Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Short Interest Up 21.4% in April

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 756,000 shares, a growth of 21.4% from the March 31st total of 622,600 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average trading volume of 449,300 shares, the short-interest ratio is presently 1.7 days.

Insider Activity

In other Skyward Specialty Insurance Group news, insider John A. Burkhart III sold 4,832 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the sale, the insider now owns 17,655 shares in the company, valued at approximately $886,987.20. The trade was a 21.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gena L. Ashe sold 1,000 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.62, for a total transaction of $50,620.00. Following the sale, the director now directly owns 734 shares of the company's stock, valued at $37,155.08. This represents a 57.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,132 shares of company stock worth $620,476. Insiders own 8.01% of the company's stock.

Institutional Trading of Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Investment Advisors Inc. lifted its holdings in 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 worth $196,000 after purchasing an additional 247 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Skyward Specialty Insurance Group by 4.6% in the first quarter. Arizona State Retirement System now owns 10,329 shares of the company's stock worth $547,000 after buying an additional 451 shares during the last quarter. Moran Wealth Management LLC lifted its stake in shares of Skyward Specialty Insurance Group by 6.2% in the first quarter. Moran Wealth Management LLC now owns 10,032 shares of the company's stock worth $531,000 after buying an additional 585 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Skyward Specialty Insurance Group by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,129 shares of the company's stock worth $1,068,000 after buying an additional 748 shares during the period. Finally, Sterling Capital Management LLC grew its stake in Skyward Specialty Insurance Group by 756.1% in the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock valued at $46,000 after buying an additional 809 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on SKWD. Barclays lifted their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods lowered their price target on Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a "hold" rating and a $43.00 price objective for the company. Truist Financial lifted their target price on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Piper Sandler reduced their price target 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. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of "Moderate Buy" and an average price target of $57.63.

Skyward Specialty Insurance Group Price Performance

SKWD traded up $5.06 during midday trading on Friday, hitting $58.63. 1,014,976 shares of the company's stock traded hands, compared to its average volume of 383,431. The company has a market cap of $2.36 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 0.81 and a beta of 0.63. The stock's fifty day simple moving average is $51.97 and its 200-day simple moving average is $49.64. Skyward Specialty Insurance Group has a one year low of $33.42 and a one year high of $58.70.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.12. The business had revenue of $328.53 million for the quarter, compared to the consensus estimate of $310.94 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same quarter last year, the firm earned $0.75 EPS. On average, research analysts expect that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Skyward Specialty Insurance Group Company Profile

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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