Skyward Specialty Insurance Group (NASDAQ:SKWD) Shares Gap Down to $37.58

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) shares gapped down before the market opened on Monday . The stock had previously closed at $37.58, but opened at $36.30. Skyward Specialty Insurance Group shares last traded at $37.89, with a volume of 89,700 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on SKWD shares. Wolfe Research initiated 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 for the company. BMO Capital Markets lifted their target price on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. Keefe, Bruyette & Woods raised their price objective on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. JMP Securities upped their target price on Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the company a “market outperform” rating in a research report on Thursday, May 2nd. Finally, Truist Financial raised their price target on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $40.56.

Skyward Specialty Insurance Group Trading Up 0.0 %

The stock’s 50-day moving average price is $36.32 and its 200-day moving average price is $33.50. The company has a market capitalization of $1.50 billion, a P/E ratio of 13.83 and a beta of 0.68.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The business had revenue of $264.97 million for the quarter, compared to analysts’ expectations of $251.66 million. Skyward Specialty Insurance Group had a return on equity of 16.81% and a net margin of 11.16%. During the same period in the prior year, the firm earned $0.42 EPS. Sell-side analysts expect that Skyward Specialty Insurance Group, Inc. will post 2.7 earnings per share for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 12,109 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $35.56, for a total value of $430,596.04. Following the completion of the transaction, the chief executive officer now owns 74,533 shares in the company, valued at approximately $2,650,393.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 13,374 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $35.70, for a total value of $477,451.80. Following the sale, the chief executive officer now directly owns 96,883 shares in the company, valued at $3,458,723.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew S. Robinson sold 12,109 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $35.56, for a total transaction of $430,596.04. Following the completion of the transaction, the chief executive officer now directly owns 74,533 shares in the company, valued at approximately $2,650,393.48. The disclosure for this sale can be found here. Insiders have sold a total of 98,890 shares of company stock worth $3,533,839 in the last ninety days. 8.01% of the stock is owned by insiders.

Institutional Trading of Skyward Specialty Insurance Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its position in shares of Skyward Specialty Insurance Group by 90.9% during the 3rd quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock valued at $63,000 after acquiring an additional 1,095 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Skyward Specialty Insurance Group by 54.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,362 shares of the company’s stock worth $114,000 after buying an additional 1,186 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter valued at $161,000. Adalta Capital Management LLC acquired a new position in Skyward Specialty Insurance Group during the third quarter valued at $137,000. Finally, New York State Common Retirement Fund lifted its stake in Skyward Specialty Insurance Group by 82.2% in the 3rd quarter. New York State Common Retirement Fund now owns 6,895 shares of the company’s stock worth $189,000 after acquiring an additional 3,110 shares in the last quarter. 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.