Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Director Sells 1,000 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Director Gena L. Ashe sold 1,000 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total transaction of $50,620.00. Following the sale, the director now directly owns 734 shares of the company’s stock, valued at approximately $37,155.08. This trade represents a 57.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD traded down $0.77 during trading hours on Monday, hitting $47.26. The stock had a trading volume of 360,259 shares, compared to its average volume of 413,406. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 0.81 and a beta of 0.67. Skyward Specialty Insurance Group, Inc. has a 52 week low of $33.27 and a 52 week high of $55.62. The company’s fifty day moving average is $47.49 and its two-hundred day moving average is $46.59.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The company had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $295.56 million. Equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter worth $6,048,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Skyward Specialty Insurance Group by 35.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,587 shares of the company’s stock worth $4,326,000 after purchasing an additional 22,313 shares in the last quarter. ProShare Advisors LLC boosted its position in Skyward Specialty Insurance Group by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 10,461 shares of the company’s stock worth $529,000 after buying an additional 3,442 shares during the period. Quantedge Capital Pte Ltd bought a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter worth $445,000. Finally, Man Group plc acquired a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $507,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SKWD. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. JMP Securities restated a “market outperform” rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Truist Financial raised their price target on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a “hold” rating and a $43.00 target price on the stock. Finally, Barclays boosted their price objective on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

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.