Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock Position Lessened by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in Skyward Specialty Insurance Group by 9.2%, selling 39,661 shares, and now holds approximately 0.98% of the company valued at $20.8 million.
• Skyward Specialty Insurance Group has received mixed analyst ratings, with several targeting price cuts; its consensus target price is currently set at $60.88.
• The company's latest earnings report showed earnings per share of $0.89, surpassing analysts' estimates, although revenue fell short of expectations, totaling $319.9 million for the quarter.

Deutsche Bank AG trimmed its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 9.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 393,670 shares of the company's stock after selling 39,661 shares during the period. Deutsche Bank AG owned about 0.98% of Skyward Specialty Insurance Group worth $20,833,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SKWD. LPL Financial LLC increased its stake in shares of Skyward Specialty Insurance Group by 20.3% during the fourth quarter. LPL Financial LLC now owns 14,093 shares of the company's stock worth $712,000 after buying an additional 2,378 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Skyward Specialty Insurance Group by 86.1% during the fourth quarter. JPMorgan Chase & Co. now owns 160,647 shares of the company's stock worth $8,119,000 after buying an additional 74,345 shares during the period. Wells Fargo & Company MN increased its stake in shares of Skyward Specialty Insurance Group by 52.4% during the fourth quarter. Wells Fargo & Company MN now owns 27,507 shares of the company's stock worth $1,390,000 after buying an additional 9,461 shares during the period. Renaissance Technologies LLC increased its stake in Skyward Specialty Insurance Group by 11.7% in the fourth quarter. Renaissance Technologies LLC now owns 42,100 shares of the company's stock valued at $2,128,000 after purchasing an additional 4,400 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Skyward Specialty Insurance Group in the fourth quarter valued at approximately $3,191,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Mark W. Haushill sold 52,748 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 133,629 shares in the company, valued at $7,852,040.04. This represents a 28.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup reissued an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Piper Sandler dropped their price target on Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Truist Financial lifted their price target on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a report on Monday, May 5th. JMP Securities lifted 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. Finally, Wall Street Zen lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.88.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ SKWD traded down $0.84 during trading on Friday, reaching $47.70. The stock had a trading volume of 286,086 shares, compared to its average volume of 468,298. Skyward Specialty Insurance Group, Inc. has a one year low of $37.01 and a one year high of $65.05. The stock has a market cap of $1.93 billion, a PE ratio of 15.00 and a beta of 0.62. The firm's 50 day moving average price is $53.93 and its two-hundred day moving average price is $53.87.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. The firm had revenue of $319.90 million during the quarter, compared to the consensus estimate 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 prior year, the business earned $0.80 EPS. On average, research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current 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.