Allspring Global Investments Holdings LLC Reduces Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Allspring Global Investments Holdings LLC lessened its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 30.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 289,608 shares of the company's stock after selling 126,974 shares during the period. Allspring Global Investments Holdings LLC owned 0.72% of Skyward Specialty Insurance Group worth $15,636,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Skyward Specialty Insurance Group in the 1st quarter valued at about $631,000. GAMMA Investing LLC grew its position in shares of Skyward Specialty Insurance Group by 6,374.4% in the first quarter. GAMMA Investing LLC now owns 17,675 shares of the company's stock valued at $935,000 after purchasing an additional 17,402 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Skyward Specialty Insurance Group during the first quarter worth approximately $241,000. Janney Montgomery Scott LLC acquired a new stake in Skyward Specialty Insurance Group during the 1st quarter worth approximately $544,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Skyward Specialty Insurance Group by 35.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,587 shares of the company's stock valued at $4,326,000 after purchasing an additional 22,313 shares during the period. 94.83% of the stock is owned by institutional investors.

Skyward Specialty Insurance Group Stock Up 2.8%

Skyward Specialty Insurance Group stock traded up $1.53 during trading hours on Friday, reaching $56.37. 349,814 shares of the company's stock were exchanged, compared to its average volume of 370,142. The firm's 50 day simple moving average is $59.33 and its 200 day simple moving average is $52.85. Skyward Specialty Insurance Group, Inc. has a twelve month low of $34.10 and a twelve month high of $65.05. The firm has a market capitalization of $2.28 billion, a PE ratio of 18.79 and a beta of 0.65.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $328.53 million for the quarter, compared to analyst estimates 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 prior year, the company earned $0.75 earnings per share. Analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on SKWD. Keefe, Bruyette & Woods increased their price objective on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 29th. Jefferies Financial Group lowered shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and lowered their price target for the stock from $62.00 to $59.00 in a research report on Friday, April 11th. Barclays boosted their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a report on Friday, April 11th. Piper Sandler increased 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 report on Monday, May 5th. Finally, JMP Securities lifted their price target on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Skyward Specialty Insurance Group currently has an average rating of "Moderate Buy" and an average target price of $61.75.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 52,748 shares of the business'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 transaction, the chief financial officer directly owned 133,629 shares in the company, valued at $7,852,040.04. The trade was a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $502,116.63. Following the completion of the sale, the chairman directly owned 8,249 shares of the company's stock, 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. Corporate insiders own 8.01% of the company's stock.

About Skyward Specialty Insurance Group

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.