Thomas N. Schmitt Sells 546 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) insider Thomas N. Schmitt sold 546 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is available at this link.

Skyward Specialty Insurance Group Stock Up 1.0 %

SKWD opened at $45.52 on Wednesday. The company has a market cap of $1.83 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89. The firm’s 50-day moving average price is $50.25 and its 200-day moving average price is $43.56. Skyward Specialty Insurance Group, Inc. has a 52-week low of $29.40 and a 52-week high of $55.62.

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

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds have recently made changes to their positions in SKWD. Arcadia Investment Management Corp MI acquired a new stake in Skyward Specialty Insurance Group during the 3rd quarter worth about $41,000. Amalgamated Bank lifted its holdings in shares of Skyward Specialty Insurance Group by 27.7% during the second quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after purchasing an additional 279 shares during the period. Quarry LP lifted its holdings in shares of Skyward Specialty Insurance Group by 176.9% during the third quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after purchasing an additional 879 shares during the period. CWM LLC increased its holdings in Skyward Specialty Insurance Group by 3,103.1% in the 3rd quarter. CWM LLC now owns 4,132 shares of the company’s stock worth $168,000 after buying an additional 4,003 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Skyward Specialty Insurance Group during the 2nd quarter worth approximately $160,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SKWD has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective 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. Raymond James boosted their price target on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 5th. Barclays upped their price objective 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. Finally, JMP Securities lifted their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and an average price target 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.