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

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SKWD shares. Wolfe Research assumed coverage on Skyward Specialty Insurance Group in a research note on Thursday, January 11th. They set an “outperform” rating and a $39.00 target price on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company 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 report on Thursday, February 22nd. JMP Securities lifted their target price on shares of Skyward Specialty Insurance Group from $40.00 to $42.00 and gave the company a “market outperform” rating in a research note on Monday, April 15th. Finally, Piper Sandler increased their price target on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $39.89.

Skyward Specialty Insurance Group Price Performance

The business has a 50 day moving average price of $36.18 and a 200 day moving average price of $33.04. The stock has a market capitalization of $1.34 billion, a PE ratio of 14.94 and a beta of 0.45.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. The company had revenue of $321.60 million for the quarter, compared to the consensus estimate of $320.34 million. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 14.31%. Skyward Specialty Insurance Group’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. On average, equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 2.64 earnings per share for the current year.

Insider Activity at Skyward Specialty Insurance Group

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

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in Skyward Specialty Insurance Group by 208.9% during the third quarter. Bank of New York Mellon Corp now owns 91,346 shares of the company’s stock valued at $2,499,000 after purchasing an additional 61,772 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Skyward Specialty Insurance Group in the third quarter worth $306,000. Allspring Global Investments Holdings LLC purchased a new position in Skyward Specialty Insurance Group during the third quarter worth $3,296,000. Jennison Associates LLC increased its position in Skyward Specialty Insurance Group by 35.2% during the third quarter. Jennison Associates LLC now owns 1,356,301 shares of the company’s stock valued at $37,108,000 after acquiring an additional 352,971 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Skyward Specialty Insurance Group in the third quarter valued at $957,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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.