Calamos Advisors LLC Sells 23,840 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Calamos Advisors LLC lessened its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 39.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,406 shares of the company's stock after selling 23,840 shares during the quarter. Calamos Advisors LLC owned approximately 0.09% of Skyward Specialty Insurance Group worth $1,927,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its position in shares of Skyward Specialty Insurance Group by 756.1% in the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock worth $46,000 after buying an additional 809 shares during the period. KBC Group NV acquired a new stake in Skyward Specialty Insurance Group during the 1st quarter worth about $81,000. ORG Wealth Partners LLC grew its stake in 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 acquiring an additional 1,057 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of Skyward Specialty Insurance Group in the 1st quarter valued at about $179,000. Finally, Summit Investment Advisors Inc. lifted its position in shares of Skyward Specialty Insurance Group by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock worth $196,000 after purchasing an additional 247 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Activity

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 52,748 shares of the company'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 value of $3,099,472.48. Following the completion of the transaction, the chief financial officer owned 133,629 shares of the company's stock, valued at $7,852,040.04. This represents a 28.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $60.87, for a total value of $502,116.63. Following the sale, the chairman owned 8,249 shares in the company, valued at approximately $502,116.63. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.86% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SKWD shares. Keefe, Bruyette & Woods upped their price objective on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. Jefferies Financial Group cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and reduced their price objective for the company from $62.00 to $59.00 in a research report on Friday, April 11th. Citigroup reaffirmed an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Truist Financial raised 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. Finally, Piper Sandler boosted 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. Four research 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.75.

Skyward Specialty Insurance Group Stock Down 1.9%

Shares of NASDAQ:SKWD traded down $1.08 during trading on Monday, reaching $54.93. The stock had a trading volume of 261,595 shares, compared to its average volume of 369,708. The stock has a fifty day simple moving average of $59.33 and a two-hundred day simple moving average of $52.87. Skyward Specialty Insurance Group, Inc. has a 52 week low of $34.10 and a 52 week high of $65.05. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 17.45 and a beta of 0.65.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.12. Skyward Specialty Insurance Group had a net margin of 10.23% and a return on equity of 16.80%. The firm had revenue of $328.53 million during the quarter, compared to analyst estimates of $310.94 million. During the same quarter in the previous year, the business earned $0.75 EPS. On average, analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current 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.