Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CEO Sells $296,713.70 in Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CEO Andrew S. Robinson sold 6,010 shares of Skyward Specialty Insurance Group stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total transaction of $296,713.70. Following the sale, the chief executive officer now owns 77,144 shares in the company, valued at approximately $3,808,599.28. This represents a 7.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ:SKWD opened at $45.61 on Thursday. The company has a market capitalization of $1.83 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89. The stock has a fifty day moving average of $50.27 and a 200-day moving average of $43.58. Skyward Specialty Insurance Group, Inc. has a one year low of $29.40 and a one year high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly 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 business had revenue of $300.89 million during the quarter, compared to analyst estimates 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 company posted $0.65 EPS. As a group, research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JMP Securities boosted their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Barclays upped their target price on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Raymond James lifted their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.78.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Jennison Associates LLC lifted its position in shares of Skyward Specialty Insurance Group by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock valued at $52,786,000 after acquiring an additional 12,484 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 2.8% in the second quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company’s stock valued at $45,528,000 after purchasing an additional 34,286 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Skyward Specialty Insurance Group by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock worth $45,506,000 after buying an additional 158,679 shares during the period. American Century Companies Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 9.2% during the second quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock valued at $33,269,000 after buying an additional 77,354 shares in the last quarter. Finally, Emerald Advisers LLC raised its position in Skyward Specialty Insurance Group by 3.4% during the third quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock valued at $35,622,000 after buying an additional 28,618 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

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.