Skyward Specialty Insurance Group (NASDAQ:SKWD) Sees Strong Trading Volume

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) saw unusually-high trading volume on Tuesday . Approximately 190,383 shares changed hands during mid-day trading, a decline of 46% from the previous session’s volume of 355,248 shares.The stock last traded at $40.46 and had previously closed at $42.21.

Analyst Ratings Changes

Several research firms have issued reports on SKWD. Keefe, Bruyette & Woods upped their price target on shares of Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Barclays initiated coverage on Skyward Specialty Insurance Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $44.00 price target on the stock. William Blair initiated coverage on Skyward Specialty Insurance Group in a research report on Monday, August 19th. They issued an “outperform” rating for the company. Truist Financial restated a “buy” rating and issued a $49.00 target price (up previously from $47.00) on shares of Skyward Specialty Insurance Group in a report on Wednesday, August 7th. Finally, JMP Securities upped their price target on shares of Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the company a “market outperform” rating in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.78.

Skyward Specialty Insurance Group Trading Down 1.6 %

The company’s fifty day simple moving average is $38.47 and its 200 day simple moving average is $37.01. The firm has a market capitalization of $1.57 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 0.77 and a beta of 0.60.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.15. The company had revenue of $279.94 million for the quarter, compared to analysts’ expectations of $282.70 million. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. During the same quarter in the previous year, the company earned $0.42 earnings per share. On average, analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.96 earnings per share for the current fiscal year.

Insider Activity

In other Skyward Specialty Insurance Group news, Director Katharine Terry sold 1,653 shares of Skyward Specialty Insurance Group stock in a transaction on Friday, August 9th. The stock was sold at an average price of $36.87, for a total transaction of $60,946.11. Following the completion of the transaction, the director now owns 4,001 shares in the company, valued at $147,516.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 bought and sold shares of the stock. Cim LLC bought a new stake in Skyward Specialty Insurance Group during the second quarter valued at about $249,000. Ghisallo Capital Management LLC grew its position in shares of Skyward Specialty Insurance Group by 18.5% during the second quarter. Ghisallo Capital Management LLC now owns 118,457 shares of the company’s stock worth $4,286,000 after purchasing an additional 18,457 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in Skyward Specialty Insurance Group by 2.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,258,383 shares of the company’s stock worth $45,528,000 after purchasing an additional 34,286 shares during the period. Lighthouse Investment Partners LLC boosted its stake in Skyward Specialty Insurance Group by 93.1% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 112,162 shares of the company’s stock worth $4,058,000 after purchasing an additional 54,069 shares during the period. Finally, Millennium Management LLC raised its position in shares of Skyward Specialty Insurance Group by 30.9% during the second quarter. Millennium Management LLC now owns 278,272 shares of the company’s stock valued at $10,068,000 after buying an additional 65,755 shares during the last quarter. Hedge funds and other 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.