Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Short Interest Down 12.4% in March

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 637,800 shares, a drop of 12.4% from the February 28th total of 728,100 shares. Based on an average trading volume of 391,200 shares, the short-interest ratio is currently 1.6 days. Approximately 1.8% of the company’s shares are short sold.

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 value of $296,713.70. Following the completion of the transaction, the chief executive officer now directly owns 77,144 shares of the company’s stock, valued at $3,808,599.28. The trade was a 7.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas N. Schmitt sold 6,300 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $51.92, for a total transaction of $327,096.00. Following the sale, the insider now owns 3,946 shares in the company, valued at $204,876.32. This trade represents a 61.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,450 shares of company stock worth $1,369,342 over the last three months. Insiders own 8.01% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds have recently made changes to their positions in SKWD. 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 valued at $196,000 after purchasing an additional 247 shares during the last quarter. IHT Wealth Management LLC lifted its stake in Skyward Specialty Insurance Group by 4.6% in the third quarter. IHT Wealth Management LLC now owns 10,501 shares of the company’s stock valued at $428,000 after buying an additional 464 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Skyward Specialty Insurance Group by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,129 shares of the company’s stock valued at $1,068,000 after acquiring an additional 748 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Skyward Specialty Insurance Group by 756.1% in the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company’s stock valued at $46,000 after acquiring an additional 809 shares during the period. Finally, Riverwater Partners LLC grew its position in shares of Skyward Specialty Insurance Group by 2.5% during the fourth 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. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Skyward Specialty Insurance Group from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Barclays raised Skyward Specialty Insurance Group from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $53.00 to $63.00 in a research report on Friday, March 14th. Truist Financial boosted their price objective on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. 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. Finally, Piper Sandler decreased their price target 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 research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Skyward Specialty Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $56.25.

Skyward Specialty Insurance Group Stock Up 2.0 %

Shares of SKWD opened at $53.99 on Wednesday. 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 $49.07 and a 200 day moving average price of $47.85. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 0.81 and a beta of 0.67.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The business had revenue of $304.40 million during the quarter, compared to analysts’ expectations of $295.56 million. On average, equities analysts anticipate that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

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.