Skyward Specialty Insurance Group (NASDAQ:SKWD) Shares Gap Down - Time to Sell?

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $52.15, but opened at $50.74. Skyward Specialty Insurance Group shares last traded at $50.55, with a volume of 52,223 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SKWD. Piper Sandler dropped their price objective on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Keefe, Bruyette & Woods lowered their price objective on shares of Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. JMP Securities reissued a "market outperform" rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Jefferies Financial Group downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and reduced their price target for the company from $62.00 to $59.00 in a report on Friday, April 11th. Finally, TD Cowen began coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a "hold" rating and a $43.00 price objective for the company. Four research analysts have rated the stock with a hold rating, six 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 an average rating of "Moderate Buy" and an average target price of $57.00.

Skyward Specialty Insurance Group Trading Up 0.4 %

The company has a market cap of $2.18 billion, a PE ratio of 16.49, a PEG ratio of 0.81 and a beta of 0.63. The stock has a 50 day moving average price of $50.88 and a 200 day moving average price of $48.72.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The firm had revenue of $304.40 million for the quarter, compared to analysts' expectations of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. Equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, insider John A. Burkhart III sold 4,832 shares of Skyward Specialty Insurance Group stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the completion of the transaction, the insider now directly owns 17,655 shares of the company's stock, valued at approximately $886,987.20. The trade was a 21.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gena L. Ashe sold 1,000 shares of the stock in a transaction that occurred on 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 owns 734 shares in the company, valued at approximately $37,155.08. The trade was a 57.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,132 shares of company stock worth $620,476. 7.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its stake in shares of Skyward Specialty Insurance Group by 756.1% in the fourth 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. ORG Wealth Partners LLC purchased a new position in Skyward Specialty Insurance Group in the 4th quarter worth about $61,000. Summit Investment Advisors Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock valued at $196,000 after acquiring an additional 247 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter valued at about $219,000. Finally, Pinnacle Financial Partners Inc bought a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter worth approximately $220,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

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.