Penserra Capital Management LLC Takes $1.28 Million Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Penserra Capital Management LLC bought a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 24,189 shares of the company's stock, valued at approximately $1,280,000. Penserra Capital Management LLC owned approximately 0.06% of Skyward Specialty Insurance Group as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SKWD. Bank of New York Mellon Corp lifted its holdings in Skyward Specialty Insurance Group by 11.3% during the fourth quarter. Bank of New York Mellon Corp now owns 122,402 shares of the company's stock valued at $6,186,000 after purchasing an additional 12,391 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Skyward Specialty Insurance Group by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 283,629 shares of the company's stock worth $14,335,000 after purchasing an additional 3,687 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Skyward Specialty Insurance Group in the 4th quarter valued at about $3,191,000. Ashton Thomas Private Wealth LLC acquired a new stake in Skyward Specialty Insurance Group in the 4th quarter worth about $230,000. Finally, Moran Wealth Management LLC purchased a new stake in Skyward Specialty Insurance Group during the 4th quarter worth approximately $477,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 52,748 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, June 13th. The shares were 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 trade represents a 28.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kirby Hill sold 8,249 shares of the 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 directly owned 8,249 shares of the company's stock, valued at $502,116.63. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. 8.01% of the stock is currently owned by insiders.

Skyward Specialty Insurance Group Stock Down 2.4%

NASDAQ:SKWD traded down $1.27 on Friday, hitting $52.13. The stock had a trading volume of 383,563 shares, compared to its average volume of 372,724. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 17.38 and a beta of 0.65. The company has a fifty day moving average price of $59.29 and a two-hundred day moving average price of $52.97. 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 posted its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.12. The company had revenue of $328.53 million for the quarter, compared to the consensus estimate of $310.94 million. Skyward Specialty Insurance Group had a return on equity of 16.80% and a net margin of 10.23%. During the same quarter in the previous year, the business earned $0.75 earnings per share. As a group, analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SKWD shares. Barclays lifted their price target on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating 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 note on Thursday, May 29th. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. 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 research report on Friday, May 2nd. Finally, Jefferies Financial Group cut shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and dropped their price objective for the company from $62.00 to $59.00 in a research note on Friday, April 11th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.75.

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.