Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CFO Sells 1,630 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CFO Mark W. Haushill sold 1,630 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $49.06, for a total value of $79,967.80. Following the completion of the sale, the chief financial officer now directly owns 176,971 shares of the company’s stock, valued at $8,682,197.26. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Skyward Specialty Insurance Group Trading Down 3.0 %

Shares of SKWD traded down $1.38 during mid-day trading on Monday, hitting $45.09. The company’s stock had a trading volume of 565,125 shares, compared to its average volume of 409,575. Skyward Specialty Insurance Group, Inc. has a 1-year low of $29.40 and a 1-year high of $55.62. The firm has a market capitalization of $1.81 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.95 and a beta of 0.89. The firm has a 50-day simple moving average of $50.23 and a 200 day simple moving average of $43.49.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.65 by $0.06. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The company had revenue of $300.89 million for the quarter, compared to analyst estimates of $292.43 million. During the same period in the previous year, the firm earned $0.65 EPS. As a group, sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on SKWD shares. Jefferies Financial Group increased their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays upped their price objective on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday. Raymond James lifted their target price on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 5th. Finally, JMP Securities upped their price target on 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 investment 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 company’s stock. According to MarketBeat, Skyward Specialty Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.78.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of SKWD. Jennison Associates LLC boosted its position in Skyward Specialty Insurance Group by 1.0% during the third quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock worth $52,786,000 after purchasing an additional 12,484 shares in the last quarter. Driehaus Capital Management LLC raised its stake in shares of Skyward Specialty Insurance Group by 2.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company’s stock worth $45,528,000 after buying an additional 34,286 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Skyward Specialty Insurance Group by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock worth $45,506,000 after buying an additional 158,679 shares in the last quarter. American Century Companies Inc. grew its stake in Skyward Specialty Insurance Group by 9.2% in the 2nd quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock valued at $33,269,000 after acquiring an additional 77,354 shares during the last quarter. Finally, Emerald Advisers LLC increased its holdings in Skyward Specialty Insurance Group by 3.4% during the 3rd quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock valued at $35,622,000 after acquiring an additional 28,618 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.