Janney Montgomery Scott LLC Makes New $544,000 Investment in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Janney Montgomery Scott LLC purchased a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,277 shares of the company's stock, valued at approximately $544,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its stake in Skyward Specialty Insurance Group by 756.1% during the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock valued at $46,000 after acquiring an additional 809 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in Skyward Specialty Insurance Group by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock valued at $196,000 after buying an additional 247 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth about $219,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter worth $230,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter worth approximately $244,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SKWD shares. Piper Sandler upped their target price on 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. JMP Securities boosted their price objective on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods lifted 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 reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Finally, Jefferies Financial Group downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and dropped their target price for the company from $62.00 to $59.00 in a report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Skyward Specialty Insurance Group has an average rating of "Moderate Buy" and an average price target of $61.75.

Insiders Place Their Bets

In related news, CFO Mark W. Haushill sold 52,748 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $58.76, for a total value of $3,099,472.48. Following the sale, the chief financial officer owned 133,629 shares of the company's stock, valued at $7,852,040.04. The trade was a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Kirby Hill sold 8,249 shares of Skyward Specialty Insurance Group stock in a transaction 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 transaction, the chairman directly owned 8,249 shares of the company's stock, valued at approximately $502,116.63. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.01% of the stock is owned by insiders.

Skyward Specialty Insurance Group Stock Down 2.9%

Shares of Skyward Specialty Insurance Group stock opened at $54.84 on Thursday. Skyward Specialty Insurance Group, Inc. has a 12-month low of $34.10 and a 12-month high of $65.05. The stock has a 50 day moving average price of $59.20 and a two-hundred day moving average price of $52.77. The stock has a market capitalization of $2.22 billion, a P/E ratio of 18.28 and a beta of 0.65.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) 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 business had revenue of $328.53 million for the quarter, compared to analyst estimates of $310.94 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Sell-side analysts anticipate 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.

Want to see what other hedge funds are holding SKWD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.