Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CFO Sells 1,630 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CFO Mark W. Haushill sold 1,630 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $49.06, for a total value of $79,967.80. Following the sale, the chief financial officer now directly owns 176,971 shares in the company, valued at approximately $8,682,197.26. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Skyward Specialty Insurance Group Stock Down 3.0 %

Shares of NASDAQ SKWD traded down $1.38 during trading on Monday, hitting $45.09. 565,125 shares of the company traded hands, compared to its average volume of 409,575. The firm has a market capitalization of $1.81 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.95 and a beta of 0.89. The company has a 50-day moving average price of $50.23 and a 200-day moving average price of $43.49. Skyward Specialty Insurance Group, Inc. has a 1 year low of $29.40 and a 1 year high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. The firm had revenue of $300.89 million for the quarter, compared to analysts’ expectations of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same quarter last year, the firm earned $0.65 earnings per share. Research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current fiscal year.

Institutional Trading of Skyward Specialty Insurance Group

A number of institutional investors have recently modified their holdings of the company. Nordea Investment Management AB raised its holdings in Skyward Specialty Insurance Group by 2.4% in the fourth quarter. Nordea Investment Management AB now owns 64,321 shares of the company’s stock valued at $3,248,000 after buying an additional 1,523 shares during the period. JPMorgan Chase & Co. increased its position in shares of Skyward Specialty Insurance Group by 32.9% in the third quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company’s stock worth $3,515,000 after acquiring an additional 21,346 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Skyward Specialty Insurance Group by 49.8% in the 3rd quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock valued at $4,240,000 after acquiring an additional 34,612 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Skyward Specialty Insurance Group by 16.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock valued at $45,506,000 after acquiring an additional 158,679 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Skyward Specialty Insurance Group by 277.7% during the 3rd quarter. Barclays PLC now owns 64,032 shares of the company’s stock valued at $2,608,000 after acquiring an additional 47,081 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SKWD shares. JMP Securities raised their price target on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Barclays raised their target price on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday. Raymond James boosted their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group increased their price target on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.78.

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.