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

Calamos Advisors LLC decreased its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 39.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,406 shares of the company's stock after selling 23,840 shares during the period. Calamos Advisors LLC owned 0.09% of Skyward Specialty Insurance Group worth $1,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SKWD. Bank of New York Mellon Corp increased its stake in shares of Skyward Specialty Insurance Group by 11.3% in the fourth quarter. Bank of New York Mellon Corp now owns 122,402 shares of the company's stock worth $6,186,000 after purchasing an additional 12,391 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 283,629 shares of the company's stock worth $14,335,000 after acquiring an additional 3,687 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Skyward Specialty Insurance Group in the 4th quarter worth approximately $3,191,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Skyward Specialty Insurance Group in the 4th quarter worth approximately $230,000. Finally, Moran Wealth Management LLC acquired a new position in Skyward Specialty Insurance Group during the 4th quarter worth $477,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Buying and Selling at Skyward Specialty Insurance Group

In related news, Chairman Kirby Hill sold 8,249 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $60.87, for a total transaction of $502,116.63. Following the completion of the transaction, the chairman directly owned 8,249 shares of the company's stock, valued at $502,116.63. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark W. Haushill sold 52,748 shares of the firm's stock in a transaction 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 transaction, the chief financial officer directly owned 133,629 shares of the company's stock, valued at approximately $7,852,040.04. This represents a 28.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SKWD has been the topic of a number of analyst reports. Jefferies Financial Group downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and cut their price target for the company from $62.00 to $59.00 in a research note on Friday, April 11th. Piper Sandler increased their target price on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Keefe, Bruyette & Woods increased their target price on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. Citigroup restated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Finally, JMP Securities lifted their target price on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $61.75.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ SKWD traded up $0.03 during midday trading on Tuesday, reaching $54.96. The company's stock had a trading volume of 74,821 shares, compared to its average volume of 368,544. The company has a market cap of $2.22 billion, a P/E ratio of 18.32 and a beta of 0.65. The business's 50 day moving average price is $59.37 and its two-hundred day moving average price is $52.90. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $34.10 and a fifty-two week high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued 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. Skyward Specialty Insurance Group had a return on equity of 16.80% and a net margin of 10.23%. The business had revenue of $328.53 million during the quarter, compared to analysts' expectations of $310.94 million. During the same period in the previous year, the company posted $0.75 earnings per share. Sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share 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.