Bank of America Corp DE Has $7.29 Million Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Bank of America Corp DE lifted its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 18.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 144,256 shares of the company's stock after purchasing an additional 22,570 shares during the quarter. Bank of America Corp DE owned 0.36% of Skyward Specialty Insurance Group worth $7,291,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Skyward Specialty Insurance Group by 0.7% in the fourth 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 in 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 buying an additional 553,389 shares during the period. Invesco Ltd. lifted its holdings in shares of Skyward Specialty Insurance Group by 9.1% in the fourth quarter. Invesco Ltd. now owns 1,217,329 shares of the company's stock valued at $61,524,000 after buying an additional 102,042 shares during the period. Franklin Resources Inc. lifted its holdings 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 during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings 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 during the period. Institutional investors own 94.83% of the company's stock.

Skyward Specialty Insurance Group Stock Performance

SKWD traded down $1.02 during trading on Wednesday, reaching $60.86. The company had a trading volume of 232,838 shares, compared to its average volume of 373,974. The firm's 50-day simple moving average is $55.66 and its 200 day simple moving average is $51.45. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group, Inc. has a 12-month low of $33.42 and a 12-month high of $63.76.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. The firm had revenue of $328.53 million during the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.75 EPS. On average, sell-side analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, insider John A. Burkhart III sold 4,832 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.24, for a total value of $242,759.68. Following the transaction, the insider now directly owns 17,655 shares of the company's stock, valued at $886,987.20. This represents a 21.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Kirby Hill sold 8,249 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $60.87, for a total value of $502,116.63. Following the completion of the transaction, the chairman now directly owns 8,249 shares in the company, valued at approximately $502,116.63. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,381 shares of company stock worth $1,122,592 in the last quarter. 8.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on SKWD shares. Keefe, Bruyette & Woods upped their price objective on Skyward Specialty Insurance Group from $57.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Barclays upped their price objective on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a report on Friday, April 11th. Jefferies Financial Group lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and cut their price objective for the company from $62.00 to $59.00 in a report on Friday, April 11th. Wolfe Research restated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Finally, JMP Securities upped their target price 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. 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $61.13.

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.