Short Interest in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Drops By 20.8%

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 728,100 shares, a decrease of 20.8% from the February 13th total of 919,500 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily trading volume, of 364,300 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Ratings Changes

A number of brokerages have recently commented on SKWD. Truist Financial raised their price target on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, February 27th. JMP Securities reissued a “market outperform” rating and set a $60.00 target price on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Keefe, Bruyette & Woods upped their price target on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a “hold” rating and a $43.00 price objective on the stock. Finally, Wolfe Research reissued a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and a consensus price target of $56.25.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD opened at $49.09 on Wednesday. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 0.81 and a beta of 0.67. Skyward Specialty Insurance Group has a one year low of $33.27 and a one year high of $55.62. The company has a 50-day moving average of $47.54 and a two-hundred day moving average of $47.01.

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

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 6,010 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total value of $296,713.70. Following the completion of the transaction, the chief executive officer now owns 77,144 shares in the company, valued at approximately $3,808,599.28. This represents a 7.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas N. Schmitt sold 6,300 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the completion of the sale, the insider now owns 3,946 shares in the company, valued at $204,876.32. The trade was a 61.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,450 shares of company stock worth $1,369,342 in the last three months. 8.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of large investors have recently modified their holdings of the stock. Summit Investment Advisors Inc. lifted its stake 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 acquiring an additional 247 shares during the period. IHT Wealth Management LLC grew its position in shares of Skyward Specialty Insurance Group by 4.6% during the 3rd quarter. IHT Wealth Management LLC now owns 10,501 shares of the company’s stock worth $428,000 after buying an additional 464 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Skyward Specialty Insurance Group by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,129 shares of the company’s stock worth $1,068,000 after acquiring an additional 748 shares during the period. Sterling Capital Management LLC lifted its stake in shares of 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 purchasing an additional 809 shares during the period. Finally, Riverwater Partners LLC lifted its stake in shares of Skyward Specialty Insurance Group by 2.5% in the 4th quarter. Riverwater Partners LLC now owns 35,013 shares of the company’s stock valued at $1,770,000 after purchasing an additional 862 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.