Short Interest in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Grows By 30.1%

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) was the recipient of a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 1,612,869 shares, an increase of 30.1% from the January 29th total of 1,239,498 shares. Based on an average daily trading volume, of 579,848 shares, the days-to-cover ratio is presently 2.8 days. Currently, 4.3% of the shares of the stock are short sold. Currently, 4.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 579,848 shares, the days-to-cover ratio is presently 2.8 days.

Skyward Specialty Insurance Group Trading Up 4.3%

Skyward Specialty Insurance Group stock traded up $2.01 during trading on Monday, hitting $48.48. 192,076 shares of the company were exchanged, compared to its average volume of 531,356. The business’s 50 day moving average is $46.80 and its 200 day moving average is $47.46. Skyward Specialty Insurance Group has a 52 week low of $42.45 and a 52 week high of $65.05. The company has a market capitalization of $1.96 billion, a P/E ratio of 11.94 and a beta of 0.54.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Monday, February 23rd. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.96 by $0.21. The firm had revenue of $385.59 million during the quarter, compared to analyst estimates of $380.86 million. Skyward Specialty Insurance Group had a net margin of 12.00% and a return on equity of 18.51%. During the same quarter last year, the business posted $0.80 EPS. Equities analysts expect that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Insider Activity at Skyward Specialty Insurance Group

In other news, insider Sandip A. Kapadia sold 5,030 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $50.01, for a total transaction of $251,550.30. Following the completion of the sale, the insider owned 8,059 shares of the company’s stock, valued at approximately $403,030.59. This represents a 38.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew S. Robinson acquired 22,100 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average cost of $46.76 per share, for a total transaction of $1,033,396.00. Following the completion of the purchase, the chief executive officer directly owned 167,674 shares of the company’s stock, valued at $7,840,436.24. The trade was a 15.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 7.86% of the stock is currently owned by insiders.

Institutional Trading of Skyward Specialty Insurance Group

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. increased its holdings in Skyward Specialty Insurance Group by 5.1% in the 4th quarter. Invesco Ltd. now owns 1,451,648 shares of the company’s stock worth $74,194,000 after acquiring an additional 70,255 shares during the last quarter. Vident Advisory LLC purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter worth approximately $257,000. VARCOV Co. bought a new stake in Skyward Specialty Insurance Group during the fourth quarter valued at $524,000. Susquehanna Fundamental Investments LLC increased its position in shares of Skyward Specialty Insurance Group by 370.3% in the fourth quarter. Susquehanna Fundamental Investments LLC now owns 40,213 shares of the company’s stock worth $2,055,000 after purchasing an additional 31,663 shares during the last quarter. Finally, Man Group plc purchased a new position in Skyward Specialty Insurance Group in the fourth quarter worth $1,171,000. 94.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SKWD has been the topic of a number of research reports. Susquehanna set a $80.00 target price on shares of Skyward Specialty Insurance Group in a research note on Friday, January 16th. Piper Sandler reduced their price objective on shares of Skyward Specialty Insurance Group from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday. Weiss Ratings raised shares of Skyward Specialty Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Citizens Jmp set a $80.00 price target on shares of Skyward Specialty Insurance Group in a research report on Thursday, December 4th. Finally, Zacks Research downgraded Skyward Specialty Insurance Group from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and a consensus target price of $65.80.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc (NASDAQ: SKWD) is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.