Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Sees Large Decline in Short Interest

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) was the recipient of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 1,356,215 shares, a decrease of 21.8% from the February 26th total of 1,733,602 shares. Approximately 3.3% of the company’s stock are short sold. Based on an average daily volume of 531,096 shares, the days-to-cover ratio is currently 2.6 days.

Insider Activity at Skyward Specialty Insurance Group

In related news, Director Anthony J. Kuczinski bought 1,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were bought at an average price of $48.13 per share, for a total transaction of $48,130.00. Following the completion of the purchase, the director directly owned 11,903 shares of the company’s stock, valued at approximately $572,891.39. This trade represents a 9.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew S. Robinson bought 22,100 shares of Skyward Specialty Insurance Group stock in a transaction on Friday, February 27th. The stock was purchased at an average price of $46.76 per share, with a total value of $1,033,396.00. Following the completion of the acquisition, the chief executive officer directly owned 167,674 shares of the company’s stock, valued at $7,840,436.24. This represents a 15.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 30,500 shares of company stock valued at $1,433,546 over the last quarter. 7.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently bought and sold shares of SKWD. Integrated Wealth Concepts LLC lifted its stake in Skyward Specialty Insurance Group by 30.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,285 shares of the company’s stock valued at $332,000 after acquiring an additional 1,456 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Skyward Specialty Insurance Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,096 shares of the company’s stock worth $1,169,000 after purchasing an additional 967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Skyward Specialty Insurance Group by 16.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,804 shares of the company’s stock valued at $5,282,000 after purchasing an additional 14,217 shares during the period. Jane Street Group LLC lifted its position in Skyward Specialty Insurance Group by 286.1% during the first quarter. Jane Street Group LLC now owns 33,768 shares of the company’s stock valued at $1,787,000 after purchasing an additional 25,022 shares during the period. Finally, Creative Planning boosted its holdings in Skyward Specialty Insurance Group by 81.1% in the second quarter. Creative Planning now owns 14,935 shares of the company’s stock valued at $863,000 after purchasing an additional 6,690 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ SKWD traded up $0.07 during mid-day trading on Tuesday, hitting $43.80. The stock had a trading volume of 159,734 shares, compared to its average volume of 523,835. The firm has a market cap of $1.95 billion, a PE ratio of 10.77 and a beta of 0.54. The company has a 50 day moving average of $45.12 and a two-hundred day moving average of $46.89. Skyward Specialty Insurance Group has a twelve month low of $40.60 and a twelve month high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Monday, February 23rd. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.21. Skyward Specialty Insurance Group had a return on equity of 17.98% and a net margin of 12.00%.The company had revenue of $385.59 million during the quarter, compared to analysts’ expectations of $380.86 million. During the same quarter in the previous year, the firm posted $0.80 EPS. Equities research analysts predict that Skyward Specialty Insurance Group will post 3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SKWD shares. Piper Sandler decreased their target price on shares of Skyward Specialty Insurance Group from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Zacks Research lowered shares of Skyward Specialty Insurance Group from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Keefe, Bruyette & Woods raised Skyward Specialty Insurance Group from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, March 13th. Raymond James Financial set a $66.00 price objective on Skyward Specialty Insurance Group in a report on Friday, December 5th. Finally, Citizens Jmp set a $80.00 price objective on Skyward Specialty Insurance Group in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $65.80.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc (NASDAQ: SKWD) is a publicly traded specialty property and casualty insurance underwriter. The company focuses on niche market segments, offering tailored insurance solutions designed to address the specific risk profiles of its target industries.

Through its underwriting platform, Skyward Specialty provides coverage in areas including general liability, professional liability, commercial package, inland marine and other selected specialty lines. Its products are distributed primarily through a network of wholesale brokers, program administrators and managing general agents, enabling the company to reach a diverse client base and adapt quickly to evolving market needs.

Headquartered in the United States, Skyward Specialty Insurance Group operates across multiple states and applies data-driven underwriting and risk management practices to maintain disciplined reserving and consistent performance.