared to its average volume of 409,575. Skyward Specialty Insurance Group, Inc. has a twelve month low of $29.40 and a twelve month high of $55.62. The company has a fifty day moving average of $50.23 and a 200-day moving average of $43.49. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.95 and a beta of 0.89.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 EPS 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 return on equity of 16.39% and a net margin of 12.24%. During the same quarter last year, the company earned $0.65 EPS. As a group, equities research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in 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 buying an additional 34,612 shares in the last quarter. Barclays PLC lifted its holdings in shares of 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 acquiring an additional 47,081 shares during the period. Marshall Wace LLP acquired a new stake in shares of Skyward Specialty Insurance Group during the 2nd quarter worth approximately $10,152,000. State Street Corp increased its stake in Skyward Specialty Insurance Group by 10.8% in the third quarter. State Street Corp now owns 844,233 shares of the company’s stock valued at $34,386,000 after acquiring an additional 82,328 shares during the last quarter. Finally, Navellier & Associates Inc. acquired a new position in Skyward Specialty Insurance Group during the third quarter valued at approximately $1,051,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

SKWD has been the topic of several research analyst reports. Jefferies Financial Group upped their price objective on 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 Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 5th. Barclays upped their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday. Finally, JMP Securities raised their target price on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and an average price target of $47.78.

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.