Summit Global Investments Makes New Investment in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Summit Global Investments acquired a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 26,297 shares of the company's stock, valued at approximately $1,392,000. Summit Global Investments owned about 0.07% of Skyward Specialty Insurance Group as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Summit Investment Advisors Inc. raised its holdings in shares of 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 worth $196,000 after acquiring an additional 247 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Skyward Specialty Insurance Group by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,129 shares of the company's stock worth $1,068,000 after acquiring an additional 748 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Skyward Specialty Insurance Group by 756.1% during the fourth 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. Riverwater Partners LLC raised its holdings in shares of Skyward Specialty Insurance Group by 2.5% during the fourth quarter. Riverwater Partners LLC now owns 35,013 shares of the company's stock worth $1,770,000 after acquiring an additional 862 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Skyward Specialty Insurance Group by 12.5% during the fourth quarter. Cetera Investment Advisers now owns 9,075 shares of the company's stock worth $459,000 after acquiring an additional 1,006 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Skyward Specialty Insurance Group Price Performance

SKWD stock traded down $1.18 on Wednesday, reaching $63.64. 70,019 shares of the company were exchanged, compared to its average volume of 371,251. The firm has a market capitalization of $2.57 billion, a PE ratio of 19.40, a PEG ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group, Inc. has a 12 month low of $33.42 and a 12 month high of $65.05. The stock's fifty day moving average price is $56.70 and its 200 day moving average price is $51.91.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.12. The business had revenue of $328.53 million for the quarter, compared to analysts' expectations of $310.94 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SKWD. Truist Financial increased 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. Jefferies Financial Group lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and cut their price objective for the stock from $62.00 to $59.00 in a report on Friday, April 11th. Keefe, Bruyette & Woods boosted their price target on 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 increased their price objective 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. Finally, Citigroup reissued an "outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Four 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.75.

Insider Activity

In other news, Chairman Kirby Hill sold 8,249 shares of the business'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 transaction of $502,116.63. Following the sale, the chairman now directly owns 8,249 shares in the company, valued at approximately $502,116.63. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John A. Burkhart III sold 4,832 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the sale, the insider now owns 17,655 shares in the company, valued at approximately $886,987.20. This represents a 21.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,081 shares of company stock worth $795,496. Company insiders own 8.01% 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.