Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price Down 4.2% – Time to Sell?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)’s stock price was down 4.2% during mid-day trading on Friday . The company traded as low as $46.95 and last traded at $46.98. Approximately 141,941 shares were traded during trading, a decline of 9% from the average daily volume of 156,734 shares. The stock had previously closed at $49.05.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Barclays raised their target price on shares of Skyward Specialty Insurance Group from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Raymond James upped their target price on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 5th. Jefferies Financial Group raised their price target on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, JMP Securities increased their price objective on 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. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.89.

Skyward Specialty Insurance Group Trading Down 5.1 %

The stock’s 50 day moving average price is $50.23 and its two-hundred day moving average price is $43.22. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.95 and a beta of 0.89.

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

Insider Activity at Skyward Specialty Insurance Group

In other news, Director James Charles Hays sold 25,000 shares of the firm’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 transaction of $1,350,000.00. Following the completion of the transaction, the director now directly owns 747,261 shares of the company’s stock, valued at $40,352,094. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI purchased a new stake in shares of Skyward Specialty Insurance Group in the third quarter valued at $41,000. Amalgamated Bank boosted its stake in shares of Skyward Specialty Insurance Group by 27.7% during the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after purchasing an additional 279 shares during the last quarter. Quarry LP grew its holdings in shares of Skyward Specialty Insurance Group by 176.9% during the third quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after buying an additional 879 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Skyward Specialty Insurance Group in the second quarter valued at approximately $160,000. Finally, CWM LLC lifted its stake in shares of Skyward Specialty Insurance Group by 3,103.1% during the third quarter. CWM LLC now owns 4,132 shares of the company’s stock valued at $168,000 after buying an additional 4,003 shares during the period. Hedge funds and other institutional investors 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.