Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stake Lowered by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust trimmed its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 24.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 549,402 shares of the company's stock after selling 177,000 shares during the period. Skyward Specialty Insurance Group accounts for approximately 1.7% of Emerald Mutual Fund Advisers Trust's holdings, making the stock its 9th largest holding. Emerald Mutual Fund Advisers Trust owned approximately 1.37% of Skyward Specialty Insurance Group worth $27,767,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Skyward Specialty Insurance Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company's stock worth $114,990,000 after purchasing an additional 16,572 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Skyward Specialty Insurance Group by 54.0% in the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock valued at $79,744,000 after purchasing an additional 553,389 shares in the last quarter. Invesco Ltd. boosted its position in Skyward Specialty Insurance Group by 9.1% during the fourth quarter. Invesco Ltd. now owns 1,217,329 shares of the company's stock valued at $61,524,000 after purchasing an additional 102,042 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Skyward Specialty Insurance Group by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company's stock valued at $58,860,000 after buying an additional 47,363 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Skyward Specialty Insurance Group by 37.1% in 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 buying an additional 283,749 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on SKWD. Barclays lifted their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a "hold" rating and a $43.00 target price on the stock. JMP Securities reissued a "market outperform" rating and set a $60.00 target price on shares of Skyward Specialty Insurance Group in a report on Monday, February 10th. Piper Sandler decreased their price objective on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Finally, Jefferies Financial Group downgraded shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and lowered their target price for the stock from $62.00 to $59.00 in a research note on Friday, April 11th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.00.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ:SKWD traded up $0.48 during trading hours on Thursday, hitting $53.57. The company's stock had a trading volume of 452,612 shares, compared to its average volume of 381,932. Skyward Specialty Insurance Group, Inc. has a 52 week low of $33.42 and a 52 week high of $56.98. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 0.81 and a beta of 0.63. The firm's fifty day moving average price is $51.77 and its 200 day moving average price is $49.49.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same period in the prior year, the company posted $0.75 EPS. On average, equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider John A. Burkhart III sold 4,832 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the sale, the insider now directly owns 17,655 shares in the company, valued at $886,987.20. The trade was a 21.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas N. Schmitt sold 6,300 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the transaction, the insider now directly owns 3,946 shares of the company's stock, valued at approximately $204,876.32. This represents a 61.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,132 shares of company stock worth $620,476 over the last ninety days. Corporate insiders own 8.01% of the company's stock.

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.