Two Sigma Advisers LP Reduces Stock Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Two Sigma Advisers LP trimmed its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 18.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 397,700 shares of the company's stock after selling 92,500 shares during the quarter. Two Sigma Advisers LP owned 0.99% of Skyward Specialty Insurance Group worth $20,100,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Barclays PLC lifted its stake in shares of Skyward Specialty Insurance Group by 277.7% in the 3rd quarter. Barclays PLC now owns 64,032 shares of the company's stock valued at $2,608,000 after purchasing an additional 47,081 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Skyward Specialty Insurance Group during the fourth quarter worth $880,000. Northern Trust Corp increased its position in Skyward Specialty Insurance Group by 18.3% during the fourth quarter. Northern Trust Corp now owns 390,706 shares of the company's stock valued at $19,746,000 after acquiring an additional 60,412 shares during the last quarter. Navellier & Associates Inc. increased its position in Skyward Specialty Insurance Group by 40.6% during the fourth quarter. Navellier & Associates Inc. now owns 36,282 shares of the company's stock valued at $1,834,000 after acquiring an additional 10,478 shares during the last quarter. Finally, Moran Wealth Management LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at $477,000. Institutional investors own 94.83% of the company's stock.

Skyward Specialty Insurance Group Stock Down 2.0%

Shares of NASDAQ SKWD opened at $61.90 on Thursday. Skyward Specialty Insurance Group, Inc. has a twelve month low of $33.42 and a twelve month high of $63.76. The business has a fifty day simple moving average of $54.74 and a two-hundred day simple moving average of $51.00. The firm has a market cap of $2.50 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64.

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 for the quarter, beating 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 firm had revenue of $328.53 million during the quarter, compared to the consensus estimate of $310.94 million. During the same period in the previous year, the company posted $0.75 earnings per share. On average, research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Insider Activity

In other news, insider John A. Burkhart III sold 4,832 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the transaction, the insider now directly owns 17,655 shares of the company's stock, valued at approximately $886,987.20. This represents a 21.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas N. Schmitt sold 6,300 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $51.92, for a total value of $327,096.00. Following the sale, the insider now owns 3,946 shares in the company, valued at $204,876.32. The trade was a 61.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,381 shares of company stock worth $1,122,592. 7.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on SKWD. Wolfe Research reaffirmed a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. Jefferies Financial Group downgraded shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $62.00 to $59.00 in a research note on Friday, April 11th. Piper Sandler upped their target price on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Citigroup reissued an "outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Finally, Truist Financial boosted their price objective on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a "buy" rating in a report on Monday, May 5th. Four equities 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $61.13.

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.

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