SG Americas Securities LLC Buys Shares of 11,924 Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

SG Americas Securities LLC bought a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 11,924 shares of the company's stock, valued at approximately $631,000.

Several other large investors have also recently made changes to their positions in SKWD. Navellier & Associates Inc. raised its stake in shares of Skyward Specialty Insurance Group by 40.6% during the fourth quarter. Navellier & Associates Inc. now owns 36,282 shares of the company's stock worth $1,834,000 after acquiring an additional 10,478 shares in the last quarter. Pinnacle Financial Partners Inc purchased a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth $220,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth $880,000. Bank of New York Mellon Corp increased its stake in shares of Skyward Specialty Insurance Group by 11.3% in the fourth quarter. Bank of New York Mellon Corp now owns 122,402 shares of the company's stock worth $6,186,000 after buying an additional 12,391 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Skyward Specialty Insurance Group by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 283,629 shares of the company's stock worth $14,335,000 after buying an additional 3,687 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SKWD shares. Truist Financial upped their price objective on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods upped their price objective on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. Piper Sandler upped their price objective on shares of Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Jefferies Financial Group downgraded shares of 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. Finally, JMP Securities upped 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 note on Friday, May 2nd. Four investment 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 stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of "Moderate Buy" and an average price target of $61.75.

Insider Transactions at Skyward Specialty Insurance Group

In other 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 now directly owns 133,629 shares of the company's stock, valued at $7,852,040.04. This represents a 28.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Kirby Hill sold 8,249 shares of the company's stock in a transaction dated 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 sale, the chairman now directly owns 8,249 shares in the company, valued at $502,116.63. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.01% of the company's stock.

Skyward Specialty Insurance Group Trading Up 0.3%

Shares of Skyward Specialty Insurance Group stock opened at $57.33 on Friday. The company's fifty day simple moving average is $58.75 and its two-hundred day simple moving average is $52.50. The company has a market cap of $2.32 billion, a P/E ratio of 19.11 and a beta of 0.79. Skyward Specialty Insurance Group, Inc. has a 12-month low of $34.10 and a 12-month high of $65.05.

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 for the quarter, topping analysts' consensus estimates of $0.78 by $0.12. The firm had revenue of $328.53 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.75 EPS. Analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal 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.

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