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

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Chairman Kirby Hill sold 8,249 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total transaction of $502,116.63. Following the completion of the sale, the chairman now owns 8,249 shares of the company’s stock, valued at $502,116.63. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Skyward Specialty Insurance Group Stock Up 2.5%

Shares of Skyward Specialty Insurance Group stock opened at $62.56 on Friday. The firm has a market capitalization of $2.53 billion, a P/E ratio of 19.07, a P/E/G ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group, Inc. has a 52 week low of $33.42 and a 52 week high of $63.68. The firm’s 50 day moving average is $53.57 and its two-hundred day moving average is $50.48.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The firm had revenue of $328.53 million for the quarter, compared to analyst estimates of $310.94 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same period last year, the business earned $0.75 EPS. As a group, research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Institutional Trading of Skyward Specialty Insurance Group

Large investors have recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its position in shares of Skyward Specialty Insurance Group by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock worth $196,000 after acquiring an additional 247 shares during the last quarter. Arizona State Retirement System grew its position in Skyward Specialty Insurance Group by 4.6% during the 1st quarter. Arizona State Retirement System now owns 10,329 shares of the company’s stock worth $547,000 after purchasing an additional 451 shares during the last quarter. US Bancorp DE increased its stake in Skyward Specialty Insurance Group by 8.2% in the first quarter. US Bancorp DE now owns 5,935 shares of the company’s stock valued at $314,000 after purchasing an additional 451 shares during the period. Cetera Investment Advisers raised its holdings in shares of Skyward Specialty Insurance Group by 6.2% in the first quarter. Cetera Investment Advisers now owns 9,641 shares of the company’s stock valued at $510,000 after buying an additional 566 shares during the last quarter. Finally, Moran Wealth Management LLC boosted its stake in shares of Skyward Specialty Insurance Group by 6.2% during the first quarter. Moran Wealth Management LLC now owns 10,032 shares of the company’s stock worth $531,000 after buying an additional 585 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SKWD shares. Truist Financial boosted their price objective on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a “buy” rating in a report on Monday, May 5th. Barclays raised their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, April 11th. Citigroup reiterated an “outperform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Jefferies Financial Group lowered Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $62.00 to $59.00 in a research report on Friday, April 11th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.13.

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.