Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CEO Sells $296,713.70 in Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CEO Andrew S. Robinson sold 6,010 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total value of $296,713.70. Following the completion of the transaction, the chief executive officer now owns 77,144 shares in the company, valued at approximately $3,808,599.28. This trade represents a 7.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Skyward Specialty Insurance Group Stock Up 0.2 %

Shares of NASDAQ:SKWD opened at $45.61 on Thursday. The company has a market cap of $1.83 billion, a PE ratio of 13.91, a P/E/G ratio of 0.95 and a beta of 0.89. 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 50-day simple moving average of $50.27 and a 200 day simple moving average of $43.58.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The business had revenue of $300.89 million for the quarter, compared to analysts’ expectations of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same period in the prior year, the firm earned $0.65 EPS. As a group, research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SKWD shares. JMP Securities upped their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Raymond James raised their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 5th. Finally, Barclays upped their target price on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and an average target price of $47.78.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its holdings in shares of Skyward Specialty Insurance Group by 1.0% during the third quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock valued at $52,786,000 after acquiring an additional 12,484 shares during the period. Driehaus Capital Management LLC boosted its stake in 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 valued at $45,528,000 after purchasing an additional 34,286 shares during the period. Franklin Resources Inc. boosted its stake in Skyward Specialty Insurance Group by 16.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock valued at $45,506,000 after purchasing an additional 158,679 shares during the period. American Century Companies Inc. grew its position in Skyward Specialty Insurance Group by 9.2% in the 2nd quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock worth $33,269,000 after purchasing an additional 77,354 shares during the last quarter. Finally, Emerald Advisers LLC increased its stake in shares of Skyward Specialty Insurance Group by 3.4% in the third quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock valued at $35,622,000 after purchasing an additional 28,618 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

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.