Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CFO Sells 52,748 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) CFO Mark W. Haushill sold 52,748 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $58.76, for a total transaction of $3,099,472.48. Following the sale, the chief financial officer now directly owns 133,629 shares in the company, valued at approximately $7,852,040.04. This represents a 28.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Skyward Specialty Insurance Group Stock Up 2.5%

Shares of NASDAQ:SKWD traded up $1.45 during midday trading on Monday, hitting $58.78. The stock had a trading volume of 316,245 shares, compared to its average volume of 368,507. The business's 50-day simple moving average is $58.84 and its 200-day simple moving average is $52.52. The company has a market cap of $2.37 billion, a P/E ratio of 19.59 and a beta of 0.79. Skyward Specialty Insurance Group, Inc. has a 12 month low of $34.10 and a 12 month high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.12. The firm had revenue of $328.53 million during the quarter, compared to analysts' expectations of $310.94 million. Skyward Specialty Insurance Group had a net margin of 10.23% and a return on equity of 16.80%. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Institutional Trading of Skyward Specialty Insurance Group

Institutional investors have recently bought and sold shares of the business. Reinhart Partners LLC. acquired a new position in shares of Skyward Specialty Insurance Group in the 1st quarter valued at approximately $49,979,000. Capital World Investors acquired a new stake in Skyward Specialty Insurance Group in the fourth quarter valued at about $41,182,000. American Century Companies Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 54.0% during the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock valued at $79,744,000 after purchasing an additional 553,389 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Skyward Specialty Insurance Group by 3,712.0% during the 1st quarter. Voya Investment Management LLC now owns 433,652 shares of the company's stock valued at $22,949,000 after purchasing an additional 422,276 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Skyward Specialty Insurance Group by 37.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company's stock worth $52,995,000 after purchasing an additional 283,749 shares in the last quarter. Institutional investors own 94.83% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on SKWD. Wolfe Research reiterated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Keefe, Bruyette & Woods upped their price target on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. Truist Financial upped their target price on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Barclays boosted their target price on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a research note on Friday, April 11th. Finally, Piper Sandler raised their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.75.

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.