Skyward Specialty Insurance Group (NASDAQ:SKWD) Sees Strong Trading Volume – Should You Buy?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) shares saw strong trading volume on Monday . 1,013,460 shares changed hands during mid-day trading, an increase of 167% from the previous session’s volume of 379,114 shares.The stock last traded at $45.59 and had previously closed at $44.28.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SKWD. JMP Securities raised their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Raymond James boosted their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 5th. TD Cowen assumed coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They set a “hold” rating and a $43.00 price target on the stock. Barclays lifted their target price on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Jefferies Financial Group raised their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.22.

Skyward Specialty Insurance Group Stock Performance

The business’s 50-day moving average price is $48.39 and its 200 day moving average price is $44.60. The company has a market cap of $1.92 billion, a P/E ratio of 14.61, a P/E/G ratio of 0.73 and a beta of 0.83.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CEO Andrew S. Robinson sold 6,010 shares of Skyward Specialty Insurance Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $49.37, for a total transaction of $296,713.70. Following the completion of the transaction, the chief executive officer now owns 77,144 shares in the company, valued at approximately $3,808,599.28. The trade was a 7.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Charles Hays sold 25,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the director now owns 747,261 shares of the company’s stock, valued at approximately $40,352,094. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,318 shares of company stock valued at $2,098,866. 8.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several large investors have recently modified their holdings of SKWD. Dimensional Fund Advisors LP bought a new position in shares of Skyward Specialty Insurance Group during the 2nd quarter valued at about $8,151,000. Renaissance Technologies LLC purchased a new position in shares of Skyward Specialty Insurance Group during the second quarter valued at about $224,000. Millennium Management LLC boosted 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 purchasing an additional 65,755 shares in the last quarter. CWM LLC boosted its position in shares of Skyward Specialty Insurance Group by 3,103.1% in the 3rd quarter. CWM LLC now owns 4,132 shares of the company’s stock worth $168,000 after purchasing an additional 4,003 shares in the last quarter. Finally, Riverwater Partners LLC purchased a new position in Skyward Specialty Insurance Group in the third quarter worth about $1,404,000. Hedge funds and other 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.