Skyward Specialty Insurance Group (NASDAQ:SKWD) Shares Gap Up – Time to Buy?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) shares gapped up prior to trading on Friday . The stock had previously closed at $47.35, but opened at $49.98. Skyward Specialty Insurance Group shares last traded at $49.63, with a volume of 92,274 shares changing hands.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price objective on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 price objective for the company. Wolfe Research reaffirmed a “peer perform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Keefe, Bruyette & Woods lifted their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Finally, Piper Sandler cut their target price on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.25.

Skyward Specialty Insurance Group Stock Up 5.1 %

The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 0.81 and a beta of 0.66. The business’s 50-day moving average is $47.38 and its two-hundred day moving average is $46.84.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $304.40 million for the quarter, compared to analyst estimates of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. As a group, analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

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 the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $49.37, for a total value of $296,713.70. Following the transaction, the chief executive officer now directly owns 77,144 shares in the company, valued at $3,808,599.28. The trade was a 7.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas N. Schmitt sold 6,300 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $51.92, for a total transaction of $327,096.00. Following the completion of the transaction, the insider now owns 3,946 shares in the company, valued at approximately $204,876.32. This represents a 61.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,450 shares of company stock worth $1,369,342 in the last ninety days. 8.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several large investors have recently made changes to their positions in the stock. Summit Investment Advisors Inc. lifted its holdings in shares of Skyward Specialty Insurance Group by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company’s stock worth $196,000 after acquiring an additional 247 shares during the last quarter. IHT Wealth Management LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 4.6% in the 3rd quarter. IHT Wealth Management LLC now owns 10,501 shares of the company’s stock worth $428,000 after acquiring an additional 464 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Skyward Specialty Insurance Group by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,129 shares of the company’s stock worth $1,068,000 after acquiring an additional 748 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 756.1% in the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock worth $46,000 after acquiring an additional 809 shares during the last quarter. Finally, Riverwater Partners LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 2.5% in the 4th quarter. Riverwater Partners LLC now owns 35,013 shares of the company’s stock worth $1,770,000 after acquiring an additional 862 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.