Skyward Specialty Insurance Group, Inc. $SKWD Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Skyward Specialty Insurance Group by 16.2%, now holding 121,143 shares valued at approximately $6.41 million.
• Analyst ratings for SKWD have increased, with target prices raised by firms like JMP Securities and Keefe, Bruyette & Woods, suggesting a positive outlook for the stock.
• The company reported earnings of $0.89 per share for the last quarter, beating analyst expectations and indicating a growing profitability trend compared to the previous year's earnings.

Russell Investments Group Ltd. decreased its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 16.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,143 shares of the company's stock after selling 23,454 shares during the quarter. Russell Investments Group Ltd. owned 0.30% of Skyward Specialty Insurance Group worth $6,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Investment Advisors Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock worth $196,000 after buying an additional 247 shares in the last quarter. Arizona State Retirement System increased its position in shares of Skyward Specialty Insurance Group by 4.6% during the 1st quarter. Arizona State Retirement System now owns 10,329 shares of the company's stock valued at $547,000 after purchasing an additional 451 shares during the last quarter. US Bancorp DE increased its holdings in Skyward Specialty Insurance Group by 8.2% in the 1st quarter. US Bancorp DE now owns 5,935 shares of the company's stock worth $314,000 after acquiring an additional 451 shares during the last quarter. Cetera Investment Advisers increased its holdings in Skyward Specialty Insurance Group by 6.2% in the 1st quarter. Cetera Investment Advisers now owns 9,641 shares of the company's stock worth $510,000 after acquiring an additional 566 shares during the last quarter. Finally, Moran Wealth Management LLC boosted its stake in Skyward Specialty Insurance Group by 6.2% in the 1st quarter. Moran Wealth Management LLC now owns 10,032 shares of the company's stock worth $531,000 after purchasing an additional 585 shares during the period. Institutional investors and hedge funds own 94.83% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SKWD. Keefe, Bruyette & Woods lifted their price target on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 29th. Wall Street Zen downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Truist Financial lifted their price target on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, May 5th. JMP Securities boosted their target price on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research report on Friday, May 2nd. Finally, Piper Sandler dropped their target price on Skyward Specialty Insurance Group from $69.00 to $59.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.88.

Skyward Specialty Insurance Group Trading Down 0.9%

SKWD traded down $0.47 during trading on Monday, hitting $49.09. The company's stock had a trading volume of 89,995 shares, compared to its average volume of 419,495. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 15.44 and a beta of 0.62. The business's fifty day simple moving average is $52.91 and its 200 day simple moving average is $54.01. Skyward Specialty Insurance Group, Inc. has a twelve month low of $37.79 and a twelve month high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.40% and a net margin of 10.53%.The firm had revenue of $319.90 million for the quarter, compared to the consensus estimate of $324.64 million. During the same quarter last year, the business posted $0.80 earnings per share. As a group, equities research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Mark W. Haushill sold 52,748 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 133,629 shares of the company's stock, valued at $7,852,040.04. This represents a 28.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.