Kirby Hill Sells 8,500 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) insider Kirby Hill sold 8,500 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $37.02, for a total transaction of $314,670.00. Following the sale, the insider now owns 13,946 shares in the company, valued at approximately $516,280.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Skyward Specialty Insurance Group Price Performance

Skyward Specialty Insurance Group stock traded down $0.92 during trading hours on Monday, hitting $36.44. The company had a trading volume of 396,159 shares, compared to its average volume of 349,267. The firm has a market capitalization of $1.46 billion, a P/E ratio of 13.40 and a beta of 0.68. The firm’s fifty day moving average is $36.36 and its 200-day moving average is $33.69. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $21.93 and a fifty-two week high of $38.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 15.98%. The company had revenue of $264.97 million for the quarter, compared to analyst estimates of $251.66 million. During the same quarter in the prior year, the business posted $0.42 EPS. Analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 2.74 earnings per share for the current year.

Institutional Trading of Skyward Specialty Insurance Group

A number of hedge funds have recently bought and sold shares of the stock. Amalgamated Bank lifted its holdings in 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 purchasing an additional 1,095 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Skyward Specialty Insurance Group by 24.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock valued at $111,000 after purchasing an additional 579 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 valued at $114,000 after purchasing an additional 1,186 shares during the last quarter. Adalta Capital Management LLC acquired a new stake in Skyward Specialty Insurance Group in the 3rd quarter valued at about $137,000. Finally, International Assets Investment Management LLC acquired a new stake in Skyward Specialty Insurance Group in the 4th quarter valued at about $161,000. 94.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SKWD has been the topic of a number of analyst reports. Piper Sandler raised their target price on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Truist Financial boosted their price objective on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. JMP Securities boosted their price objective on shares of Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the company a “market outperform” rating in a research note on Thursday, May 2nd. Finally, BMO Capital Markets boosted their price objective on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $42.50.

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.