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

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) was the recipient of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 728,100 shares, a drop of 20.8% from the February 13th total of 919,500 shares. Based on an average daily volume of 364,300 shares, the short-interest ratio is presently 2.0 days. Approximately 2.1% of the shares of the stock are sold short.

Skyward Specialty Insurance Group Stock Down 0.2 %

Shares of NASDAQ SKWD traded down $0.10 on Friday, hitting $49.75. The company had a trading volume of 470,333 shares, compared to its average volume of 350,516. Skyward Specialty Insurance Group has a 12-month low of $33.27 and a 12-month high of $55.62. The business has a 50 day moving average of $47.71 and a two-hundred day moving average of $47.05. The firm has a market capitalization of $2.00 billion, a P/E ratio of 15.17, a PEG ratio of 0.81 and a beta of 0.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued 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 net margin of 12.24% and a return on equity of 16.39%. The firm had revenue of $304.40 million for the quarter, compared to analyst estimates of $295.56 million. On average, sell-side analysts anticipate that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current year.

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Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Piper Sandler decreased their price objective 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. Truist Financial upped their target price on 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. Keefe, Bruyette & Woods raised 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. JMP Securities reiterated a "market outperform" rating and set a $60.00 price objective on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Finally, TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a "hold" rating and a $43.00 target price on the stock. Three investment 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $56.25.

Insider Activity at Skyward Specialty Insurance Group

In related news, CEO Andrew S. Robinson sold 6,010 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 directly owns 77,144 shares of the company's stock, valued at $3,808,599.28. This trade represents a 7.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas N. Schmitt sold 546 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $46.85, for a total value of $25,580.10. Following the sale, the insider now owns 10,246 shares in the company, valued at approximately $480,025.10. The trade was a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,450 shares of company stock worth $1,369,342 over the last 90 days. Company insiders own 8.01% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its stake in Skyward Specialty Insurance Group by 756.1% during the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock valued at $46,000 after buying an additional 809 shares in the last quarter. Quarry LP raised its position in shares of Skyward Specialty Insurance Group by 176.9% during the 3rd quarter. Quarry LP now owns 1,376 shares of the company's stock valued at $56,000 after acquiring an additional 879 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Skyward Specialty Insurance Group during the fourth quarter worth $61,000. Summit Investment Advisors Inc. boosted its holdings in Skyward Specialty Insurance Group by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock worth $196,000 after purchasing an additional 247 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in Skyward Specialty Insurance Group during the fourth quarter valued at $219,000. 94.83% of the stock is currently owned by institutional investors.

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.