Emerald Advisers LLC Reduces Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Emerald Advisers LLC reduced its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 814,884 shares of the company's stock after selling 8,520 shares during the quarter. Skyward Specialty Insurance Group accounts for about 1.9% of Emerald Advisers LLC's investment portfolio, making the stock its 6th largest position. Emerald Advisers LLC owned 2.02% of Skyward Specialty Insurance Group worth $43,124,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 2,275,235 shares of the company's stock worth $114,990,000 after purchasing an additional 16,572 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 54.0% in 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 in the last quarter. Invesco Ltd. boosted its holdings in shares of Skyward Specialty Insurance Group by 9.1% in the 4th quarter. Invesco Ltd. now owns 1,217,329 shares of the company's stock worth $61,524,000 after purchasing an additional 102,042 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company's stock worth $58,860,000 after purchasing an additional 47,363 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Skyward Specialty Insurance Group by 37.1% in 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 in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Mark W. Haushill sold 52,748 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer owned 133,629 shares of the company's stock, valued at approximately $7,852,040.04. This represents a 28.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Kirby Hill sold 8,249 shares of the stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 7.86% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. 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. Barclays upped their price objective on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a report on Friday, April 11th. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Keefe, Bruyette & Woods increased their target price on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 29th. Finally, Piper Sandler increased their target price 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. Three 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $61.75.

Skyward Specialty Insurance Group Price Performance

SKWD traded up $0.32 during midday trading on Wednesday, reaching $53.96. 222,667 shares of the company's stock traded hands, compared to its average volume of 371,155. The firm has a fifty day moving average of $59.09 and a two-hundred day moving average of $53.01. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 17.99 and a beta of 0.65. Skyward Specialty Insurance Group, Inc. has a 52 week low of $34.10 and a 52 week high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.12. The business had revenue of $328.53 million during 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 posted $0.75 EPS. Sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

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.