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

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) shares dropped 4.6% on Friday . The company traded as low as $34.24 and last traded at $34.31. Approximately 170,998 shares changed hands during mid-day 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

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. JMP Securities boosted their target price on shares of Skyward Specialty Insurance Group from $40.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Monday, April 15th. Truist Financial increased their price target on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Piper Sandler upped their target price on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Finally, 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 price target on the stock. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $39.89.

Skyward Specialty Insurance Group Trading Down 7.0 %

The stock’s 50-day moving average price is $36.18 and its 200-day moving average price is $33.04. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 14.94 and a beta of 0.45.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Tuesday, February 20th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 14.31%. The business had revenue of $321.60 million during the quarter, compared to the consensus estimate of $320.34 million. During the same quarter last year, the firm earned $0.36 earnings per share. Skyward Specialty Insurance Group’s quarterly revenue was up 21.5% on a year-over-year basis. As a group, analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.64 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SKWD. Amalgamated Bank raised its holdings in shares of Skyward Specialty Insurance Group by 90.9% in the 3rd quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock worth $63,000 after acquiring an additional 1,095 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Skyward Specialty Insurance Group by 54.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock worth $114,000 after purchasing an additional 1,186 shares in the last quarter. Diversified Trust Co raised its stake in shares of Skyward Specialty Insurance Group by 21.1% in the fourth quarter. Diversified Trust Co now owns 9,325 shares of the company’s stock worth $316,000 after purchasing an additional 1,625 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Skyward Specialty Insurance Group by 82.2% in the third quarter. New York State Common Retirement Fund now owns 6,895 shares of the company’s stock valued at $189,000 after purchasing an additional 3,110 shares in the last quarter. Finally, Jump Financial LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 10.2% in the fourth quarter. Jump Financial LLC now owns 50,185 shares of the company’s stock valued at $1,700,000 after purchasing an additional 4,642 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

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.