Skyward Specialty Insurance Group (NASDAQ:SKWD) Sees Strong Trading Volume – Time to Buy?

Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) saw unusually-strong trading volume on Monday . Approximately 1,013,460 shares were traded during trading, an increase of 167% from the previous session’s volume of 379,114 shares.The stock last traded at $45.59 and had previously closed at $44.28.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SKWD. Raymond James upped 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 price target on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Barclays raised their target price on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 price target for the company. Finally, JMP Securities lifted their price objective on shares of Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.22.

Skyward Specialty Insurance Group Stock Up 4.4 %

The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.73 and a beta of 0.84. The stock’s 50 day moving average price is $48.64 and its two-hundred day moving average price is $44.50.

Insider Buying and Selling at Skyward Specialty Insurance Group

In related news, CEO Andrew S. Robinson sold 6,010 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total transaction of $296,713.70. Following the transaction, the chief executive officer now directly owns 77,144 shares in the company, valued at $3,808,599.28. The trade was a 7.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Charles Hays sold 25,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the director now owns 747,261 shares of the company’s stock, valued at approximately $40,352,094. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,318 shares of company stock worth $2,098,866 over the last three months. Corporate insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SKWD. Jennison Associates LLC grew its position in Skyward Specialty Insurance Group by 1.0% in the third quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock valued at $52,786,000 after acquiring an additional 12,484 shares during the period. Franklin Resources Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company’s stock worth $45,506,000 after purchasing an additional 158,679 shares during the last quarter. Emerald Advisers LLC increased its position in shares of Skyward Specialty Insurance Group by 3.4% during the 3rd quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock worth $35,622,000 after purchasing an additional 28,618 shares in the last quarter. State Street Corp boosted its position in Skyward Specialty Insurance Group by 10.8% in the third quarter. State Street Corp now owns 844,233 shares of the company’s stock valued at $34,386,000 after buying an additional 82,328 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Skyward Specialty Insurance Group by 12.9% during the third quarter. Victory Capital Management Inc. now owns 743,073 shares of the company’s stock worth $30,265,000 after buying an additional 84,623 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.

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.