Insider Selling: Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Major Shareholder Sells 3,600,000 Shares of Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) major shareholder Corp Westaim sold 3,600,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $30.50, for a total value of $109,800,000.00. Following the completion of the sale, the insider now owns 6,979,639 shares in the company, valued at $212,878,989.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Skyward Specialty Insurance Group Price Performance

SKWD stock opened at $30.00 on Tuesday. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $17.50 and a fifty-two week high of $32.27. The stock has a market capitalization of $1.13 billion and a price-to-earnings ratio of 14.08. The business’s fifty day moving average price is $28.43 and its two-hundred day moving average price is $25.75.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Strs Ohio acquired a new stake in shares of Skyward Specialty Insurance Group during the first quarter valued at about $48,000. Amalgamated Bank bought a new stake in Skyward Specialty Insurance Group during the first quarter worth $39,000. Calamos Advisors LLC bought a new stake in Skyward Specialty Insurance Group during the first quarter worth $1,236,000. Royce & Associates LP bought a new stake in Skyward Specialty Insurance Group during the first quarter worth $7,538,000. Finally, Emerald Advisers LLC bought a new stake in Skyward Specialty Insurance Group during the first quarter worth $9,550,000. Institutional investors own 41.33% of the company’s stock.

Analyst Ratings Changes

SKWD has been the topic of several research analyst reports. BMO Capital Markets increased their target price on Skyward Specialty Insurance Group from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Monday, August 14th. Raymond James upped their target price on shares of Skyward Specialty Insurance Group from $30.00 to $36.00 and gave the stock a “strong-buy” rating in a research note on Monday. Truist Financial raised their price target on shares of Skyward Specialty Insurance Group from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Piper Sandler increased their price objective on Skyward Specialty Insurance Group from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, October 6th. Finally, JMP Securities increased their price objective on Skyward Specialty Insurance Group from $32.00 to $33.00 and gave the company a “market outperform” rating in a report on Friday, October 13th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $31.57.

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.