Oppenheimer Asset Management Inc. Invests $241,000 in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Oppenheimer Asset Management Inc. purchased a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,561 shares of the company's stock, valued at approximately $241,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC lifted its stake 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 purchasing an additional 809 shares during the last quarter. ORG Wealth Partners LLC lifted its stake in shares of Skyward Specialty Insurance Group by 86.9% in the 1st quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company's stock valued at $123,000 after acquiring an additional 1,057 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock valued at $196,000 after acquiring an additional 247 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Skyward Specialty Insurance Group during the 4th quarter worth $219,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Skyward Specialty Insurance Group during the 4th quarter worth $230,000. Institutional investors own 94.83% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on SKWD. Truist Financial increased their target price on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Jefferies Financial Group downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and lowered their price objective for the company from $62.00 to $59.00 in a research note on Friday, April 11th. Keefe, Bruyette & Woods lifted 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 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, Barclays upped their price target on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a research report on Friday, April 11th. Four 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.75.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ SKWD traded down $1.93 during midday trading on Wednesday, reaching $54.53. The stock had a trading volume of 52,434 shares, compared to its average volume of 365,087. The company's 50 day moving average price is $59.20 and its 200 day moving average price is $52.76. Skyward Specialty Insurance Group, Inc. has a twelve month low of $34.10 and a twelve month high of $65.05. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 18.16 and a beta of 0.65.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released 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. 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 10.23% and a return on equity of 16.80%. During the same quarter in the previous year, the business earned $0.75 earnings per share. Equities analysts forecast 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, CFO Mark W. Haushill sold 52,748 shares of the firm's stock in a transaction on 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 completion of the sale, the chief financial officer directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Kirby Hill sold 8,249 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were 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 in the company, valued at $502,116.63. This represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders own 7.86% of the company's stock.

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.