Lazard Asset Management LLC Sells 13,332 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Lazard Asset Management LLC lessened its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 89.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,622 shares of the company's stock after selling 13,332 shares during the period. Lazard Asset Management LLC's holdings in Skyward Specialty Insurance Group were worth $81,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SKWD. Capital World Investors acquired a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth about $41,182,000. American Century Companies Inc. increased its stake in shares of Skyward Specialty Insurance Group by 54.0% during the 4th quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock worth $79,744,000 after purchasing an additional 553,389 shares during the last quarter. WCM Investment Management LLC acquired a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth about $18,084,000. Swedbank AB acquired a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth about $15,164,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Skyward Specialty Insurance Group by 37.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company's stock worth $52,995,000 after purchasing an additional 283,749 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SKWD shares. Wolfe Research reiterated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Keefe, Bruyette & Woods upped their price target on shares of Skyward Specialty Insurance Group from $57.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Piper Sandler upped their price target 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 lowered shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and decreased their price target for the company from $62.00 to $59.00 in a research note on Friday, April 11th. 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 note on Friday, April 11th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Skyward Specialty Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.13.

Skyward Specialty Insurance Group Stock Performance

Shares of Skyward Specialty Insurance Group stock traded down $1.02 on Wednesday, reaching $60.86. 232,838 shares of the stock were exchanged, compared to its average volume of 373,974. The firm's 50 day moving average is $55.66 and its 200-day moving average is $51.45. Skyward Specialty Insurance Group, Inc. has a one year low of $33.42 and a one year high of $63.76. The firm has a market cap of $2.46 billion, a PE ratio of 18.55, a P/E/G ratio of 0.81 and a beta of 0.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly 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. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The company had revenue of $328.53 million during the quarter, compared to the consensus estimate of $310.94 million. During the same quarter in the prior year, the firm posted $0.75 EPS. On average, equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Insider Transactions at Skyward Specialty Insurance Group

In related news, Chairman Kirby Hill sold 8,249 shares of the firm's stock in a transaction 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 completion of the transaction, the chairman now directly owns 8,249 shares of the company's stock, valued at $502,116.63. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gena L. Ashe sold 1,000 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total value of $50,620.00. Following the transaction, the director now directly owns 734 shares of the company's stock, valued at approximately $37,155.08. This represents a 57.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,381 shares of company stock valued at $1,122,592. Company insiders own 8.01% 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.