Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Stock Holdings Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 36.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,016 shares of the company's stock after purchasing an additional 27,669 shares during the period. Envestnet Asset Management Inc. owned 0.26% of Skyward Specialty Insurance Group worth $5,452,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SKWD. 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 worth $46,000 after purchasing an additional 809 shares in the last quarter. KBC Group NV purchased a new stake in shares of Skyward Specialty Insurance Group in the first quarter worth about $81,000. ORG Wealth Partners LLC lifted its position in shares of Skyward Specialty Insurance Group by 86.9% in the first quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company's stock worth $123,000 after buying an additional 1,057 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Skyward Specialty Insurance Group in the first quarter worth about $179,000. Finally, Summit Investment Advisors Inc. lifted its position in shares of Skyward Specialty Insurance Group by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock worth $196,000 after buying an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SKWD. Truist Financial upped their price objective on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Piper Sandler increased their price target on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the company an "overweight" rating in a report on Monday, May 5th. JMP Securities lifted their price objective 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. Barclays raised 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. Finally, Jefferies Financial Group lowered shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and reduced their price objective for the company from $62.00 to $59.00 in a report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Skyward Specialty Insurance Group 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 up $0.18 during trading hours on Friday, reaching $51.98. The stock had a trading volume of 382,083 shares, compared to its average volume of 451,552. Skyward Specialty Insurance Group, Inc. has a 1 year low of $34.10 and a 1 year high of $65.05. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 17.33 and a beta of 0.65. The firm's 50 day moving average is $57.88 and its 200-day moving average is $53.30.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. Skyward Specialty Insurance Group had a return on equity of 16.80% and a net margin of 10.23%. The company had revenue of $328.53 million for the quarter, compared to analyst estimates of $310.94 million. During the same quarter last year, the company posted $0.75 earnings per share. Analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Kirby Hill sold 8,249 shares of Skyward Specialty Insurance Group stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total transaction of $502,116.63. Following the sale, the chairman 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Haushill sold 52,748 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $58.76, for a total value of $3,099,472.48. Following the sale, the chief financial officer directly owned 133,629 shares in the company, valued at approximately $7,852,040.04. The trade was a 28.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.