Capital World Investors Invests $41.18 Million in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Capital World Investors acquired a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 814,834 shares of the company's stock, valued at approximately $41,182,000. Capital World Investors owned approximately 2.03% of Skyward Specialty Insurance Group as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC increased its stake 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 valued at $46,000 after acquiring an additional 809 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Skyward Specialty Insurance Group in the 4th quarter valued at about $61,000. Summit Investment Advisors Inc. lifted its position in 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 acquiring an additional 247 shares in the last quarter. Pinnacle Financial Partners Inc bought a new position in Skyward Specialty Insurance Group in the 4th quarter valued at about $220,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Skyward Specialty Insurance Group in the 4th quarter valued at about $230,000. Institutional investors own 94.83% of the company's stock.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, insider John A. Burkhart III sold 4,832 shares of Skyward Specialty Insurance Group stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total transaction of $242,759.68. Following the completion of the sale, the insider now directly owns 17,655 shares of the company's stock, valued at approximately $886,987.20. The trade was a 21.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas N. Schmitt sold 6,300 shares of Skyward Specialty Insurance Group stock in a transaction 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 sale, the insider now directly owns 3,946 shares of the company's stock, valued at $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 sold a total of 12,132 shares of company stock valued at $620,476 in the last three months. Company insiders own 8.01% of the company's stock.

Skyward Specialty Insurance Group Price Performance

NASDAQ:SKWD traded down $2.21 during trading hours on Friday, hitting $52.06. The stock had a trading volume of 471,107 shares, compared to its average volume of 382,578. The company has a 50 day simple moving average of $51.53 and a two-hundred day simple moving average of $49.38. Skyward Specialty Insurance Group, Inc. has a one year low of $33.42 and a one year high of $56.98. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 0.81 and a beta of 0.63.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 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 firm had revenue of $304.40 million during the quarter, compared to the consensus estimate of $295.56 million. Equities research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Analysts Set New Price Targets

SKWD has been the topic of several recent research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $60.00 price target on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th. Truist Financial raised their price target on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Keefe, Bruyette & Woods decreased their price objective on shares of Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Barclays increased their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a research note on Friday, April 11th. 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. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.00.

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.