Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CEO Sells 262 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CEO Andrew S. Robinson sold 262 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $45.53, for a total value of $11,928.86. Following the sale, the chief executive officer now directly owns 52,355 shares in the company, valued at approximately $2,383,723.15. This trade represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Skyward Specialty Insurance Group Price Performance

Shares of Skyward Specialty Insurance Group stock opened at $42.51 on Friday. The company’s 50 day moving average price is $50.27 and its two-hundred day moving average price is $43.69. The firm has a market capitalization of $1.70 billion, a P/E ratio of 12.96, a P/E/G ratio of 0.95 and a beta of 0.89. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $29.40 and a fifty-two week high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 posted $0.65 EPS. On average, analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SKWD shares. Jefferies Financial Group upped their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JMP Securities upped 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 report on Wednesday, October 30th. Raymond James increased their price target on shares of 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 boosted their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $48.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SKWD. Bank of New York Mellon Corp grew its holdings in Skyward Specialty Insurance Group by 18.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,996 shares of the company’s stock worth $5,065,000 after acquiring an additional 22,126 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Skyward Specialty Insurance Group by 55.5% in the second quarter. Principal Financial Group Inc. now owns 69,493 shares of the company’s stock valued at $2,514,000 after purchasing an additional 24,804 shares during the period. Rhumbline Advisers raised its position in Skyward Specialty Insurance Group by 38.0% during the 2nd quarter. Rhumbline Advisers now owns 54,958 shares of the company’s stock worth $1,988,000 after purchasing an additional 15,126 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Skyward Specialty Insurance Group by 13.2% during the 2nd quarter. Victory Capital Management Inc. now owns 658,450 shares of the company’s stock worth $23,823,000 after buying an additional 76,524 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Skyward Specialty Insurance Group by 24.2% in the 2nd quarter. Arizona State Retirement System now owns 9,516 shares of the company’s stock valued at $344,000 after buying an additional 1,854 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.