Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) EVP Sells 908 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) EVP Sandip A. Kapadia sold 908 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $46.98, for a total value of $42,657.84. Following the completion of the sale, the executive vice president now directly owns 10,371 shares of the company’s stock, valued at $487,229.58. The trade was a 8.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Skyward Specialty Insurance Group Price Performance

SKWD opened at $45.09 on Tuesday. The company’s 50-day moving average is $50.23 and its 200 day moving average is $43.49. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $29.40 and a fifty-two week high of $55.62. The firm has a market capitalization of $1.81 billion, a P/E ratio of 13.75, a PEG ratio of 0.95 and a beta of 0.89.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $0.65 earnings per share. On average, equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SKWD has been the subject of a number of research reports. Jefferies Financial Group raised their price objective on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays lifted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research report on Monday. JMP Securities raised their price objective on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Finally, Raymond James boosted their target price on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. Three 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. According to data from MarketBeat, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $47.78.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new position in shares of Skyward Specialty Insurance Group during the third quarter valued at about $41,000. Amalgamated Bank raised its position in Skyward Specialty Insurance Group by 27.7% in the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after acquiring an additional 279 shares during the period. Quarry LP raised its position in Skyward Specialty Insurance Group by 176.9% in the third quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after acquiring an additional 879 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Skyward Specialty Insurance Group in the second quarter worth about $160,000. Finally, CWM LLC raised its position in Skyward Specialty Insurance Group by 3,103.1% in the third quarter. CWM LLC now owns 4,132 shares of the company’s stock worth $168,000 after acquiring an additional 4,003 shares during the period. 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.