Skyward Specialty Insurance Group (NASDAQ:SKWD) Sets New 52-Week High at $37.80

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $37.80 and last traded at $37.52, with a volume of 20118 shares. The stock had previously closed at $37.19.

Wall Street Analyst Weigh In

SKWD has been the topic of several recent research reports. BMO Capital Markets increased their target price on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, February 26th. JMP Securities raised their target price on Skyward Specialty Insurance Group from $38.00 to $40.00 and gave the company a “market outperform” rating in a research report on Wednesday, February 21st. Jefferies Financial Group started coverage on Skyward Specialty Insurance Group in a report on Tuesday, December 12th. They issued a “buy” rating and a $40.00 price objective on the stock. Wolfe Research started coverage on shares of Skyward Specialty Insurance Group in a research note on Thursday, January 11th. They issued an “outperform” rating and a $39.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Skyward Specialty Insurance Group from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $38.44.

Skyward Specialty Insurance Group Price Performance

The company’s 50 day simple moving average is $33.95 and its 200 day simple moving average is $31.66. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 16.60 and a beta of 0.48.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, February 20th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. The firm had revenue of $321.60 million for the quarter, compared to analyst estimates of $320.34 million. Skyward Specialty Insurance Group had a return on equity of 15.27% and a net margin of 9.56%. Skyward Specialty Insurance Group’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. As a group, analysts forecast that Skyward Specialty Insurance Group, Inc. will post 2.63 earnings per share for the current year.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the transaction, the chief financial officer now owns 261,688 shares of the company’s stock, valued at $9,410,300.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Mark W. Haushill sold 35,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the completion of the sale, the chief financial officer now owns 261,688 shares in the company, valued at $9,410,300.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew S. Robinson sold 12,109 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $35.56, for a total transaction of $430,596.04. Following the completion of the sale, the chief executive officer now owns 74,533 shares of the company’s stock, valued at approximately $2,650,393.48. The disclosure for this sale can be found here. Insiders have sold 98,890 shares of company stock valued at $3,533,839 over the last quarter. 9.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SKWD. Royce & Associates LP purchased a new position in shares of Skyward Specialty Insurance Group during the 1st quarter worth approximately $7,538,000. Barclays PLC purchased a new position in shares of Skyward Specialty Insurance Group during the 1st quarter worth approximately $187,000. California State Teachers Retirement System purchased a new position in shares of Skyward Specialty Insurance Group during the 1st quarter worth approximately $84,000. Bank of New York Mellon Corp purchased a new position in shares of Skyward Specialty Insurance Group during the 1st quarter worth approximately $654,000. Finally, Rhumbline Advisers purchased a new position in shares of Skyward Specialty Insurance Group during the 1st quarter worth approximately $220,000. 94.83% of the stock is owned by hedge funds and other 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.