Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Short Interest Update

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 728,100 shares, a decline of 20.8% from the February 13th total of 919,500 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 364,300 shares, the short-interest ratio is currently 2.0 days.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Director Gena L. Ashe sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.62, for a total value of $50,620.00. Following the completion of the transaction, the director now owns 734 shares of the company’s stock, valued at $37,155.08. This represents a 57.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John A. Burkhart III sold 4,832 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.24, for a total value of $242,759.68. Following the completion of the transaction, the insider now directly owns 17,655 shares of the company’s stock, valued at approximately $886,987.20. The trade was a 21.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,450 shares of company stock valued at $1,369,342. Corporate insiders own 8.01% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Skyward Specialty Insurance Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company’s stock worth $114,990,000 after acquiring an additional 16,572 shares in the last quarter. American Century Companies Inc. grew its position in Skyward Specialty Insurance Group by 54.0% in the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company’s stock worth $79,744,000 after acquiring an additional 553,389 shares in the last quarter. Jennison Associates LLC grew its position in Skyward Specialty Insurance Group by 1.0% in the third quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock worth $52,786,000 after acquiring an additional 12,484 shares in the last quarter. Invesco Ltd. grew its position in Skyward Specialty Insurance Group by 9.1% in the fourth quarter. Invesco Ltd. now owns 1,217,329 shares of the company’s stock worth $61,524,000 after acquiring an additional 102,042 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Skyward Specialty Insurance Group by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company’s stock worth $58,860,000 after acquiring an additional 47,363 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 target price on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Piper Sandler reduced their price target on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Wolfe Research reiterated a “peer perform” rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. TD Cowen began coverage on Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a “hold” rating and a $43.00 price target on the stock. Finally, Barclays upgraded Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $53.00 to $63.00 in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $56.25.

Skyward Specialty Insurance Group Stock Performance

Skyward Specialty Insurance Group stock traded down $0.13 during midday trading on Tuesday, hitting $49.37. 294,560 shares of the company’s stock were exchanged, compared to its average volume of 348,256. Skyward Specialty Insurance Group has a 52-week low of $33.27 and a 52-week high of $55.62. The stock has a 50-day moving average price of $47.47 and a two-hundred day moving average price of $46.95. The company has a market cap of $1.98 billion, a P/E ratio of 15.05, a PEG ratio of 0.81 and a beta of 0.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $295.56 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. As a group, sell-side analysts expect that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current year.

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.