John A. Burkhart III Sells 4,832 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) insider John A. Burkhart III sold 4,832 shares of Skyward Specialty Insurance Group stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the transaction, the insider now directly owns 17,655 shares of the company's stock, valued at $886,987.20. This represents a 21.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD stock traded up $1.76 on Friday, hitting $49.11. 210,206 shares of the company's stock traded hands, compared to its average volume of 350,366. Skyward Specialty Insurance Group, Inc. has a one year low of $33.27 and a one year high of $55.62. The company's fifty day simple moving average is $47.31 and its 200 day simple moving average is $46.72. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 0.81 and a beta of 0.66.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $304.40 million for the quarter, compared to analyst estimates 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, sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

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Analyst Upgrades and Downgrades

SKWD has been the subject of several recent research reports. Wolfe Research reissued a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. TD Cowen initiated coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a "hold" rating and a $43.00 price objective for the company. Keefe, Bruyette & Woods increased 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 report on Friday, February 28th. Truist Financial increased 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 report on Thursday, February 27th. Finally, Piper Sandler reduced their target price 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. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $56.25.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of large investors have recently modified their holdings of the stock. Capital World Investors purchased a new position in Skyward Specialty Insurance Group in the fourth quarter worth about $41,182,000. American Century Companies Inc. raised its holdings in shares of Skyward Specialty Insurance Group by 54.0% during the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock valued at $79,744,000 after purchasing an additional 553,389 shares during the last quarter. WCM Investment Management LLC purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $18,084,000. Swedbank AB purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $15,164,000. Finally, Price T Rowe Associates Inc. MD grew its position in Skyward Specialty Insurance Group by 37.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company's stock valued at $52,995,000 after buying an additional 283,749 shares during the period. Institutional investors own 94.83% of the company's stock.

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.