Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Chairman Kirby Hill Sells 8,249 Shares

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Chairman Kirby Hill sold 8,249 shares of the stock in a transaction 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 sale, the chairman now directly owns 8,249 shares of the company’s stock, valued at approximately $502,116.63. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Skyward Specialty Insurance Group Price Performance

SKWD stock opened at $62.56 on Friday. The company’s 50 day simple moving average is $53.57 and its 200-day simple moving average is $50.48. Skyward Specialty Insurance Group, Inc. has a 12 month low of $33.42 and a 12 month high of $63.68. The firm has a market capitalization of $2.53 billion, a PE ratio of 19.07, a P/E/G ratio of 0.81 and a beta of 0.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The firm had revenue of $328.53 million for the quarter, compared to analysts’ expectations of $310.94 million. During the same quarter in the prior year, the firm earned $0.75 EPS. As a group, sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SKWD shares. Keefe, Bruyette & Woods upped their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Jefferies Financial Group cut shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $62.00 to $59.00 in a report on Friday, April 11th. Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Citigroup reissued an “outperform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Finally, Truist Financial lifted their price target on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $61.13.

Institutional Trading of Skyward Specialty Insurance Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in shares of Skyward Specialty Insurance Group by 277.7% during the 3rd quarter. Barclays PLC now owns 64,032 shares of the company’s stock worth $2,608,000 after purchasing an additional 47,081 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Skyward Specialty Insurance Group by 32.9% in the third quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company’s stock valued at $3,515,000 after buying an additional 21,346 shares during the last quarter. Ellsworth Advisors LLC purchased a new position in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $676,000. Kirr Marbach & Co. LLC IN acquired a new stake in Skyward Specialty Insurance Group during the fourth quarter worth approximately $252,000. Finally, Swedbank AB purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter worth approximately $15,164,000. Hedge funds and other 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.