Sandip A. Kapadia Sells 4,347 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) EVP Sandip A. Kapadia sold 4,347 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $49.51, for a total transaction of $215,219.97. Following the completion of the transaction, the executive vice president now owns 12,508 shares of the company’s stock, valued at approximately $619,271.08. The trade was a 25.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Skyward Specialty Insurance Group Stock Performance

NASDAQ SKWD opened at $45.61 on Thursday. Skyward Specialty Insurance Group, Inc. has a one year low of $29.40 and a one year high of $55.62. The stock has a 50-day moving average of $50.27 and a 200 day moving average of $43.58. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 0.95 and a beta of 0.89.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.06. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The firm had revenue of $300.89 million during the quarter, compared to analysts’ expectations of $292.43 million. During the same period in the previous year, the company earned $0.65 earnings per share. On average, equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on SKWD. Jefferies Financial Group raised their target price on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Raymond James lifted their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 5th. Barclays boosted their target price on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, JMP Securities raised their price target on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Skyward Specialty Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $47.78.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in Skyward Specialty Insurance Group by 49.8% in the third quarter. Principal Financial Group Inc. now owns 104,105 shares of the company’s stock valued at $4,240,000 after acquiring an additional 34,612 shares during the period. Barclays PLC increased its position in shares of Skyward Specialty Insurance Group by 277.7% during the 3rd quarter. Barclays PLC now owns 64,032 shares of the company’s stock valued at $2,608,000 after purchasing an additional 47,081 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Skyward Specialty Insurance Group in the 2nd quarter worth approximately $10,152,000. State Street Corp lifted its stake in shares of Skyward Specialty Insurance Group by 10.8% in the 3rd quarter. State Street Corp now owns 844,233 shares of the company’s stock worth $34,386,000 after purchasing an additional 82,328 shares during the period. Finally, Navellier & Associates Inc. purchased a new position in shares of Skyward Specialty Insurance Group in the third quarter worth approximately $1,051,000. 94.83% of the stock is currently owned by hedge funds and other 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.