Skyward Specialty Insurance Group (NASDAQ:SKWD) Trading Down 4.2% – Should You Sell?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) shares traded down 4.2% on Thursday . The stock traded as low as $42.10 and last traded at $41.99. 52,273 shares traded hands during trading, a decline of 83% from the average session volume of 312,041 shares. The stock had previously closed at $43.83.

Wall Street Analyst Weigh In

SKWD has been the topic of several analyst reports. Jefferies Financial Group increased 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 note on Wednesday, October 9th. Barclays upped their price target on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 target price for the company. Raymond James increased 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, JMP Securities upped their price objective on shares of 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. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.22.

Skyward Specialty Insurance Group Stock Performance

The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 0.73 and a beta of 0.89. The business has a 50-day simple moving average of $49.78 and a two-hundred day simple moving average of $44.16.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The company had revenue of $300.89 million for the quarter, compared to the consensus estimate of $292.43 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James Charles Hays sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the transaction, the director now owns 747,261 shares of the company’s stock, valued at $40,352,094. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas N. Schmitt sold 546 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $46.85, for a total transaction of $25,580.10. Following the completion of the sale, the insider now owns 10,246 shares of the company’s stock, valued at approximately $480,025.10. This represents a 5.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,318 shares of company stock valued at $2,098,866 in the last three months. Insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds have recently modified their holdings of the company. Swedbank AB bought a new position in Skyward Specialty Insurance Group in the 4th quarter valued at $15,164,000. Kirr Marbach & Co. LLC IN bought a new stake in Skyward Specialty Insurance Group in the fourth quarter worth about $252,000. Ellsworth Advisors LLC purchased a new position in Skyward Specialty Insurance Group in the fourth quarter valued at about $676,000. ORG Wealth Partners LLC bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter valued at approximately $61,000. Finally, Nordea Investment Management AB increased its stake in shares of Skyward Specialty Insurance Group by 2.4% during the 4th quarter. Nordea Investment Management AB now owns 64,321 shares of the company’s stock worth $3,248,000 after purchasing an additional 1,523 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.

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.