Short Interest in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Declines By 21.8%

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

Skyward Specialty Insurance Group Stock Performance

Shares of Skyward Specialty Insurance Group stock traded up $1.60 during midday trading on Monday, reaching $43.73. 393,435 shares of the company’s stock traded hands, compared to its average volume of 530,302. The company has a market cap of $1.95 billion, a PE ratio of 10.74 and a beta of 0.54. The stock has a 50 day moving average of $45.18 and a 200-day moving average of $46.91. Skyward Specialty Insurance Group has a 12 month low of $40.60 and a 12 month high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings results on Monday, February 23rd. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.21. The business had revenue of $385.59 million for the quarter, compared to analysts’ expectations of $380.86 million. Skyward Specialty Insurance Group had a net margin of 12.00% and a return on equity of 17.98%. During the same quarter in the previous year, the business posted $0.80 earnings per share. On average, equities analysts anticipate that Skyward Specialty Insurance Group will post 3.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SKWD has been the topic of several recent analyst reports. Piper Sandler cut their target price on shares of Skyward Specialty Insurance Group from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Citigroup reiterated a “market outperform” rating on shares of Skyward Specialty Insurance Group in a report on Friday, January 16th. Raymond James Financial set a $66.00 price target on shares of Skyward Specialty Insurance Group in a report on Friday, December 5th. Barclays set a $63.00 price objective on shares of Skyward Specialty Insurance Group in a research report on Thursday, January 8th. Finally, Zacks Research downgraded shares of Skyward Specialty Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.80.

Insider Transactions at Skyward Specialty Insurance Group

In related news, Director Christopher Locke Peirce purchased 3,200 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average cost of $47.30 per share, for a total transaction of $151,360.00. Following the transaction, the director directly owned 3,200 shares in the company, valued at $151,360. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anthony J. Kuczinski purchased 2,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was bought at an average cost of $48.79 per share, for a total transaction of $97,580.00. Following the completion of the purchase, the director directly owned 10,903 shares in the company, valued at approximately $531,957.37. This trade represents a 22.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 30,500 shares of company stock worth $1,433,546. Company insiders own 7.86% of the company’s stock.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of SKWD. Financial Management Professionals Inc. purchased a new stake in Skyward Specialty Insurance Group in the fourth quarter worth about $27,000. GAMMA Investing LLC raised its position in shares of Skyward Specialty Insurance Group by 75.8% in the 4th quarter. GAMMA Investing LLC now owns 575 shares of the company’s stock worth $29,000 after acquiring an additional 248 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Skyward Specialty Insurance Group by 1,210.5% in the 3rd quarter. Assetmark Inc. now owns 747 shares of the company’s stock valued at $36,000 after purchasing an additional 690 shares during the period. Quarry LP lifted its stake in shares of Skyward Specialty Insurance Group by 558.9% in the 3rd quarter. Quarry LP now owns 995 shares of the company’s stock valued at $47,000 after purchasing an additional 844 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter valued at approximately $65,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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.