Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stake Cut by Driehaus Capital Management LLC

Driehaus Capital Management LLC decreased its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,215,672 shares of the company's stock after selling 19,448 shares during the period. Driehaus Capital Management LLC owned approximately 3.03% of Skyward Specialty Insurance Group worth $61,440,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SKWD. Barclays PLC boosted its position in Skyward Specialty Insurance Group by 277.7% during the third quarter. Barclays PLC now owns 64,032 shares of the company's stock valued at $2,608,000 after purchasing an additional 47,081 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Skyward Specialty Insurance Group by 32.9% in the third quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company's stock valued at $3,515,000 after acquiring an additional 21,346 shares during the period. Ellsworth Advisors LLC acquired a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth about $676,000. Y Intercept Hong Kong Ltd bought a new stake in Skyward Specialty Insurance Group during the fourth quarter worth about $880,000. Finally, Franklin Resources Inc. grew its stake in shares of Skyward Specialty Insurance Group by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company's stock valued at $45,506,000 after purchasing an additional 158,679 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Wall Street Analysts Forecast Growth

SKWD has been the subject of a number of recent analyst reports. Truist Financial upped their price target on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, May 5th. JMP Securities raised their price target on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a report on Friday, May 2nd. Citigroup reissued an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Piper Sandler boosted their price target on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, TD Cowen assumed coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a "hold" rating and a $43.00 target price for the company. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $61.13.

Skyward Specialty Insurance Group Stock Up 0.3%

Shares of SKWD stock traded up $0.20 on Tuesday, hitting $59.95. The stock had a trading volume of 107,473 shares, compared to its average volume of 372,800. The business has a 50 day moving average price of $52.80 and a 200 day moving average price of $50.23. The company has a market cap of $2.42 billion, a PE ratio of 18.28, a P/E/G ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group, Inc. has a one year low of $33.42 and a one year high of $60.93.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.12. The firm had revenue of $328.53 million during the quarter, compared to the consensus estimate of $310.94 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same period last year, the company earned $0.75 EPS. Equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insider Transactions at Skyward Specialty Insurance Group

In related news, insider John A. Burkhart III sold 4,832 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the sale, the insider now owns 17,655 shares of the company's stock, valued at $886,987.20. This trade represents a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gena L. Ashe sold 1,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.62, for a total value of $50,620.00. Following the completion of the transaction, the director now directly owns 734 shares in the company, valued at $37,155.08. This represents a 57.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,132 shares of company stock valued at $620,476. 8.01% of the stock is currently owned by corporate insiders.

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.