Driehaus Capital Management LLC Sells 19,448 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Driehaus Capital Management LLC cut its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital World Investors acquired a new stake in Skyward Specialty Insurance Group during the fourth quarter valued at approximately $41,182,000. American Century Companies Inc. lifted its position in shares of Skyward Specialty Insurance Group by 54.0% during the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock valued at $79,744,000 after acquiring an additional 553,389 shares during the last quarter. WCM Investment Management LLC bought a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth $18,084,000. Swedbank AB bought a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth $15,164,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Skyward Specialty Insurance Group by 37.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company's stock valued at $52,995,000 after purchasing an additional 283,749 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Insiders Place Their Bets

In related news, Director Gena L. Ashe sold 1,000 shares of the company's 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 sale, the director now owns 734 shares of the company's stock, valued at $37,155.08. The trade was a 57.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John A. Burkhart III sold 4,832 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the transaction, the insider now owns 17,655 shares of the company's stock, valued at approximately $886,987.20. This represents a 21.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,132 shares of company stock worth $620,476. 8.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Truist Financial boosted their price objective on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Piper Sandler raised their price objective on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods increased their price target on shares of Skyward Specialty Insurance Group from $57.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday. TD Cowen assumed coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a "hold" rating and a $43.00 price objective on the stock. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Skyward Specialty Insurance Group currently has an average rating of "Moderate Buy" and a consensus price target of $61.13.

Skyward Specialty Insurance Group Trading Up 0.5 %

NASDAQ SKWD traded up $0.27 during trading on Friday, hitting $59.88. 201,391 shares of the company traded hands, compared to its average volume of 373,446. The company has a market capitalization of $2.42 billion, a P/E ratio of 18.26, a PEG ratio of 0.81 and a beta of 0.64. The business has a fifty day simple moving average of $52.65 and a 200 day simple moving average of $50.11. Skyward Specialty Insurance Group, Inc. has a 12 month low of $33.42 and a 12 month high of $60.40.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results 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 analysts' expectations 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 quarter in the prior year, the business earned $0.75 earnings per share. Equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Skyward Specialty Insurance Group 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.