Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD – Get Free Report) were down 3.8% during mid-day trading on Thursday . The company traded as low as $32.29 and last traded at $32.49. Approximately 264,387 shares changed hands during trading, a decline of 18% from the average daily volume of 322,815 shares. The stock had previously closed at $33.78.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on SKWD shares. Jefferies Financial Group started coverage on Skyward Specialty Insurance Group in a research report on Tuesday. They set a “buy” rating and a $40.00 price target for the company. JMP Securities boosted their price target on Skyward Specialty Insurance Group from $32.00 to $33.00 and gave the stock a “market outperform” rating in a research report on Friday, October 13th. Piper Sandler boosted their price target on Skyward Specialty Insurance Group from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 21st. Raymond James boosted their price target on Skyward Specialty Insurance Group from $36.00 to $40.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. Finally, Truist Financial boosted their price objective on Skyward Specialty Insurance Group from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of “Buy” and an average price target of $33.63.
View Our Latest Report on SKWD
Skyward Specialty Insurance Group Stock Up 2.8 %
The business has a 50-day moving average price of $30.40 and a 200-day moving average price of $26.87. The company has a market capitalization of $1.26 billion and a price-to-earnings ratio of 15.65.
Skyward Specialty Insurance Group (NASDAQ:SKWD – Get Free Report) last announced its earnings results on Monday, November 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.30. The company had revenue of $239.22 million for the quarter, compared to analyst estimates of $210.74 million. Skyward Specialty Insurance Group had a return on equity of 13.48% and a net margin of 9.17%. As a group, sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.06 EPS for the current year.
Insider Transactions at Skyward Specialty Insurance Group
In other news, major shareholder Corp Westaim sold 3,600,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $30.50, for a total transaction of $109,800,000.00. Following the sale, the insider now directly owns 6,979,639 shares of the company’s stock, valued at $212,878,989.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.46% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of SKWD. Tower Research Capital LLC TRC raised its position in Skyward Specialty Insurance Group by 390.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,032 shares of the company’s stock valued at $52,000 after buying an additional 1,618 shares during the period. Amalgamated Bank grew its stake in Skyward Specialty Insurance Group by 90.9% in the third quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock valued at $63,000 after purchasing an additional 1,095 shares in the last quarter. New York State Common Retirement Fund purchased a new position in Skyward Specialty Insurance Group in the first quarter valued at about $81,000. California State Teachers Retirement System purchased a new position in Skyward Specialty Insurance Group in the first quarter valued at about $84,000. Finally, Citigroup Inc. purchased a new position in Skyward Specialty Insurance Group in the second quarter valued at about $87,000. 41.33% of the stock is owned by institutional investors and hedge funds.
About Skyward Specialty Insurance Group
(Get Free Report)
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.
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