Skyward Specialty Insurance Group (NASDAQ:SKWD) Shares Gap Down to $37.58

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)’s share price gapped down prior to trading on Monday . The stock had previously closed at $37.58, but opened at $36.30. Skyward Specialty Insurance Group shares last traded at $37.89, with a volume of 89,700 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SKWD shares. BMO Capital Markets boosted their price target on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, February 26th. Piper Sandler boosted their price target on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Truist Financial upped their target price on Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods increased their price target on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Wolfe Research started coverage on Skyward Specialty Insurance Group in a report on Thursday, January 11th. They issued an “outperform” rating and a $39.00 price target for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $40.56.

Skyward Specialty Insurance Group Price Performance

The company has a market capitalization of $1.50 billion, a P/E ratio of 13.89 and a beta of 0.68. The company has a fifty day simple moving average of $36.25 and a two-hundred day simple moving average of $33.37.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. Skyward Specialty Insurance Group had a return on equity of 16.81% and a net margin of 11.16%. The company had revenue of $264.97 million for the quarter, compared to the consensus estimate of $251.66 million. During the same period in the previous year, the business earned $0.42 earnings per share. Equities analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 2.7 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Andrew S. Robinson sold 12,109 shares of the company’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 sale, the chief executive officer now directly owns 74,533 shares of the company’s stock, valued at approximately $2,650,393.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Mark W. Haushill sold 25,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $35.58, for a total transaction of $889,500.00. Following the transaction, the chief financial officer now owns 236,688 shares of the company’s stock, valued at approximately $8,421,359.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew S. Robinson sold 12,109 shares of the business’s stock in a transaction dated 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 directly owns 74,533 shares of the company’s stock, valued at $2,650,393.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,890 shares of company stock valued at $3,533,839. Company insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wakefield Asset Management LLLP purchased a new position in shares of Skyward Specialty Insurance Group during the 1st quarter valued at about $952,000. Capstone Investment Advisors LLC boosted its stake in Skyward Specialty Insurance Group by 68.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 107,796 shares of the company’s stock worth $4,033,000 after purchasing an additional 43,739 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Skyward Specialty Insurance Group by 19.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock valued at $17,383,000 after purchasing an additional 75,137 shares in the last quarter. Principal Financial Group Inc. bought a new position in Skyward Specialty Insurance Group in the 1st quarter valued at approximately $1,672,000. Finally, Wasatch Advisors LP lifted its holdings in shares of Skyward Specialty Insurance Group by 5.9% during the first quarter. Wasatch Advisors LP now owns 276,494 shares of the company’s stock valued at $10,344,000 after purchasing an additional 15,407 shares in the last quarter. 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.