Janney Montgomery Scott LLC Purchases New Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Janney Montgomery Scott LLC bought a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,277 shares of the company's stock, valued at approximately $544,000.

Other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC grew its position in Skyward Specialty Insurance Group by 756.1% in 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 in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Skyward Specialty Insurance Group by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock valued at $196,000 after purchasing an additional 247 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Skyward Specialty Insurance Group in the fourth quarter valued at approximately $219,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Skyward Specialty Insurance Group in the fourth quarter valued at approximately $230,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Skyward Specialty Insurance Group in the fourth quarter valued at approximately $244,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Price Performance

Shares of Skyward Specialty Insurance Group stock traded up $1.53 during trading hours on Friday, hitting $56.37. The company had a trading volume of 349,814 shares, compared to its average volume of 370,142. The company's 50-day moving average is $59.33 and its two-hundred day moving average is $52.85. Skyward Specialty Insurance Group, Inc. has a twelve month low of $34.10 and a twelve month high of $65.05. The company has a market cap of $2.28 billion, a P/E ratio of 18.79 and a beta of 0.65.

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

Insider Buying and Selling

In other Skyward Specialty Insurance Group news, Chairman Kirby Hill sold 8,249 shares of Skyward Specialty Insurance Group 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 transaction, the chairman owned 8,249 shares of the company's stock, valued at $502,116.63. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 transaction, the chief financial officer owned 133,629 shares in the company, valued at approximately $7,852,040.04. This trade represents a 28.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SKWD. Jefferies Financial Group cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and lowered their target price for the stock from $62.00 to $59.00 in a research note on Friday, April 11th. Citigroup reissued an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Barclays raised their target price on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a report on Friday, April 11th. Truist Financial lifted their price target on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, JMP Securities increased their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a research report on Friday, May 2nd. Four equities 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's stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group has an average rating of "Moderate Buy" and a consensus target price of $61.75.

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.