SG Americas Securities LLC Invests $631,000 in 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) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and 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 modified their holdings of SKWD. Sterling Capital Management LLC grew its stake in shares of Skyward Specialty Insurance Group by 756.1% during the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock valued at $46,000 after buying an additional 809 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in 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 during the period. Hsbc Holdings PLC bought a new position in Skyward Specialty Insurance Group in the 4th quarter valued at $219,000. Pinnacle Financial Partners Inc purchased a new stake in Skyward Specialty Insurance Group in the fourth quarter worth $220,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Skyward Specialty Insurance Group in the fourth quarter worth $230,000. Institutional investors own 94.83% of the company's stock.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ:SKWD traded down $2.57 during trading hours on Wednesday, hitting $56.22. The company's stock had a trading volume of 356,662 shares, compared to its average volume of 367,417. The firm's fifty day moving average price is $58.94 and its 200 day moving average price is $52.57. Skyward Specialty Insurance Group, Inc. has a 52 week low of $34.10 and a 52 week high of $65.05. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 18.74 and a beta of 0.79.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.12. The company had revenue of $328.53 million during 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 quarter in the previous year, the firm posted $0.75 earnings per share. On average, equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SKWD shares. Barclays boosted 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 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. Piper Sandler upped their target price on shares of Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods lifted their price target 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. Finally, JMP Securities boosted their price target on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.75.

Insider Buying and Selling

In related news, CFO Mark W. Haushill sold 52,748 shares of the stock in a transaction that occurred on 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 now owns 133,629 shares of the company's stock, valued at $7,852,040.04. This represents a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Kirby Hill sold 8,249 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $60.87, for a total value of $502,116.63. Following the transaction, the chairman now directly owns 8,249 shares in the company, 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. 7.86% of the stock is currently owned by company insiders.

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.