Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. has reduced its stake in Skyward Specialty Insurance Group by 4.4%, owning 464,815 shares valued at approximately $24.6 million after selling 21,233 shares during the first quarter.
• Other institutional investors, such as Vanguard Group Inc. and Invesco Ltd., have also adjusted their holdings, with Price T Rowe Associates Inc. increasing their stake by 37.1% in the fourth quarter.
• Skyward Specialty has reported $0.89 earnings per share for the last quarter, beating estimates, while analysts have varied predictions for future performance, with a consensus price target of $61.75.

Federated Hermes Inc. trimmed its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 464,815 shares of the company's stock after selling 21,233 shares during the period. Federated Hermes Inc. owned approximately 1.15% of Skyward Specialty Insurance Group worth $24,598,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sterling Capital Management LLC raised its stake in Skyward Specialty Insurance Group by 756.1% in the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock valued at $46,000 after buying an additional 809 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Skyward Specialty Insurance Group in the 1st quarter valued at approximately $67,000. KBC Group NV acquired a new stake in Skyward Specialty Insurance Group in the 1st quarter worth approximately $81,000. ORG Wealth Partners LLC raised its position 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 worth $123,000 after buying an additional 1,057 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in shares of Skyward Specialty Insurance Group during the 1st quarter worth about $179,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, Chairman Kirby Hill sold 8,249 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $60.87, for a total value of $502,116.63. Following the sale, the chairman directly owned 8,249 shares of the company's stock, valued at approximately $502,116.63. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark W. Haushill sold 52,748 shares of the firm'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 transaction of $3,099,472.48. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.01% of the company's stock.

Wall Street Analyst Weigh In

SKWD has been the subject of a number of analyst reports. Wall Street Zen cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday. Truist Financial increased their price objective on 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. Keefe, Bruyette & Woods raised their target price on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 29th. Piper Sandler cut their price target on Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating for the company in a report on Friday. Finally, Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $60.88.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD stock traded down $1.76 during midday trading on Tuesday, reaching $47.82. 305,397 shares of the company traded hands, compared to its average volume of 422,532. The firm has a market cap of $1.93 billion, a PE ratio of 15.05 and a beta of 0.62. The firm's 50 day simple moving average is $56.48 and its two-hundred day simple moving average is $53.60. Skyward Specialty Insurance Group, Inc. has a 1-year low of $34.10 and a 1-year high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. Skyward Specialty Insurance Group had a net margin of 10.53% and a return on equity of 16.84%. The business had revenue of $319.90 million for the quarter, compared to analyst estimates of $324.64 million. During the same period in the prior year, the business earned $0.80 earnings per share. As a group, research analysts anticipate 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.