Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Sees Significant Decrease in Short Interest

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 637,800 shares, a drop of 12.4% from the February 28th total of 728,100 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average daily volume of 391,200 shares, the short-interest ratio is presently 1.6 days.

Insider Activity

In other news, Director Gena L. Ashe sold 1,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total value of $50,620.00. Following the sale, the director now owns 734 shares of the company’s stock, valued at approximately $37,155.08. The trade was a 57.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas N. Schmitt sold 546 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $46.85, for a total value of $25,580.10. Following the transaction, the insider now directly owns 10,246 shares of the company’s stock, valued at $480,025.10. This represents a 5.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,369 shares of company stock valued at $725,173. Company insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. boosted its stake in shares of Skyward Specialty Insurance Group by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after buying an additional 247 shares during the period. IHT Wealth Management LLC boosted its position in Skyward Specialty Insurance Group by 4.6% during the third quarter. IHT Wealth Management LLC now owns 10,501 shares of the company’s stock valued at $428,000 after purchasing an additional 464 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Skyward Specialty Insurance Group by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,129 shares of the company’s stock valued at $1,068,000 after purchasing an additional 748 shares in the last quarter. Sterling Capital Management LLC increased its position in Skyward Specialty Insurance Group by 756.1% in the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock worth $46,000 after purchasing an additional 809 shares during the last quarter. Finally, Riverwater Partners LLC raised its stake in shares of Skyward Specialty Insurance Group by 2.5% during the 4th quarter. Riverwater Partners LLC now owns 35,013 shares of the company’s stock worth $1,770,000 after purchasing an additional 862 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Trading Down 1.1 %

Shares of SKWD stock opened at $54.02 on Friday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 0.81 and a beta of 0.67. Skyward Specialty Insurance Group has a 1-year low of $33.27 and a 1-year high of $55.62. The stock’s fifty day simple moving average is $49.53 and its 200-day simple moving average is $47.94.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a “hold” rating and a $43.00 price objective for the company. Piper Sandler cut their target price on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Barclays raised Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $53.00 to $63.00 in a report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.25.

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.