Mutual of America Capital Management LLC Reduces Stock Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Mutual of America Capital Management LLC reduced its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 150,425 shares of the company's stock after selling 25,184 shares during the period. Mutual of America Capital Management LLC owned approximately 0.37% of Skyward Specialty Insurance Group worth $7,960,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in 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 valued at $114,990,000 after buying an additional 16,572 shares during the period. Invesco Ltd. raised its holdings in Skyward Specialty Insurance Group by 9.1% in the 4th quarter. Invesco Ltd. now owns 1,217,329 shares of the company's stock valued at $61,524,000 after buying an additional 102,042 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in 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 valued at $52,995,000 after buying an additional 283,749 shares during the period. Reinhart Partners LLC. purchased a new stake in Skyward Specialty Insurance Group in the 1st quarter valued at about $49,979,000. Finally, Capital World Investors purchased a new stake in Skyward Specialty Insurance Group in the 4th quarter valued at about $41,182,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on SKWD. Citigroup restated an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. JMP Securities boosted their price target on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research note on Friday, May 2nd. Wall Street Zen lowered shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Truist Financial boosted their price target on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Piper Sandler cut their price target on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $60.88.

Insider Buying and Selling

In other Skyward Specialty Insurance Group 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 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. This represents a 28.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Kirby Hill sold 8,249 shares of the stock in a transaction that occurred 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 completion of the transaction, the chairman owned 8,249 shares in the company, 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. 8.01% of the stock is currently owned by corporate insiders.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD stock traded down $0.47 during trading hours on Friday, reaching $48.72. 352,469 shares of the stock were exchanged, compared to its average volume of 475,523. The business's fifty day moving average is $55.42 and its two-hundred day moving average is $53.66. Skyward Specialty Insurance Group, Inc. has a 12-month low of $34.10 and a 12-month high of $65.05. The firm has a market capitalization of $1.97 billion, a P/E ratio of 15.32 and a beta of 0.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. Skyward Specialty Insurance Group had a net margin of 10.53% and a return on equity of 16.84%. The firm had revenue of $319.90 million for the quarter, compared to analyst estimates of $324.64 million. During the same period in the prior year, the firm earned $0.80 earnings per share. As a group, equities research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Skyward Specialty Insurance Group Company 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.