Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Insider Sells $242,759.68 in Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) insider John A. Burkhart III sold 4,832 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total transaction of $242,759.68. Following the transaction, the insider now directly owns 17,655 shares in the company, valued at approximately $886,987.20. The trade was a 21.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD opened at $48.47 on Thursday. The firm has a market capitalization of $1.95 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 0.81 and a beta of 0.66. Skyward Specialty Insurance Group, Inc. has a 1-year low of $33.27 and a 1-year high of $55.62. The company’s fifty day moving average price is $47.35 and its 200-day moving average price is $46.72.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $304.40 million for the quarter, compared to analyst estimates of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. As a group, research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays lifted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Piper Sandler cut their price target on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC lifted its position in Skyward Specialty Insurance Group by 756.1% during the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after purchasing an additional 809 shares during the period. ORG Wealth Partners LLC acquired a new position in Skyward Specialty Insurance Group during the fourth quarter valued at $61,000. Quarry LP lifted its position in Skyward Specialty Insurance Group by 176.9% during the third quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after purchasing an additional 879 shares during the period. Summit Investment Advisors Inc. lifted its position in Skyward Specialty Insurance Group by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after purchasing an additional 247 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in Skyward Specialty Insurance Group during the fourth quarter valued at $219,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

About Skyward Specialty Insurance Group

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.