Skyward Specialty Insurance Group (NASDAQ:SKWD) Sets New 52-Week High at $37.80

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) reached a new 52-week high during trading on Thursday . The company traded as high as $37.80 and last traded at $37.52, with a volume of 20118 shares trading hands. The stock had previously closed at $37.19.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Truist Financial increased their price objective on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. JMP Securities raised their price target on shares of Skyward Specialty Insurance Group from $38.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Wednesday, February 21st. Raymond James raised their price target on shares of Skyward Specialty Insurance Group from $36.00 to $40.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, December 12th. Keefe, Bruyette & Woods raised their price target on shares of Skyward Specialty Insurance Group from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, BMO Capital Markets raised their price target on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $38.44.

Skyward Specialty Insurance Group Trading Up 0.7 %

The company’s 50-day moving average price is $33.95 and its two-hundred day moving average price is $31.66. The company has a market cap of $1.41 billion, a P/E ratio of 16.60 and a beta of 0.48.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 15.27%. The company had revenue of $321.60 million during the quarter, compared to analyst estimates of $320.34 million. During the same quarter last year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. Equities analysts forecast that Skyward Specialty Insurance Group, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 12,109 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $35.56, for a total value of $430,596.04. Following the completion of the transaction, the chief executive officer now directly owns 74,533 shares in the company, valued at $2,650,393.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Mark W. Haushill sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the completion of the sale, the chief financial officer now directly owns 261,688 shares in the company, valued at $9,410,300.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew S. Robinson sold 12,109 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $35.56, for a total transaction of $430,596.04. Following the sale, the chief executive officer now owns 74,533 shares of the company’s stock, valued at $2,650,393.48. The disclosure for this sale can be found here. Insiders sold a total of 98,890 shares of company stock worth $3,533,839 over the last ninety days. 9.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP raised its position in shares of Skyward Specialty Insurance Group by 87.9% in the fourth quarter. Quarry LP now owns 746 shares of the company’s stock valued at $25,000 after purchasing an additional 349 shares during the period. Tower Research Capital LLC TRC increased 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 worth $52,000 after acquiring an additional 1,618 shares during the period. Amalgamated Bank increased its position in Skyward Specialty Insurance Group by 90.9% during the third quarter. Amalgamated Bank now owns 2,300 shares of the company’s stock worth $63,000 after acquiring an additional 1,095 shares during the period. New York State Common Retirement Fund bought a new position in Skyward Specialty Insurance Group during the first quarter worth $81,000. Finally, California State Teachers Retirement System bought a new position in Skyward Specialty Insurance Group during the first quarter worth $84,000. 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.