Blair William & Co. IL Sells 7,900 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Key Points

• Blair William & Co. IL reduced its stake in Skyward Specialty Insurance Group by 24.5% during the first quarter, holding 24,322 shares valued at approximately $1.29 million.
• Skyward Specialty Insurance Group reported $0.89 earnings per share (EPS) for the last quarter, exceeding expectations by $0.03, though revenue fell short of estimates at $319.90 million.
• Several analysts have adjusted their price targets for Skyward Specialty, with Piper Sandler lowering it from $69 to $59, while Truist Financial increased theirs from $61 to $70, reflecting varying optimism among investment firms.

Blair William & Co. IL lowered its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 24.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,322 shares of the company's stock after selling 7,900 shares during the period. Blair William & Co. IL owned approximately 0.06% of Skyward Specialty Insurance Group worth $1,287,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKWD. Sterling Capital Management LLC lifted its holdings in shares of Skyward Specialty Insurance Group by 756.1% during the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock valued at $46,000 after purchasing an additional 809 shares in the last quarter. LRI Investments LLC bought a new position in shares of Skyward Specialty Insurance Group during the 1st quarter valued at about $67,000. KBC Group NV bought a new position in shares of Skyward Specialty Insurance Group during the 1st quarter valued at about $81,000. ORG Wealth Partners LLC lifted its holdings in shares of 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 valued at $123,000 after purchasing an additional 1,057 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new position in shares of Skyward Specialty Insurance Group during the 1st quarter valued at about $179,000. Institutional investors own 94.83% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Truist Financial lifted their target price on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods lifted their target price on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 29th. Wall Street Zen lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. JMP Securities lifted their target price on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a research report on Friday, May 2nd. Finally, Citigroup reissued an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Four equities research 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 stock has a consensus rating of "Moderate Buy" and an average target price of $60.88.

Insider Buying and Selling 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 stock was sold at an average price of $58.76, for a total transaction of $3,099,472.48. Following the transaction, the chief financial officer directly owned 133,629 shares of the company's stock, valued at approximately $7,852,040.04. The trade was a 28.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.01% of the company's stock.

Skyward Specialty Insurance Group Stock Down 2.4%

Shares of SKWD stock traded down $1.19 during trading on Thursday, reaching $48.60. 144,345 shares of the company's stock were exchanged, compared to its average volume of 421,473. The stock has a market capitalization of $1.97 billion, a PE ratio of 15.28 and a beta of 0.62. Skyward Specialty Insurance Group, Inc. has a twelve month low of $37.01 and a twelve month high of $65.05. The firm's fifty day moving average price is $54.51 and its 200-day moving average price is $53.73.

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