Skyward Specialty Insurance Group (NASDAQ:SKWD) Sees Unusually-High Trading Volume

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) saw unusually-high trading volume on Thursday . Approximately 321,149 shares traded hands during trading, a decline of 10% from the previous session’s volume of 357,299 shares.The stock last traded at $41.14 and had previously closed at $41.10.

Wall Street Analyst Weigh In

SKWD has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their price target on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Piper Sandler increased their price target on shares of Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. William Blair assumed coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, August 19th. They issued an “outperform” rating on the stock. Oppenheimer assumed coverage on shares of Skyward Specialty Insurance Group in a report on Friday, July 12th. They issued a “market perform” rating for the company. Finally, JMP Securities raised their price target on Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 6th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.78.

Skyward Specialty Insurance Group Stock Up 2.1 %

The business’s fifty day moving average is $39.35 and its 200 day moving average is $37.49. The stock has a market cap of $1.68 billion, a PE ratio of 15.11, a P/E/G ratio of 0.77 and a beta of 0.60.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Monday, August 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.15. The business had revenue of $279.94 million for the quarter, compared to analysts’ expectations of $282.70 million. Skyward Specialty Insurance Group had a return on equity of 17.36% and a net margin of 11.52%. During the same quarter in the prior year, the firm posted $0.42 EPS. As a group, analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.96 EPS for the current year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $36.87, for a total transaction of $60,946.11. Following the sale, the director now owns 4,001 shares in the company, valued at approximately $147,516.87. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.01% of the company’s stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several hedge funds have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Skyward Specialty Insurance Group during the second quarter worth $1,809,000. Cim LLC purchased a new position in Skyward Specialty Insurance Group during the second quarter worth about $249,000. Ghisallo Capital Management LLC lifted its position in Skyward Specialty Insurance Group by 18.5% during the second quarter. Ghisallo Capital Management LLC now owns 118,457 shares of the company’s stock worth $4,286,000 after buying an additional 18,457 shares during the period. Driehaus Capital Management LLC boosted its stake in Skyward Specialty Insurance Group by 2.8% in 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. Finally, Lighthouse Investment Partners LLC grew its holdings in Skyward Specialty Insurance Group by 93.1% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 112,162 shares of the company’s stock valued at $4,058,000 after buying an additional 54,069 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.