Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP lessened its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 21.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 320,655 shares of the company's stock after selling 86,984 shares during the period. Two Sigma Investments LP owned approximately 0.80% of Skyward Specialty Insurance Group worth $16,206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of SKWD. Sterling Capital Management LLC raised its holdings in shares of Skyward Specialty Insurance Group by 756.1% in the 4th quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock valued at $46,000 after buying an additional 809 shares during the period. Summit Investment Advisors Inc. raised its holdings 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 during the period. Hsbc Holdings PLC purchased a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter valued at $219,000. Pinnacle Financial Partners Inc purchased a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter valued at $220,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter valued at $230,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SKWD shares. Jefferies Financial Group downgraded Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and cut their price objective for the company from $62.00 to $59.00 in a report on Friday, April 11th. Piper Sandler boosted their price objective on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the company an "overweight" rating in a report on Monday, May 5th. JMP Securities boosted their price objective on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a report on Friday, May 2nd. Citigroup restated an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Finally, Wolfe Research restated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Four 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.13.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD traded down $1.06 during mid-day trading on Wednesday, reaching $60.83. The company's stock had a trading volume of 45,438 shares, compared to its average volume of 373,246. Skyward Specialty Insurance Group, Inc. has a 12-month low of $33.42 and a 12-month high of $63.76. The stock has a market cap of $2.46 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64. The company's 50 day moving average is $55.66 and its 200 day moving average is $51.45.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $328.53 million for the quarter, compared to the consensus estimate of $310.94 million. During the same quarter in the prior year, the business posted $0.75 EPS. As a group, sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Insider Activity

In related news, Chairman Kirby Hill sold 8,249 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was 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 directly owns 8,249 shares of the company's stock, valued at $502,116.63. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John A. Burkhart III sold 4,832 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the completion of the sale, the insider now directly owns 17,655 shares of the company's stock, valued at approximately $886,987.20. This trade represents a 21.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,381 shares of company stock worth $1,122,592. 8.01% of the stock is currently owned by insiders.

Skyward Specialty Insurance Group Company 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.