Squarepoint Ops LLC Sells 65,257 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Squarepoint Ops LLC decreased its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 89.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,091 shares of the company's stock after selling 65,257 shares during the period. Squarepoint Ops LLC's holdings in Skyward Specialty Insurance Group were worth $409,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Sterling Capital Management LLC increased its position in Skyward Specialty Insurance Group by 756.1% in the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock worth $46,000 after purchasing an additional 809 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Skyward Specialty Insurance Group by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock valued at $196,000 after buying an additional 247 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter valued at approximately $219,000. Pinnacle Financial Partners Inc acquired a new position in Skyward Specialty Insurance Group in the fourth quarter worth approximately $220,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Skyward Specialty Insurance Group during the fourth quarter valued at approximately $230,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Stock Performance

Shares of Skyward Specialty Insurance Group stock traded down $2.03 during trading on Monday, reaching $60.42. The company's stock had a trading volume of 478,701 shares, compared to its average volume of 372,822. Skyward Specialty Insurance Group, Inc. has a one year low of $33.42 and a one year high of $65.05. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 0.81 and a beta of 0.79. The business's fifty day moving average price is $57.29 and its 200-day moving average price is $52.15.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The company had revenue of $328.53 million for the quarter, compared to the consensus estimate of $310.94 million. During the same period in the previous year, the business posted $0.75 EPS. Sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insider Transactions at Skyward Specialty Insurance Group

In related news, Chairman Kirby Hill sold 8,249 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total value of $502,116.63. Following the completion of the sale, the chairman now owns 8,249 shares in the company, valued at approximately $502,116.63. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SKWD has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their target price on shares of Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 29th. Barclays upped their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a report on Friday, April 11th. Truist Financial increased 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 research report on Monday, May 5th. Jefferies Financial Group cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and reduced their price target for the stock from $62.00 to $59.00 in a research report on Friday, April 11th. Finally, Citigroup reissued an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of "Moderate Buy" and a consensus price target of $61.75.

Skyward Specialty Insurance Group 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.