By otakuyassine3@gmail.com 
Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD – Get Free Report) 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.
Analyst Ratings Changes
A number of brokerages have issued reports on SKWD. JMP Securities upped their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Barclays upped their target price on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Raymond James upped their price objective on shares of Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 5th. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They issued a “hold” rating and a $43.00 target price on the stock. Finally, Jefferies Financial Group boosted their price objective on Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.22.
Get Our Latest Report on Skyward Specialty Insurance Group
Skyward Specialty Insurance Group Price Performance
The firm has a market capitalization of $1.92 billion, a PE ratio of 14.61, a PEG ratio of 0.73 and a beta of 0.83. The firm has a 50-day simple moving average of $48.39 and a 200-day simple moving average of $44.60.
Insider Buying and Selling
In related news, insider Thomas N. Schmitt sold 546 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $46.85, for a total value of $25,580.10. Following the transaction, the insider now owns 10,246 shares of the company’s stock, valued at $480,025.10. This trade represents a 5.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Charles Hays sold 25,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total value of $1,350,000.00. Following the transaction, the director now owns 747,261 shares in the company, valued at approximately $40,352,094. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,318 shares of company stock worth $2,098,866. 8.01% of the stock is owned by insiders.
Hedge Funds Weigh In On Skyward Specialty Insurance Group
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SKWD. Arcadia Investment Management Corp MI acquired a new position in Skyward Specialty Insurance Group in the 3rd quarter valued at $41,000. ORG Wealth Partners LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at $61,000. Quarry LP increased its stake in Skyward Specialty Insurance Group by 176.9% during the third quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after purchasing an additional 879 shares during the period. CWM LLC boosted its position in Skyward Specialty Insurance Group by 3,103.1% in the 3rd quarter. CWM LLC now owns 4,132 shares of the company’s stock valued at $168,000 after buying an additional 4,003 shares during the period. Finally, Pinnacle Financial Partners Inc purchased a new position in shares of Skyward Specialty Insurance Group in the 4th quarter valued at about $220,000. 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.
Further Reading
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