Skyward Specialty Insurance Group (NASDAQ:SKWD) Shares Gap Down – Time to Sell?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) shares gapped down before the market opened on Friday . The stock had previously closed at $52.15, but opened at $50.74. Skyward Specialty Insurance Group shares last traded at $50.55, with a volume of 52,223 shares.

Analyst Ratings Changes

SKWD has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their price target on shares of Skyward Specialty Insurance Group from $62.00 to $57.00 and set an “outperform” rating for the company in a research report on Wednesday. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 price target for the company. Barclays lifted their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Finally, Jefferies Financial Group lowered Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $62.00 to $59.00 in a research note on Friday. Four investment 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Skyward Specialty Insurance Group Stock Performance

The company has a 50 day simple moving average of $50.56 and a two-hundred day simple moving average of $48.50. The company has a market cap of $2.12 billion, a PE ratio of 16.02, a PEG ratio of 0.81 and a beta of 0.63.

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

Insider Buying and Selling at Skyward Specialty Insurance Group

In related news, insider John A. Burkhart III sold 4,832 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the completion of the transaction, the insider now owns 17,655 shares in the company, valued at $886,987.20. This trade represents a 21.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas N. Schmitt sold 6,300 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $51.92, for a total value of $327,096.00. Following the completion of the transaction, the insider now directly owns 3,946 shares in the company, valued at $204,876.32. The trade was a 61.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,132 shares of company stock worth $620,476 over the last 90 days. Insiders own 8.01% of the company’s stock.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in SKWD. Vanguard Group Inc. grew its position in shares of Skyward Specialty Insurance Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock valued at $114,990,000 after purchasing an additional 16,572 shares during the period. American Century Companies Inc. increased its position in shares of Skyward Specialty Insurance Group by 54.0% during the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock worth $79,744,000 after purchasing an additional 553,389 shares during the last quarter. Invesco Ltd. grew its position in shares of Skyward Specialty Insurance Group by 9.1% in the 4th quarter. Invesco Ltd. now owns 1,217,329 shares of the company’s stock valued at $61,524,000 after acquiring an additional 102,042 shares during the period. Franklin Resources Inc. boosted its stake in shares of Skyward Specialty Insurance Group by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company’s stock worth $58,860,000 after acquiring an additional 47,363 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Skyward Specialty Insurance Group by 37.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company’s stock valued at $52,995,000 after purchasing an additional 283,749 shares during the period. 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.