Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) EVP Sells 4,347 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) EVP Sandip A. Kapadia sold 4,347 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.51, for a total transaction of $215,219.97. Following the completion of the transaction, the executive vice president now directly owns 12,508 shares of the company’s stock, valued at approximately $619,271.08. This trade represents a 25.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Skyward Specialty Insurance Group Stock Down 3.0 %

SKWD stock opened at $45.09 on Tuesday. Skyward Specialty Insurance Group, Inc. has a twelve month low of $29.40 and a twelve month high of $55.62. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.95 and a beta of 0.89. The business’s fifty day simple moving average is $50.23 and its two-hundred day simple moving average is $43.49.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly 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. The company had revenue of $300.89 million for the quarter, compared to the consensus estimate 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 last year, the firm posted $0.65 EPS. Research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Monday. JMP Securities boosted their price objective 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. Raymond James raised their price objective 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, Jefferies Financial Group boosted their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $47.78.

Institutional Trading of Skyward Specialty Insurance Group

A number of large investors have recently modified their holdings of the company. Jennison Associates LLC increased its holdings in Skyward Specialty Insurance Group by 1.0% during the 3rd 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 during the period. Driehaus Capital Management LLC grew its position 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 in the last quarter. Franklin Resources Inc. increased its stake in shares of 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 valued at $45,506,000 after buying an additional 158,679 shares during the period. American Century Companies Inc. lifted its stake in Skyward Specialty Insurance Group by 9.2% in the second quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock worth $33,269,000 after acquiring an additional 77,354 shares during the period. Finally, Emerald Advisers LLC grew 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 worth $35,622,000 after acquiring an additional 28,618 shares in the last quarter. Hedge funds and other institutional investors 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.