Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Short Interest Update

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 728,100 shares, a drop of 20.8% from the February 13th total of 919,500 shares. Based on an average daily volume of 364,300 shares, the short-interest ratio is presently 2.0 days. Currently, 2.1% of the company’s shares are sold short.

Skyward Specialty Insurance Group Trading Down 0.3 %

Shares of Skyward Specialty Insurance Group stock traded down $0.13 during trading hours on Tuesday, reaching $49.37. The stock had a trading volume of 294,560 shares, compared to its average volume of 348,256. The stock’s 50 day moving average is $47.47 and its 200 day moving average is $46.95. The firm has a market capitalization of $1.98 billion, a PE ratio of 15.05, a PEG ratio of 0.81 and a beta of 0.67. Skyward Specialty Insurance Group has a twelve month low of $33.27 and a twelve month high of $55.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $304.40 million during the quarter, compared to the consensus estimate of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. As a group, sell-side analysts predict that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Sandip A. Kapadia sold 4,347 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $49.51, for a total value of $215,219.97. Following the completion of the transaction, the executive vice president now owns 12,508 shares of the company’s stock, valued at $619,271.08. The trade was a 25.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas N. Schmitt sold 546 shares of Skyward Specialty Insurance Group stock in a transaction on Monday, January 6th. The stock was sold at an average price of $46.85, for a total transaction of $25,580.10. Following the completion of the transaction, the insider now directly owns 10,246 shares in the company, valued at $480,025.10. This represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,450 shares of company stock valued at $1,369,342 over the last 90 days. Insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SKWD. Sterling Capital Management LLC raised its position in shares of Skyward Specialty Insurance Group by 756.1% during the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock worth $46,000 after purchasing an additional 809 shares during the last quarter. Quarry LP grew its stake in shares of Skyward Specialty Insurance Group by 176.9% in the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after buying an additional 879 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter valued at approximately $61,000. Summit Investment Advisors Inc. grew its stake in shares of Skyward Specialty Insurance Group by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock valued at $196,000 after buying an additional 247 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $219,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SKWD. Wolfe Research reissued a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They set a “hold” rating and a $43.00 price objective on the stock. Piper Sandler dropped their price objective on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Finally, Barclays raised shares of Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $53.00 to $63.00 in a report on Friday. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.25.

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.