Skyward Specialty Insurance Group (NASDAQ:SKWD) Sees Unusually-High Trading Volume

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) shares saw an uptick in trading volume on Thursday . 321,149 shares changed hands during mid-day trading, a decline of 10% from the previous session’s volume of 357,299 shares.The stock last traded at $41.14 and had previously closed at $41.10.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SKWD shares. Oppenheimer started coverage on shares of Skyward Specialty Insurance Group in a report on Friday, July 12th. They set a “market perform” rating for the company. William Blair initiated coverage on Skyward Specialty Insurance Group in a research note on Monday, August 19th. They set an “outperform” rating for the company. Truist Financial restated a “buy” rating and issued a $49.00 target price (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research note on Wednesday, August 7th. Barclays assumed coverage on Skyward Specialty Insurance Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $44.00 price target for the company. Finally, Keefe, Bruyette & Woods upped their price objective on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.78.

Skyward Specialty Insurance Group Trading Up 2.1 %

The company has a market capitalization of $1.68 billion, a PE ratio of 15.11, a PEG ratio of 0.77 and a beta of 0.60. The company has a fifty day simple moving average of $39.35 and a 200-day simple moving average of $37.49.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.15. The business had revenue of $279.94 million during the quarter, compared to analysts’ expectations of $282.70 million. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. During the same quarter in the prior year, the company posted $0.42 EPS. On average, equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.96 EPS for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In other news, Director Katharine Terry sold 1,653 shares of Skyward Specialty Insurance Group stock in a transaction on Friday, August 9th. The stock was sold at an average price of $36.87, for a total value of $60,946.11. Following the completion of the sale, the director now directly owns 4,001 shares of the company’s stock, valued at $147,516.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank raised its stake in Skyward Specialty Insurance Group by 27.7% in the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after buying an additional 279 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Skyward Specialty Insurance Group by 24.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock worth $111,000 after acquiring an additional 579 shares in the last quarter. Arizona State Retirement System lifted its stake in Skyward Specialty Insurance Group by 24.2% during the second quarter. Arizona State Retirement System now owns 9,516 shares of the company’s stock worth $344,000 after purchasing an additional 1,854 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Skyward Specialty Insurance Group by 67.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock valued at $204,000 after purchasing an additional 2,270 shares in the last quarter. Finally, Diversified Trust Co increased its stake in Skyward Specialty Insurance Group by 26.3% in the first quarter. Diversified Trust Co now owns 11,775 shares of the company’s stock valued at $441,000 after purchasing an additional 2,450 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

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.