Thomas N. Schmitt Sells 6,300 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) insider Thomas N. Schmitt sold 6,300 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $51.92, for a total transaction of $327,096.00. Following the completion of the sale, the insider now directly owns 3,946 shares in the company, valued at $204,876.32. This represents a 61.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Skyward Specialty Insurance Group Price Performance

SKWD stock opened at $52.09 on Thursday. The stock has a market capitalization of $2.09 billion, a P/E ratio of 15.88, a P/E/G ratio of 0.81 and a beta of 0.83. Skyward Specialty Insurance Group, Inc. has a 1-year low of $33.27 and a 1-year high of $55.62. The business has a fifty day moving average price of $47.58 and a 200-day moving average price of $46.39.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. grew its position in Skyward Specialty Insurance Group by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock worth $196,000 after purchasing an additional 247 shares during the period. Chartwell Investment Partners LLC boosted its stake in shares of Skyward Specialty Insurance Group by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 38,037 shares of the company’s stock worth $1,549,000 after buying an additional 306 shares during the last quarter. IHT Wealth Management LLC grew its holdings in shares of Skyward Specialty Insurance Group by 4.6% in the third quarter. IHT Wealth Management LLC now owns 10,501 shares of the company’s stock worth $428,000 after acquiring an additional 464 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Skyward Specialty Insurance Group by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,129 shares of the company’s stock valued at $1,068,000 after acquiring an additional 748 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in Skyward Specialty Insurance Group by 756.1% in the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after acquiring an additional 809 shares during the period. Institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

SKWD has been the topic of a number of recent research reports. Barclays upped their price objective 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. Piper Sandler cut their price target on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. TD Cowen began coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a “hold” rating and a $43.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Finally, Truist Financial raised their price target on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Skyward Specialty Insurance Group has an average rating of “Moderate Buy” and a consensus price target of $55.00.

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.