Teacher Retirement System of Texas Has $1.49 Million Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Teacher Retirement System of Texas cut its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 80.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,077 shares of the company's stock after selling 114,344 shares during the quarter. Teacher Retirement System of Texas owned about 0.07% of Skyward Specialty Insurance Group worth $1,486,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SKWD. Reinhart Partners LLC. acquired a new stake in Skyward Specialty Insurance Group during the 1st quarter worth about $49,979,000. Capital World Investors acquired a new stake in Skyward Specialty Insurance Group during the 4th quarter worth about $41,182,000. American Century Companies Inc. raised its holdings in 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 buying an additional 553,389 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in 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 buying an additional 283,749 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in Skyward Specialty Insurance Group during the 4th quarter worth about $8,052,000. 94.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on SKWD shares. Truist Financial boosted 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 upped 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. Barclays upped their target price on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a report on Friday, April 11th. Jefferies Financial Group downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and dropped their target price for the company from $62.00 to $59.00 in a report on Friday, April 11th. Finally, Keefe, Bruyette & Woods upped 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. Three equities research 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 stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of "Moderate Buy" and an average target price of $61.75.

Skyward Specialty Insurance Group Price Performance

NASDAQ:SKWD traded down $1.27 during mid-day trading on Friday, reaching $52.13. The stock had a trading volume of 383,563 shares, compared to its average volume of 372,724. The business's 50 day moving average is $59.29 and its 200 day moving average is $52.97. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $34.10 and a fifty-two week high of $65.05. The stock has a market cap of $2.11 billion, a P/E ratio of 16.24 and a beta of 0.65.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $328.53 million for the quarter, compared to the consensus estimate of $310.94 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. Equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling

In related 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 transaction, the chief financial officer owned 133,629 shares in the company, valued at approximately $7,852,040.04. This represents a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Kirby Hill sold 8,249 shares of the company's 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 sale, the chairman directly 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 disclosure for this sale can be found here. Corporate insiders own 7.86% 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.