Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Insider Thomas N. Schmitt Sells 6,300 Shares

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 shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the transaction, the insider now directly owns 3,946 shares of the company’s stock, valued at $204,876.32. This represents a 61.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Skyward Specialty Insurance Group Trading Down 4.8 %

Shares of Skyward Specialty Insurance Group stock opened at $49.59 on Friday. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 0.81 and a beta of 0.83. Skyward Specialty Insurance Group, Inc. has a 1-year low of $33.27 and a 1-year high of $55.62. The firm’s 50-day moving average price is $47.54 and its two-hundred day moving average price is $46.41.

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

Institutional Trading of Skyward Specialty Insurance Group

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in Skyward Specialty Insurance Group by 49.8% during the third quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock worth $4,240,000 after buying an additional 34,612 shares during the last quarter. Barclays PLC lifted its position in shares of Skyward Specialty Insurance Group by 277.7% during the third quarter. Barclays PLC now owns 64,032 shares of the company’s stock worth $2,608,000 after purchasing an additional 47,081 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Skyward Specialty Insurance Group by 32.9% during the third quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company’s stock worth $3,515,000 after purchasing an additional 21,346 shares in the last quarter. Navellier & Associates Inc. acquired a new position in shares of Skyward Specialty Insurance Group during the third quarter worth approximately $1,051,000. Finally, State Street Corp lifted its position in shares of Skyward Specialty Insurance Group by 10.8% during the third quarter. State Street Corp now owns 844,233 shares of the company’s stock worth $34,386,000 after purchasing an additional 82,328 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Piper Sandler cut 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 report on Thursday, February 6th. Keefe, Bruyette & Woods upped their target price on shares of 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. Truist Financial upped their target price on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, JMP Securities reissued a “market outperform” rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on 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.