Gena L. Ashe Sells 1,000 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) Director Gena L. Ashe sold 1,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.62, for a total value of $50,620.00. Following the completion of the sale, the director now directly owns 734 shares of the company's stock, valued at approximately $37,155.08. This represents a 57.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Skyward Specialty Insurance Group Stock Up 3.7 %

Shares of SKWD stock traded up $1.76 during trading hours on Friday, hitting $49.11. 211,751 shares of the company's stock were exchanged, compared to its average volume of 406,983. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $33.27 and a fifty-two week high of $55.62. The firm has a market cap of $1.97 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.81 and a beta of 0.66. The firm has a 50 day moving average of $47.31 and a two-hundred day moving average of $46.72.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 12.24% and a return on equity of 16.39%. On average, equities analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in SKWD. Vanguard Group Inc. raised its stake in Skyward Specialty Insurance Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company's stock valued at $114,990,000 after purchasing an additional 16,572 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Skyward Specialty Insurance Group by 54.0% in the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock worth $79,744,000 after buying an additional 553,389 shares in the last quarter. Jennison Associates LLC boosted its position in Skyward Specialty Insurance Group by 1.0% during the third quarter. Jennison Associates LLC now owns 1,296,001 shares of the company's stock worth $52,786,000 after acquiring an additional 12,484 shares during the last quarter. Invesco Ltd. grew its stake in Skyward Specialty Insurance Group by 9.1% during the 4th quarter. Invesco Ltd. now owns 1,217,329 shares of the company's stock valued at $61,524,000 after acquiring an additional 102,042 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Skyward Specialty Insurance Group by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company's stock valued at $58,860,000 after acquiring an additional 47,363 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on SKWD shares. Piper Sandler decreased 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 for the company. Keefe, Bruyette & Woods increased their price target on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Truist Financial boosted their price objective 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. Finally, Barclays raised Skyward Specialty Insurance Group from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $53.00 to $63.00 in a report on Friday. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of "Moderate Buy" and an average target price of $56.25.

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.