Bryce Point Capital LLC Buys Shares of 13,533 Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Key Points

• Bryce Point Capital LLC purchased 13,533 shares of Skyward Specialty Insurance Group (NASDAQ: SKWD), worth approximately $683,000, during the first quarter, reflecting significant institutional interest in the company.
• Chairman Kirby Hill and CFO Mark W. Haushill both sold significant amounts of their stock, with Hill selling 8,249 shares and Haushill selling 52,748 shares, indicating a possible reduction in insider holdings.
• Skyward Specialty Insurance Group recently reported better-than-expected quarterly earnings, achieving $0.90 per share against an estimate of $0.78, with a revenue of $328.53 million beating analyst projections.

Bryce Point Capital LLC acquired a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,533 shares of the company's stock, valued at approximately $683,000.

Several other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Skyward Specialty Insurance Group during the 1st quarter worth $631,000. Janney Montgomery Scott LLC acquired a new position in shares of Skyward Specialty Insurance Group during the first quarter worth $544,000. GAMMA Investing LLC increased its holdings in shares of Skyward Specialty Insurance Group by 6,374.4% during the first quarter. GAMMA Investing LLC now owns 17,675 shares of the company's stock worth $935,000 after buying an additional 17,402 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Skyward Specialty Insurance Group during the first quarter worth $1,280,000. Finally, Principal Financial Group Inc. increased its holdings in Skyward Specialty Insurance Group by 17.2% in the 1st quarter. Principal Financial Group Inc. now owns 92,798 shares of the company's stock worth $4,911,000 after purchasing an additional 13,635 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, CFO Mark W. Haushill sold 52,748 shares of Skyward Specialty Insurance Group stock in a transaction on Friday, June 13th. The shares were sold at an average price of $58.76, for a total transaction of $3,099,472.48. Following the completion of the sale, 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 SEC, which is accessible through this link. Also, Chairman Kirby Hill sold 8,249 shares of the business's stock in a transaction that occurred 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 sale, the chairman owned 8,249 shares of the company's stock, valued at $502,116.63. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. 8.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SKWD has been the subject of several recent research reports. Piper Sandler increased their price target on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods lifted their price objective on 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. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Truist Financial lifted their price objective on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Barclays lifted their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of "Moderate Buy" and an average target price of $61.75.

Skyward Specialty Insurance Group Stock Up 4.6%

SKWD traded up $2.26 during trading on Thursday, hitting $51.70. 425,673 shares of the company traded hands, compared to its average volume of 421,526. Skyward Specialty Insurance Group, Inc. has a one year low of $34.10 and a one year high of $65.05. The stock's fifty day moving average is $57.14 and its 200 day moving average is $53.37. The firm has a market cap of $2.09 billion, a P/E ratio of 17.23 and a beta of 0.65.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued 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. Skyward Specialty Insurance Group had a net margin of 10.23% and a return on equity of 16.80%. The firm had revenue of $319.90 million during the quarter, compared to analyst estimates of $324.64 million. During the same quarter last year, the business earned $0.80 earnings per share. On average, equities research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

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.