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 value of $327,096.00. Following the completion of the transaction, the insider now directly owns 3,946 shares in the company, valued at approximately $204,876.32. The trade was a 61.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $52.79 on Wednesday. The firm’s 50-day moving average is $47.56 and its 200-day moving average is $46.35. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 0.81 and a beta of 0.83. Skyward Specialty Insurance Group, Inc. has a 52-week low of $33.27 and a 52-week high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released 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 for the quarter, compared to the consensus estimate of $295.56 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. Equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Institutional Trading of Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC boosted its stake in Skyward Specialty Insurance Group by 756.1% during the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock worth $46,000 after buying an additional 809 shares in the last quarter. Quarry LP lifted its holdings in shares of Skyward Specialty Insurance Group by 176.9% during the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after acquiring an additional 879 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter valued at about $61,000. Summit Investment Advisors Inc. boosted its position in shares of Skyward Specialty Insurance Group by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after acquiring an additional 247 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Skyward Specialty Insurance Group in the fourth quarter valued at about $219,000. 94.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial increased their price objective on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Barclays increased their price target 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. Piper Sandler reduced their price objective on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They set a “hold” rating and a $43.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised their target price on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

About Skyward Specialty Insurance Group

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.