Skyward Specialty Insurance Group (NASDAQ:SKWD) Sees Large Volume Increase - Still a Buy?

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) saw unusually-high trading volume on Monday . Approximately 1,013,460 shares were traded during mid-day trading, an increase of 167% from the previous session's volume of 379,114 shares.The stock last traded at $45.59 and had previously closed at $44.28.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SKWD. Piper Sandler cut their price objective on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating for the company in a report on Thursday. JMP Securities upped their price target on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a "market outperform" rating in a research report on Wednesday, October 30th. Barclays raised their price objective on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods upped their target price on Skyward Specialty Insurance Group from $59.00 to $60.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Raymond James boosted their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a "strong-buy" rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $50.67.

Skyward Specialty Insurance Group Trading Down 1.7 %

The stock has a fifty day simple moving average of $48.07 and a 200-day simple moving average of $44.72. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 0.73 and a beta of 0.84.

Insider Activity

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 546 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $46.85, for a total transaction of $25,580.10. Following the sale, the insider now directly owns 10,246 shares of the company's stock, valued at approximately $480,025.10. The trade was a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Charles Hays sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total value of $1,350,000.00. Following the completion of the sale, the director now owns 747,261 shares in the company, valued at approximately $40,352,094. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,318 shares of company stock valued at $2,098,866. 8.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Chartwell Investment Partners LLC increased its stake in shares of Skyward Specialty Insurance Group by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 38,037 shares of the company's stock valued at $1,549,000 after buying an additional 306 shares in the last quarter. IHT Wealth Management LLC grew its holdings in 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 acquiring an additional 464 shares during the last quarter. Quarry LP increased its position in Skyward Specialty Insurance Group by 176.9% in 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. Arcadia Investment Management Corp MI bought a new position in shares of Skyward Specialty Insurance Group in the third quarter worth about $41,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Skyward Specialty Insurance Group by 0.3% during the third quarter. The Manufacturers Life Insurance Company now owns 336,882 shares of the company's stock worth $13,721,000 after purchasing an additional 1,032 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.