BNP Paribas Financial Markets Takes $1.65 Million Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

BNP Paribas Financial Markets purchased a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,665 shares of the company's stock, valued at approximately $1,651,000. BNP Paribas Financial Markets owned about 0.08% of Skyward Specialty Insurance Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of SKWD. Capital World Investors acquired a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter worth approximately $41,182,000. American Century Companies Inc. grew its holdings in Skyward Specialty Insurance Group by 54.0% during the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock worth $79,744,000 after acquiring an additional 553,389 shares in the last quarter. WCM Investment Management LLC acquired a new position in Skyward Specialty Insurance Group during the 4th quarter worth $18,084,000. Swedbank AB bought a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth about $15,164,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Skyward Specialty Insurance Group by 37.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company's stock valued at $52,995,000 after purchasing an additional 283,749 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SKWD. Truist Financial lifted their price target on 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. Barclays increased their target price on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a report on Friday, April 11th. JMP Securities boosted 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. Piper Sandler raised their price objective on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $61.13.

Skyward Specialty Insurance Group Price Performance

NASDAQ:SKWD traded down $1.43 during midday trading on Thursday, reaching $60.47. 287,098 shares of the company traded hands, compared to its average volume of 375,350. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64. The company has a fifty day moving average price of $54.74 and a 200 day moving average price of $51.00. Skyward Specialty Insurance Group, Inc. has a twelve month low of $33.42 and a twelve month high of $63.76.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. The company had revenue of $328.53 million during the quarter, compared to the consensus estimate of $310.94 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same quarter in the previous year, the company posted $0.75 earnings per share. On average, equities research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Activity at Skyward Specialty Insurance Group

In other news, Chairman Kirby Hill sold 8,249 shares of the stock in a transaction on 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 owns 8,249 shares of the company's stock, valued at approximately $502,116.63. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gena L. Ashe sold 1,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.62, for a total transaction of $50,620.00. Following the sale, the director now owns 734 shares in the company, valued at approximately $37,155.08. This represents a 57.67% decrease in their ownership of the stock. 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. 7.86% of the stock is owned by insiders.

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.