Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CEO Sells 262 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) CEO Andrew S. Robinson sold 262 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $45.53, for a total transaction of $11,928.86. Following the transaction, the chief executive officer now owns 52,355 shares in the company, valued at $2,383,723.15. The trade was a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Skyward Specialty Insurance Group Trading Down 6.8 %

Shares of SKWD opened at $42.51 on Friday. The company has a market cap of $1.70 billion, a P/E ratio of 12.96, a P/E/G ratio of 0.95 and a beta of 0.89. Skyward Specialty Insurance Group, Inc. has a twelve month low of $29.40 and a twelve month high of $55.62. The company’s fifty day simple moving average is $50.27 and its 200-day simple moving average is $43.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The business had revenue of $300.89 million for the quarter, compared to the consensus estimate of $292.43 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 prior year, the company earned $0.65 EPS. Analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

A number of institutional investors have recently added to or reduced their stakes in SKWD. ORG Wealth Partners LLC acquired a new position in shares of Skyward Specialty Insurance Group in the 4th quarter valued at $61,000. Nordea Investment Management AB lifted its position in Skyward Specialty Insurance Group by 2.4% in the fourth quarter. Nordea Investment Management AB now owns 64,321 shares of the company’s stock valued at $3,248,000 after acquiring an additional 1,523 shares during the last quarter. JPMorgan Chase & Co. increased its position in Skyward Specialty Insurance Group by 32.9% during the third quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company’s stock worth $3,515,000 after buying an additional 21,346 shares during the period. Principal Financial Group Inc. grew its position in Skyward Specialty Insurance Group by 49.8% during the 3rd quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock worth $4,240,000 after purchasing an additional 34,612 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Skyward Specialty Insurance Group by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock valued at $45,506,000 after acquiring an additional 158,679 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Raymond James upped their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 5th. JMP Securities lifted their price objective on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays boosted their price objective on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.78.

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.