8,969 Shares in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd acquired 8,969 shares of Skyward Specialty Insurance Group, valued at approximately $475,000, as per their recent SEC filing.
• Skyward Specialty Insurance reported earnings of $0.89 per share for the last quarter, surpassing the consensus estimate of $0.86.
• Brokerage ratings for Skyward Specialty vary, with analysts providing a consensus rating of "Moderate Buy" and a target price of $60.88 for the company's stock.

XTX Topco Ltd purchased a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,969 shares of the company's stock, valued at approximately $475,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Skyward Specialty Insurance Group during the 1st quarter worth approximately $631,000. Janney Montgomery Scott LLC acquired a new stake in Skyward Specialty Insurance Group during the 1st quarter valued at $544,000. GAMMA Investing LLC raised its stake in Skyward Specialty Insurance Group by 6,374.4% during the 1st quarter. GAMMA Investing LLC now owns 17,675 shares of the company's stock valued at $935,000 after purchasing an additional 17,402 shares during the period. Penserra Capital Management LLC acquired a new stake in Skyward Specialty Insurance Group during the 1st quarter valued at $1,280,000. Finally, Envestnet Asset Management Inc. raised its stake in Skyward Specialty Insurance Group by 36.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 103,016 shares of the company's stock valued at $5,452,000 after purchasing an additional 27,669 shares during the period. Institutional investors and hedge funds own 94.83% of the company's stock.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ:SKWD traded down $0.16 during midday trading on Tuesday, hitting $48.76. The company's stock had a trading volume of 49,819 shares, compared to its average volume of 422,757. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 15.31 and a beta of 0.62. The stock's 50 day simple moving average is $55.09 and its 200 day simple moving average is $53.78. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $34.24 and a fifty-two week high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.03. The company had revenue of $319.90 million for the quarter, compared to the consensus estimate of $324.64 million. Skyward Specialty Insurance Group had a return on equity of 16.84% and a net margin of 10.53%. During the same period last year, the business posted $0.80 earnings per share. As a group, analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insider Activity

In related news, CFO Mark W. Haushill sold 52,748 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $58.76, for a total value of $3,099,472.48. Following the completion of the sale, the chief financial officer owned 133,629 shares in the company, valued at approximately $7,852,040.04. This trade represents a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Kirby Hill sold 8,249 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total transaction of $502,116.63. Following the completion of the sale, the chairman owned 8,249 shares of the company's stock, valued at approximately $502,116.63. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.86% of the company's stock.

Wall Street Analysts Forecast Growth

SKWD has been the topic of several recent analyst reports. JMP Securities boosted their target price on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a research note on Friday, May 2nd. Truist Financial upped their price target on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Citigroup reaffirmed an "outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Keefe, Bruyette & Woods upped their price target on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 29th. Finally, Wall Street Zen downgraded shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $60.88.

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.