Skyward Specialty Insurance Group (NASDAQ:SKWD) Hits New 52-Week High at $39.29

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) hit a new 52-week high during trading on Tuesday . The company traded as high as $39.29 and last traded at $39.15, with a volume of 118141 shares trading hands. The stock had previously closed at $37.80.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Oppenheimer assumed coverage on shares of Skyward Specialty Insurance Group in a research note on Friday. They issued a “market perform” rating on the stock. Piper Sandler lifted their price target on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Monday, April 1st. JMP Securities lifted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $47.00 and gave the company a “market outperform” rating in a report on Monday, July 1st. Keefe, Bruyette & Woods lifted their price target on shares of Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Finally, Truist Financial lifted their price target on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $42.75.

Skyward Specialty Insurance Group Stock Performance

The business’s 50 day simple moving average is $36.20 and its 200-day simple moving average is $35.15. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 13.90 and a beta of 0.63.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The company had revenue of $264.97 million during the quarter, compared to analyst estimates of $251.66 million. Skyward Specialty Insurance Group had a net margin of 11.16% and a return on equity of 15.98%. During the same period in the prior year, the business posted $0.42 EPS. As a group, sell-side analysts expect that Skyward Specialty Insurance Group, Inc. will post 2.83 EPS for the current year.

Insider Transactions at Skyward Specialty Insurance Group

In other news, CEO Andrew S. Robinson sold 23,533 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $37.21, for a total value of $875,662.93. Following the completion of the sale, the chief executive officer now directly owns 83,154 shares of the company’s stock, valued at approximately $3,094,160.34. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder Corp Westaim sold 5,060,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $36.50, for a total value of $184,690,000.00. Following the sale, the insider now directly owns 1,919,639 shares in the company, valued at approximately $70,066,823.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew S. Robinson sold 23,533 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $37.21, for a total transaction of $875,662.93. Following the completion of the sale, the chief executive officer now owns 83,154 shares in the company, valued at $3,094,160.34. The disclosure for this sale can be found here. In the last three months, insiders sold 5,095,277 shares of company stock valued at $186,000,945. Company insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital International Investors lifted its position in shares of Skyward Specialty Insurance Group by 48.0% in the 1st quarter. Capital International Investors now owns 2,212,423 shares of the company’s stock valued at $82,767,000 after acquiring an additional 717,972 shares in the last quarter. Vanguard Group Inc. grew its position in Skyward Specialty Insurance Group by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock worth $76,458,000 after purchasing an additional 207,744 shares in the last quarter. Champlain Investment Partners LLC grew its position in Skyward Specialty Insurance Group by 0.3% during the 1st quarter. Champlain Investment Partners LLC now owns 1,405,980 shares of the company’s stock worth $52,598,000 after purchasing an additional 4,510 shares in the last quarter. American Century Companies Inc. grew its position in Skyward Specialty Insurance Group by 10.3% during the 3rd quarter. American Century Companies Inc. now owns 587,687 shares of the company’s stock worth $16,079,000 after purchasing an additional 54,945 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in Skyward Specialty Insurance Group during the 4th quarter worth approximately $18,982,000. 94.83% of the stock is currently owned by institutional investors.

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.