Skyward Specialty Insurance Group (NASDAQ:SKWD) Trading Down 4.2% - Here's Why

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report)'s stock price fell 4.2% on Friday . The stock traded as low as $46.95 and last traded at $46.98. 141,941 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 156,734 shares. The stock had previously closed at $49.05.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SKWD. JMP Securities boosted their price target on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a "market outperform" rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price target on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Raymond James lifted their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, November 5th. Finally, Barclays upped their target price on Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Three 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $46.89.

Skyward Specialty Insurance Group Trading Down 5.3 %

The business has a fifty day moving average price of $50.25 and a two-hundred day moving average price of $43.30. The firm has a market capitalization of $1.86 billion, a PE ratio of 14.17, a PEG ratio of 0.95 and a beta of 0.89.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.06. The company had revenue of $300.89 million during the quarter, compared to analyst estimates of $292.43 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same quarter last year, the firm posted $0.65 earnings per share. On average, equities analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Director James Charles Hays sold 25,000 shares of the business's stock in a transaction 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 transaction, the director now owns 747,261 shares in the company, valued at $40,352,094. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Large investors have recently bought and sold shares of the business. Jennison Associates LLC grew its holdings in shares of Skyward Specialty Insurance Group by 1.0% during the third quarter. Jennison Associates LLC now owns 1,296,001 shares of the company's stock worth $52,786,000 after purchasing an additional 12,484 shares during the last quarter. Driehaus Capital Management LLC boosted its position in shares of Skyward Specialty Insurance Group by 2.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company's stock valued at $45,528,000 after purchasing an additional 34,286 shares during the period. Franklin Resources Inc. grew its stake in Skyward Specialty Insurance Group by 16.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company's stock worth $45,506,000 after buying an additional 158,679 shares during the last quarter. American Century Companies Inc. increased its position in Skyward Specialty Insurance Group by 9.2% during the second quarter. American Century Companies Inc. now owns 919,548 shares of the company's stock worth $33,269,000 after buying an additional 77,354 shares during the period. Finally, Emerald Advisers LLC lifted its stake in Skyward Specialty Insurance Group by 3.4% in the third quarter. Emerald Advisers LLC now owns 874,581 shares of the company's stock valued at $35,622,000 after buying an additional 28,618 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

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.