Skyward Specialty Insurance Group, Inc. $SKWD Stock Position Lowered by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its holdings in Skyward Specialty Insurance Group by 64.2%, selling over 1 million shares to own approximately 1.40% of the company, valued at nearly $29.9 million.
• Several institutional investors have recently adjusted their positions in Skyward Specialty Insurance Group, with Reinhart Partners LLC acquiring a new stake worth nearly $50 million.
• Skyward Specialty Insurance Group reported a quarterly earnings per share (EPS) of $0.89, exceeding analysts' expectations, although its revenue fell short against projections.

American Century Companies Inc. cut its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 64.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 564,633 shares of the company's stock after selling 1,013,213 shares during the period. American Century Companies Inc. owned about 1.40% of Skyward Specialty Insurance Group worth $29,880,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sterling Capital Management LLC boosted its stake in Skyward Specialty Insurance Group by 756.1% in the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock valued at $46,000 after acquiring an additional 809 shares during the period. LRI Investments LLC acquired a new position in Skyward Specialty Insurance Group during the 1st quarter valued at approximately $67,000. KBC Group NV bought a new position in Skyward Specialty Insurance Group during the 1st quarter worth $81,000. ORG Wealth Partners LLC grew its stake in Skyward Specialty Insurance Group by 86.9% during the 1st quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company's stock worth $123,000 after buying an additional 1,057 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in Skyward Specialty Insurance Group in the first quarter worth $179,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Wall Street Analysts Forecast Growth

SKWD has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 29th. Piper Sandler decreased their price objective on Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Citigroup restated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Wall Street Zen lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.88.

Insider Activity at Skyward Specialty Insurance Group

In related news, CFO Mark W. Haushill sold 52,748 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 133,629 shares in the company, valued at $7,852,040.04. The trade was a 28.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.86% of the stock is owned by insiders.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD traded up $0.12 during midday trading on Friday, reaching $49.56. The stock had a trading volume of 301,599 shares, compared to its average volume of 446,860. The company has a market capitalization of $2.01 billion, a P/E ratio of 15.02 and a beta of 0.62. The firm's 50 day moving average price is $52.91 and its 200-day moving average price is $53.98. Skyward Specialty Insurance Group, Inc. has a 52 week low of $37.79 and a 52 week high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.40% and a net margin of 10.53%.The firm had revenue of $319.90 million for the quarter, compared to analyst estimates of $324.64 million. During the same period in the previous year, the company earned $0.80 earnings per share. On average, equities analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

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.