Graham Capital Management L.P. Cuts Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Graham Capital Management L.P. reduced its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 69.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,317 shares of the company's stock after selling 9,767 shares during the quarter. Graham Capital Management L.P.'s holdings in Skyward Specialty Insurance Group were worth $218,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Sterling Capital Management LLC boosted its holdings in Skyward Specialty Insurance Group by 756.1% during the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock worth $46,000 after purchasing an additional 809 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in Skyward Specialty Insurance Group by 6.8% during 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 during the last quarter. Hsbc Holdings PLC purchased a new position in Skyward Specialty Insurance Group during the fourth quarter worth about $219,000. Pinnacle Financial Partners Inc purchased a new position in Skyward Specialty Insurance Group during the fourth quarter worth about $220,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Skyward Specialty Insurance Group during the fourth quarter worth about $230,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Trading Up 0.8%

Shares of NASDAQ SKWD traded up $0.50 during midday trading on Friday, hitting $60.97. The company's stock had a trading volume of 264,888 shares, compared to its average volume of 374,954. The stock has a fifty day moving average price of $55.19 and a 200 day moving average price of $51.26. Skyward Specialty Insurance Group, Inc. has a one year low of $33.42 and a one year high of $63.76. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 0.81 and a beta of 0.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted 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. The business had revenue of $328.53 million for the quarter, compared to analyst estimates of $310.94 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same quarter in the prior year, the firm posted $0.75 EPS. On average, equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, insider John A. Burkhart III sold 4,832 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the completion of the transaction, the insider now owns 17,655 shares of the company's stock, valued at $886,987.20. The trade was a 21.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $502,116.63. Following the completion of the transaction, the chairman now directly owns 8,249 shares of the company's stock, valued at approximately $502,116.63. This represents a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,381 shares of company stock valued at $1,122,592. Company insiders own 7.86% of the company's stock.

Wall Street Analysts Forecast Growth

SKWD has been the topic of several analyst reports. JMP Securities boosted their price target on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating 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 stock a "buy" rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Piper Sandler lifted their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. 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's stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group currently has an average rating of "Moderate Buy" and an average price target of $61.13.

Skyward Specialty Insurance Group Company 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.