Russell Investments Group Ltd. Has $6.41 Million Stock Position in Skyward Specialty Insurance Group, Inc. $SKWD

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. lessened its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 16.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 121,143 shares of the company's stock after selling 23,454 shares during the period. Russell Investments Group Ltd. owned approximately 0.30% of Skyward Specialty Insurance Group worth $6,411,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the 1st quarter worth about $631,000. Janney Montgomery Scott LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the 1st quarter worth about $544,000. GAMMA Investing LLC grew its position in Skyward Specialty Insurance Group by 6,374.4% in the 1st quarter. GAMMA Investing LLC now owns 17,675 shares of the company's stock valued at $935,000 after buying an additional 17,402 shares in the last quarter. Penserra Capital Management LLC bought a new position in Skyward Specialty Insurance Group in the 1st quarter valued at about $1,280,000. Finally, Envestnet Asset Management Inc. grew its position in Skyward Specialty Insurance Group by 36.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 103,016 shares of the company's stock valued at $5,452,000 after buying an additional 27,669 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Activity at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 52,748 shares of the firm's stock in a transaction dated 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 7.86% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report 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 report on Saturday, August 2nd. Keefe, Bruyette & Woods increased their target price on shares of 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. Truist Financial raised their price objective on shares of 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. Finally, Piper Sandler reduced their price objective on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Skyward Specialty Insurance Group currently has an average rating of "Moderate Buy" and an average price target of $60.88.

Skyward Specialty Insurance Group Trading Up 0.2%

Shares of SKWD traded up $0.08 during midday trading on Tuesday, hitting $48.77. The stock had a trading volume of 299,402 shares, compared to its average volume of 431,997. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $37.79 and a fifty-two week high of $65.05. The business has a 50-day simple moving average of $52.50 and a two-hundred day simple moving average of $53.98. The firm has a market cap of $1.97 billion, a P/E ratio of 15.34 and a beta of 0.62.

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