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Teacher Retirement System of Texas Cuts Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Skyward Specialty Insurance Group logo with Finance background

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

A number of other institutional investors have also modified their holdings of SKWD. Sterling Capital Management LLC grew its holdings in Skyward Specialty Insurance Group by 756.1% during the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock worth $46,000 after acquiring an additional 809 shares in the last quarter. KBC Group NV acquired a new position in shares of Skyward Specialty Insurance Group in the 1st quarter worth approximately $81,000. ORG Wealth Partners LLC increased 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 acquiring an additional 1,057 shares in the last quarter. New York State Teachers Retirement System purchased a new position in Skyward Specialty Insurance Group during the first quarter valued at approximately $179,000. Finally, Summit Investment Advisors Inc. grew its position in Skyward Specialty Insurance Group by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock valued at $196,000 after purchasing an additional 247 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Analyst Ratings Changes

SKWD has been the subject of a number of analyst reports. Citigroup restated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Truist Financial upped their target price on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Jefferies Financial Group downgraded shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and cut their target price for the company from $62.00 to $59.00 in a research report on Friday, April 11th. Barclays increased 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 report on Friday, April 11th. Finally, Piper Sandler lifted their price objective on shares of 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 research 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. Based on data from MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of "Moderate Buy" and a consensus price target of $61.75.

View Our Latest Stock Report on SKWD

Insider Activity

In related news, CFO Mark W. Haushill sold 52,748 shares of the stock in a transaction 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 directly owned 133,629 shares in the company, valued at $7,852,040.04. This trade represents a 28.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Kirby Hill sold 8,249 shares of Skyward Specialty Insurance Group stock in a transaction dated 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 approximately $502,116.63. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. 8.01% of the stock is currently owned by insiders.

Skyward Specialty Insurance Group Stock Down 0.6%

Shares of Skyward Specialty Insurance Group stock traded down $0.35 during trading on Tuesday, reaching $53.65. The company's stock had a trading volume of 357,553 shares, compared to its average volume of 372,927. The business's 50-day moving average price is $59.18 and its 200-day moving average price is $53.00. The firm has a market cap of $2.17 billion, a PE ratio of 17.88 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 posted its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. Skyward Specialty Insurance Group had a net margin of 10.23% and a return on equity of 16.80%. The business had revenue of $328.53 million during the quarter, compared to analysts' expectations of $310.94 million. During the same quarter in the prior year, the business posted $0.75 earnings per share. Equities analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

About Skyward Specialty Insurance Group

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Skyward Specialty Insurance Group (NASDAQ:SKWD)

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