Skyward Specialty Insurance Group (NASDAQ:SKWD) Shares Down 4.7% - Time to Sell?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Get Free Report) shares traded down 4.7% during trading on Wednesday . The company traded as low as $54.10 and last traded at $53.82. 89,204 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 365,315 shares. The stock had previously closed at $56.46.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SKWD. Piper Sandler raised their price objective on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Truist Financial raised their target price on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. JMP Securities lifted their price target 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 note on Friday, May 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.75.

Skyward Specialty Insurance Group Stock Down 2.9%

The company has a market capitalization of $2.22 billion, a PE ratio of 18.28 and a beta of 0.65. The company's 50 day moving average is $59.20 and its two-hundred day moving average is $52.77.

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, beating the consensus estimate of $0.78 by $0.12. The business had revenue of $328.53 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $0.75 EPS. Analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 52,748 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer owned 133,629 shares in the company, valued at $7,852,040.04. This trade represents a 28.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Kirby Hill sold 8,249 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $60.87, for a total value of $502,116.63. Following the completion of the sale, the chairman directly owned 8,249 shares in the company, valued at approximately $502,116.63. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. 8.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of Skyward Specialty Insurance Group in the 1st quarter worth about $631,000. GAMMA Investing LLC grew its position in Skyward Specialty Insurance Group by 6,374.4% in the first quarter. GAMMA Investing LLC now owns 17,675 shares of the company's stock worth $935,000 after acquiring an additional 17,402 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Skyward Specialty Insurance Group by 35.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,587 shares of the company's stock worth $4,326,000 after acquiring an additional 22,313 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Skyward Specialty Insurance Group by 61,250.0% during the first quarter. Harbor Capital Advisors Inc. now owns 78,528 shares of the company's stock valued at $4,156,000 after purchasing an additional 78,400 shares during the period. Finally, Northern Trust Corp raised its position in Skyward Specialty Insurance Group by 18.3% during the fourth quarter. Northern Trust Corp now owns 390,706 shares of the company's stock valued at $19,746,000 after purchasing an additional 60,412 shares during the period. Institutional investors own 94.83% of the company's stock.

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.