Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Short Interest Update

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 637,800 shares, a drop of 12.4% from the February 28th total of 728,100 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average trading volume of 391,200 shares, the days-to-cover ratio is presently 1.6 days.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 6,300 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $51.92, for a total value of $327,096.00. Following the completion of the transaction, the insider now directly owns 3,946 shares of the company's stock, valued at approximately $204,876.32. This trade represents a 61.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gena L. Ashe sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total value of $50,620.00. Following the sale, the director now directly owns 734 shares in the company, valued at $37,155.08. This trade represents a 57.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,463 shares of company stock valued at $777,441. 8.01% of the stock is owned by company insiders.

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Institutional Trading of Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in shares of Skyward Specialty Insurance Group by 277.7% during the 3rd quarter. Barclays PLC now owns 64,032 shares of the company's stock worth $2,608,000 after acquiring an additional 47,081 shares during the period. Principal Financial Group Inc. raised 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 purchasing an additional 34,612 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Skyward Specialty Insurance Group by 32.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company's stock valued at $3,515,000 after purchasing an additional 21,346 shares during the last quarter. State Street Corp boosted its holdings in shares of Skyward Specialty Insurance Group by 10.8% in the 3rd quarter. State Street Corp now owns 844,233 shares of the company's stock valued at $34,386,000 after purchasing an additional 82,328 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Skyward Specialty Insurance Group during the 3rd quarter valued at $394,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Skyward Specialty Insurance Group Stock Performance

NASDAQ SKWD traded down $0.62 during mid-day trading on Thursday, reaching $54.02. 572,269 shares of the stock were exchanged, compared to its average volume of 369,897. The stock has a market capitalization of $2.18 billion, a PE ratio of 16.47, a PEG ratio of 0.81 and a beta of 0.67. Skyward Specialty Insurance Group has a 1-year low of $33.27 and a 1-year high of $55.62. The business's fifty day simple moving average is $49.29 and its 200 day simple moving average is $47.89.

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, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $304.40 million for the quarter, compared to analysts' expectations of $295.56 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. On average, analysts anticipate that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays upgraded Skyward Specialty Insurance Group from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $53.00 to $63.00 in a research report on Friday, March 14th. Wolfe Research reiterated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. JMP Securities restated a "market outperform" rating and set a $60.00 target price on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. TD Cowen initiated coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a "hold" rating and a $43.00 price target on the stock. Finally, Piper Sandler lowered their price target on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating on the stock 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 given a strong buy rating to the company. Based on data from MarketBeat, Skyward Specialty Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.25.

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.