Bank of America Corp DE Purchases 22,570 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Bank of America Corp DE lifted its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 18.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 144,256 shares of the company's stock after acquiring an additional 22,570 shares during the quarter. Bank of America Corp DE owned about 0.36% of Skyward Specialty Insurance Group worth $7,291,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SKWD. Barclays PLC increased its stake in shares of 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 acquiring an additional 47,081 shares during the period. Kirr Marbach & Co. LLC IN bought a new stake in Skyward Specialty Insurance Group during the fourth quarter worth approximately $252,000. Swedbank AB bought a new stake in Skyward Specialty Insurance Group during the fourth quarter worth approximately $15,164,000. Calamos Advisors LLC boosted its holdings in Skyward Specialty Insurance Group by 3.4% during the fourth quarter. Calamos Advisors LLC now owns 60,246 shares of the company's stock worth $3,045,000 after buying an additional 1,995 shares in the last quarter. Finally, WCM Investment Management LLC bought a new stake in Skyward Specialty Insurance Group during the fourth quarter worth approximately $18,084,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Activity

In related news, Chairman Kirby Hill sold 8,249 shares of Skyward Specialty Insurance Group stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total value of $502,116.63. Following the completion of the sale, the chairman now owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas N. Schmitt sold 6,300 shares of Skyward Specialty Insurance Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $51.92, for a total transaction of $327,096.00. Following the completion of the sale, the insider now directly owns 3,946 shares of the company's stock, valued at approximately $204,876.32. The trade was a 61.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,381 shares of company stock worth $1,122,592 in the last ninety days. Corporate insiders own 8.01% of the company's stock.

Skyward Specialty Insurance Group Stock Up 0.4%

Shares of Skyward Specialty Insurance Group stock traded up $0.27 on Friday, hitting $62.22. 31,208 shares of the company traded hands, compared to its average volume of 371,832. The company has a 50-day moving average price of $56.07 and a 200 day moving average price of $51.60. Skyward Specialty Insurance Group, Inc. has a 12-month low of $33.42 and a 12-month high of $63.76. The company has a market cap of $2.51 billion, a PE ratio of 18.97, a PEG ratio of 0.81 and a beta of 0.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings results 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%. The business had revenue of $328.53 million for the quarter, compared to analysts' expectations of $310.94 million. During the same period in the previous year, the company posted $0.75 EPS. Equities research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Wolfe Research reiterated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. 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. Finally, Jefferies Financial Group cut shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $62.00 to $59.00 in a research report on Friday, April 11th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.75.

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.