Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Insider Sells 4,832 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) insider John A. Burkhart III sold 4,832 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the completion of the transaction, the insider now directly owns 17,655 shares in the company, valued at $886,987.20. The trade was a 21.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Skyward Specialty Insurance Group Trading Up 2.5 %

SKWD opened at $48.46 on Wednesday. The stock has a market cap of $1.94 billion, a PE ratio of 14.77, a P/E/G ratio of 0.81 and a beta of 0.66. Skyward Specialty Insurance Group, Inc. has a 1 year low of $33.27 and a 1 year high of $55.62. The stock’s 50 day simple moving average is $47.39 and its 200-day simple moving average is $46.71.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $304.40 million for the quarter, compared to analysts’ expectations 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 forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SKWD shares. Keefe, Bruyette & Woods raised their price objective on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Wolfe Research reissued a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Barclays lifted their price target on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, TD Cowen started coverage on Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a “hold” rating and a $43.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Institutional Trading of Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Summit Investment Advisors Inc. increased its position in shares of Skyward Specialty Insurance Group by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after purchasing an additional 247 shares during the period. Chartwell Investment Partners LLC increased its position in shares of Skyward Specialty Insurance Group by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 38,037 shares of the company’s stock valued at $1,549,000 after purchasing an additional 306 shares during the period. IHT Wealth Management LLC increased its position in shares of Skyward Specialty Insurance Group by 4.6% during the third quarter. IHT Wealth Management LLC now owns 10,501 shares of the company’s stock valued at $428,000 after purchasing an additional 464 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Skyward Specialty Insurance Group by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,129 shares of the company’s stock valued at $1,068,000 after buying an additional 748 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake in Skyward Specialty Insurance Group by 756.1% in the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after buying an additional 809 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

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.