Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price Down 4.2% – Here’s What Happened

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) shares traded down 4.2% during mid-day trading on Thursday . The stock traded as low as $42.10 and last traded at $41.99. 52,273 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 312,041 shares. The stock had previously closed at $43.83.

Analyst Ratings Changes

Several research firms have commented on SKWD. Raymond James lifted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 5th. Jefferies Financial Group lifted their target price on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JMP Securities upped their price target on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Barclays lifted their price objective on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, TD Cowen started coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They set a “hold” rating and a $43.00 target price for the company. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $48.22.

Skyward Specialty Insurance Group Trading Up 0.1 %

The firm has a market cap of $1.69 billion, a PE ratio of 12.85, a PEG ratio of 0.72 and a beta of 0.89. The firm has a fifty day simple moving average of $49.47 and a two-hundred day simple moving average of $44.18.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The company had revenue of $300.89 million during the quarter, compared to analyst estimates 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 last year, the firm posted $0.65 earnings per share. Equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.07 earnings per share for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In other news, CFO Mark W. Haushill sold 1,630 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $49.06, for a total value of $79,967.80. Following the completion of the transaction, the chief financial officer now owns 176,971 shares in the company, valued at $8,682,197.26. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Charles Hays sold 25,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total value of $1,350,000.00. Following the completion of the sale, the director now directly owns 747,261 shares in the company, valued at approximately $40,352,094. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,318 shares of company stock valued at $2,098,866. Company insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SKWD. Calamos Advisors LLC grew its holdings in Skyward Specialty Insurance Group by 3.4% in the fourth quarter. Calamos Advisors LLC now owns 60,246 shares of the company’s stock worth $3,045,000 after purchasing an additional 1,995 shares during the period. Swedbank AB bought a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth approximately $15,164,000. Kirr Marbach & Co. LLC IN purchased a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth approximately $252,000. Ellsworth Advisors LLC bought a new position in Skyward Specialty Insurance Group during the 4th quarter valued at approximately $676,000. Finally, ORG Wealth Partners LLC purchased a new position in Skyward Specialty Insurance Group during the fourth quarter valued at $61,000. 94.83% of the stock is currently owned by institutional investors.

Skyward Specialty Insurance Group Company Profile

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.