Skyward Specialty Insurance Group (NASDAQ:SKWD) Sets New 1-Year High - Here's What Happened

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $63.84 and last traded at $63.98, with a volume of 36490 shares trading hands. The stock had previously closed at $63.35.

Wall Street Analysts Forecast Growth

SKWD has been the subject of several recent research reports. JMP Securities raised their target price on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a report on Friday, May 2nd. Citigroup reissued an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Jefferies Financial Group downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and dropped their price target for the stock from $62.00 to $59.00 in a research report on Friday, April 11th. Wolfe Research reissued a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Finally, Barclays raised their price target on 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. Four 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $61.75.

Skyward Specialty Insurance Group Price Performance

The stock has a 50-day simple moving average of $56.92 and a 200-day simple moving average of $51.99. The stock has a market cap of $2.54 billion, a PE ratio of 19.19, a P/E/G ratio of 0.81 and a beta of 0.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued 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 company had revenue of $328.53 million for the quarter, compared to analysts' expectations of $310.94 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same quarter in the previous year, the firm posted $0.75 earnings per share. As a group, equities research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, Chairman Kirby Hill sold 8,249 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $60.87, for a total transaction of $502,116.63. Following the transaction, the chairman now owns 8,249 shares in the company, valued at $502,116.63. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Strs Ohio acquired a new position in shares of Skyward Specialty Insurance Group in the first quarter worth about $6,651,000. Ellsworth Advisors LLC grew its holdings in shares of Skyward Specialty Insurance Group by 7.9% during the first quarter. Ellsworth Advisors LLC now owns 14,430 shares of the company's stock valued at $764,000 after purchasing an additional 1,061 shares during the last quarter. Jane Street Group LLC grew its holdings in Skyward Specialty Insurance Group by 286.1% in the 1st quarter. Jane Street Group LLC now owns 33,768 shares of the company's stock worth $1,787,000 after buying an additional 25,022 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Skyward Specialty Insurance Group by 16.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,804 shares of the company's stock worth $5,282,000 after buying an additional 14,217 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Skyward Specialty Insurance Group in the 1st quarter worth approximately $1,126,000. Institutional investors and hedge funds own 94.83% of the company's stock.

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.