Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Insider John A. Burkhart III Sells 4,832 Shares

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) insider John A. Burkhart III sold 4,832 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $50.24, for a total value of $242,759.68. Following the completion of the transaction, the insider now owns 17,655 shares in the company, valued at $886,987.20. This represents a 21.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock opened at $47.26 on Tuesday. The business’s 50-day simple moving average is $47.43 and its 200-day simple moving average is $46.65. Skyward Specialty Insurance Group, Inc. has a 52 week low of $33.27 and a 52 week high of $55.62. The firm has a market capitalization of $1.90 billion, a PE ratio of 14.41, a PEG ratio of 0.81 and a beta of 0.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The company had revenue of $304.40 million for the quarter, compared to the consensus estimate of $295.56 million. Research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Large investors have recently bought and sold shares of the stock. US Bancorp DE grew its position in Skyward Specialty Insurance Group by 17.2% in the 3rd quarter. US Bancorp DE now owns 14,129 shares of the company’s stock worth $575,000 after purchasing an additional 2,073 shares during the last quarter. Principal Financial Group Inc. grew its position in Skyward Specialty Insurance Group by 49.8% during the third quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock worth $4,240,000 after buying an additional 34,612 shares in the last quarter. Chartwell Investment Partners LLC increased its stake in Skyward Specialty Insurance Group by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 38,037 shares of the company’s stock valued at $1,549,000 after acquiring an additional 306 shares during the period. Victory Capital Management Inc. increased its stake in Skyward Specialty Insurance Group by 12.9% during the third quarter. Victory Capital Management Inc. now owns 743,073 shares of the company’s stock valued at $30,265,000 after acquiring an additional 84,623 shares during the period. Finally, Royce & Associates LP bought a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter worth approximately $2,690,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Piper Sandler decreased their target price on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Wolfe Research reissued a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Truist Financial raised their target price on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Keefe, Bruyette & Woods upped their price target on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Finally, Barclays raised their price objective on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and a consensus target price of $55.00.

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.