Corp Westaim Sells 5,060,000 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) major shareholder Corp Westaim sold 5,060,000 shares of the firm's stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $36.50, for a total value of $184,690,000.00. Following the completion of the sale, the insider now owns 1,919,639 shares in the company, valued at $70,066,823.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD traded down $0.92 during trading hours on Monday, hitting $36.44. The stock had a trading volume of 396,159 shares, compared to its average volume of 349,267. The business's 50 day moving average is $36.36 and its 200-day moving average is $33.69. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 13.40 and a beta of 0.68. Skyward Specialty Insurance Group, Inc. has a one year low of $21.93 and a one year high of $38.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. Skyward Specialty Insurance Group had a return on equity of 15.98% and a net margin of 11.16%. The business had revenue of $264.97 million for the quarter, compared to analyst estimates of $251.66 million. During the same quarter last year, the firm earned $0.42 EPS. On average, sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 2.74 EPS for the current fiscal year.

Institutional Trading of Skyward Specialty Insurance Group

A number of institutional investors have recently made changes to their positions in SKWD. Vanguard Group Inc. increased its position in shares of Skyward Specialty Insurance Group by 109.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company's stock worth $41,390,000 after purchasing an additional 790,826 shares during the last quarter. Redwood Investments LLC bought a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth $2,890,000. DekaBank Deutsche Girozentrale bought a new stake in Skyward Specialty Insurance Group during the third quarter worth $396,000. ClariVest Asset Management LLC bought a new position in Skyward Specialty Insurance Group in the third quarter valued at about $1,106,000. Finally, Strs Ohio bought a new position in shares of Skyward Specialty Insurance Group in the 4th quarter valued at $6,393,000. Institutional investors own 94.83% of the company's stock.

Wall Street Analyst Weigh In

SKWD has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a "market perform" rating in a report on Monday, February 26th. Keefe, Bruyette & Woods upped their target price on Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 8th. JMP Securities lifted their price target on shares of Skyward Specialty Insurance Group from $42.00 to $45.00 and gave the company a "market outperform" rating in a research report on Thursday, May 2nd. Piper Sandler upped their price objective on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the stock an "overweight" rating in a report on Monday, April 1st. Finally, Truist Financial lifted their target price on shares of Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, May 3rd. One analyst has 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.com, Skyward Specialty Insurance Group has a consensus rating of "Buy" and a consensus target price of $42.50.

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.

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