Skyward Specialty Insurance Group (NASDAQ:SKWD) Sees Large Volume Increase

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) shares saw unusually-high trading volume on Tuesday . Approximately 190,383 shares were traded during mid-day trading, a decline of 46% from the previous session’s volume of 355,248 shares.The stock last traded at $40.46 and had previously closed at $42.21.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Truist Financial reissued a “buy” rating and set a $49.00 price objective (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a research report on Wednesday, August 7th. Barclays began coverage on Skyward Specialty Insurance Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $44.00 target price on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Oppenheimer started coverage on shares of Skyward Specialty Insurance Group in a research report on Friday, July 12th. They set a “market perform” rating on the stock. Finally, JMP Securities increased their price target on Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $43.78.

Skyward Specialty Insurance Group Trading Down 6.3 %

The business has a 50-day moving average price of $38.34 and a 200 day moving average price of $36.97. The stock has a market cap of $1.59 billion, a PE ratio of 14.44, a PEG ratio of 0.77 and a beta of 0.60.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Monday, August 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.65 by $0.15. The business had revenue of $279.94 million for the quarter, compared to the consensus estimate of $282.70 million. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. During the same period in the prior year, the firm earned $0.42 earnings per share. On average, equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.96 earnings per share for the current year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $36.87, for a total transaction of $60,946.11. Following the sale, the director now owns 4,001 shares in the company, valued at $147,516.87. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.01% of the stock is owned by insiders.

Institutional Trading of Skyward Specialty Insurance Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank boosted its position in shares of Skyward Specialty Insurance Group by 27.7% during the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock valued at $46,000 after acquiring an additional 279 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Skyward Specialty Insurance Group by 24.2% during the first quarter. Ameritas Investment Partners Inc. now owns 2,972 shares of the company’s stock worth $111,000 after purchasing an additional 579 shares during the last quarter. Arizona State Retirement System lifted its stake in Skyward Specialty Insurance Group by 24.2% during the second quarter. Arizona State Retirement System now owns 9,516 shares of the company’s stock worth $344,000 after purchasing an additional 1,854 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Skyward Specialty Insurance Group by 67.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,632 shares of the company’s stock worth $204,000 after buying an additional 2,270 shares in the last quarter. Finally, Diversified Trust Co grew its position in Skyward Specialty Insurance Group by 26.3% during the first quarter. Diversified Trust Co now owns 11,775 shares of the company’s stock valued at $441,000 after acquiring an additional 2,450 shares during the last quarter. 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.