Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Director Sells 25,000 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Director James Charles Hays sold 25,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total value of $1,350,000.00. Following the completion of the sale, the director now directly owns 747,261 shares of the company’s stock, valued at $40,352,094. This represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Skyward Specialty Insurance Group Stock Up 1.4 %

Skyward Specialty Insurance Group stock traded up $0.77 during midday trading on Wednesday, hitting $54.93. 214,618 shares of the stock were exchanged, compared to its average volume of 350,870. Skyward Specialty Insurance Group, Inc. has a 52 week low of $29.40 and a 52 week high of $54.93. The stock has a market capitalization of $2.20 billion, a PE ratio of 16.41, a P/E/G ratio of 0.98 and a beta of 0.76. The company has a fifty day simple moving average of $46.95 and a two-hundred day simple moving average of $40.98.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.06. The company had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same quarter in the previous year, the business earned $0.65 EPS. As a group, equities research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SKWD. Piper Sandler upped their target price on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Jefferies Financial Group lifted their target price on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods upped their price target on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Raymond James lifted their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 5th. Finally, Barclays increased their price objective on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $46.89.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SKWD. Franklin Resources Inc. raised its position in Skyward Specialty Insurance Group by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock worth $45,506,000 after acquiring an additional 158,679 shares in the last quarter. Barclays PLC raised its holdings in shares of Skyward Specialty Insurance Group by 277.7% in the 3rd quarter. Barclays PLC now owns 64,032 shares of the company’s stock valued at $2,608,000 after purchasing an additional 47,081 shares during the period. Orion Portfolio Solutions LLC bought a new position in Skyward Specialty Insurance Group during the third quarter worth about $297,000. XTX Topco Ltd acquired a new position in Skyward Specialty Insurance Group during the third quarter worth approximately $394,000. Finally, Two Sigma Advisers LP raised its stake in Skyward Specialty Insurance Group by 15.3% in the third quarter. Two Sigma Advisers LP now owns 490,200 shares of the company’s stock valued at $19,966,000 after buying an additional 65,200 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

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.