Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CEO Andrew S. Robinson Sells 262 Shares

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CEO Andrew S. Robinson sold 262 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $45.53, for a total transaction of $11,928.86. Following the sale, the chief executive officer now directly owns 52,355 shares of the company’s stock, valued at $2,383,723.15. This represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Skyward Specialty Insurance Group Stock Down 6.8 %

Shares of Skyward Specialty Insurance Group stock opened at $42.51 on Friday. The company has a market cap of $1.70 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89. Skyward Specialty Insurance Group, Inc. has a 52 week low of $29.40 and a 52 week high of $55.62. The business has a 50 day moving average price of $50.27 and a 200-day moving average price of $43.64.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Jennison Associates LLC boosted its stake in Skyward Specialty Insurance Group by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock worth $52,786,000 after purchasing an additional 12,484 shares during the period. Driehaus Capital Management LLC boosted its position in shares of Skyward Specialty Insurance Group by 2.8% in the second quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company’s stock valued at $45,528,000 after acquiring an additional 34,286 shares during the period. Franklin Resources Inc. grew its stake in Skyward Specialty Insurance Group by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock valued at $45,506,000 after acquiring an additional 158,679 shares in the last quarter. American Century Companies Inc. increased its holdings in Skyward Specialty Insurance Group by 9.2% during the 2nd quarter. American Century Companies Inc. now owns 919,548 shares of the company’s stock worth $33,269,000 after acquiring an additional 77,354 shares during the period. Finally, Emerald Advisers LLC lifted its stake in Skyward Specialty Insurance Group by 3.4% in the 3rd quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock worth $35,622,000 after purchasing an additional 28,618 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SKWD. Jefferies Financial Group upped their target price on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Raymond James boosted their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 5th. JMP Securities lifted their price objective on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays lifted 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 research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company 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.