Skyward Specialty Insurance Group (NASDAQ:SKWD) Shares Gap Down - Should You Sell?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $52.15, but opened at $50.74. Skyward Specialty Insurance Group shares last traded at $50.55, with a volume of 52,223 shares.

Analyst Upgrades and Downgrades

SKWD has been the topic of a number of research reports. TD Cowen assumed coverage on 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. Wolfe Research reiterated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Barclays lifted their target price on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a research note on Friday. Piper Sandler dropped 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 note on Thursday, February 6th. Finally, JMP Securities reissued 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. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.00.

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Skyward Specialty Insurance Group Price Performance

The stock has a market capitalization of $2.17 billion, a P/E ratio of 16.44, a PEG ratio of 0.81 and a beta of 0.63. The stock's fifty day moving average is $50.77 and its 200-day moving average is $48.68.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling

In other news, Director Gena L. Ashe sold 1,000 shares of the company'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 approximately $37,155.08. This represents a 57.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John A. Burkhart III sold 4,832 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total transaction of $242,759.68. Following the completion of the transaction, the insider now owns 17,655 shares of the company's stock, valued at $886,987.20. This trade represents a 21.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,132 shares of company stock valued at $620,476. 7.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the 1st quarter valued at $631,000. Harbor Capital Advisors Inc. increased its stake in shares of Skyward Specialty Insurance Group by 61,250.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 78,528 shares of the company's stock valued at $4,156,000 after acquiring an additional 78,400 shares during the last quarter. Reinhart Partners LLC. bought a new stake in shares of Skyward Specialty Insurance Group in the 1st quarter valued at about $49,979,000. Summit Global Investments acquired a new stake in shares of Skyward Specialty Insurance Group in the 1st quarter valued at approximately $1,392,000. Finally, GAMMA Investing LLC boosted its stake in Skyward Specialty Insurance Group by 6,374.4% during the 1st quarter. GAMMA Investing LLC now owns 17,675 shares of the company's stock worth $935,000 after acquiring an additional 17,402 shares during the last quarter. Institutional investors and hedge funds 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.