UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 35.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,587 shares of the company's stock after buying an additional 22,313 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.21% of Skyward Specialty Insurance Group worth $4,326,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. ProShare Advisors LLC raised its position in shares of Skyward Specialty Insurance Group by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 10,461 shares of the company's stock valued at $529,000 after buying an additional 3,442 shares during the last quarter. Quantedge Capital Pte Ltd acquired a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $445,000. Man Group plc acquired a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $507,000. Numerai GP LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the fourth quarter valued at about $266,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Skyward Specialty Insurance Group by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,129 shares of the company's stock valued at $1,068,000 after buying an additional 748 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Skyward Specialty Insurance Group Stock Down 0.8%

SKWD stock traded down $0.50 during mid-day trading on Friday, hitting $62.45. 257,471 shares of the company were exchanged, compared to its average volume of 372,031. The firm has a market capitalization of $2.52 billion, a P/E ratio of 19.04, a PEG ratio of 0.81 and a beta of 0.79. The business has a fifty day simple moving average of $57.29 and a 200-day simple moving average of $52.15. Skyward Specialty Insurance Group, Inc. has a 12-month low of $33.42 and a 12-month high of $65.05.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. The company had revenue of $328.53 million during the quarter, compared to analyst estimates of $310.94 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same quarter last year, the firm posted $0.75 earnings per share. Research analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Kirby Hill sold 8,249 shares of the firm's stock in a transaction 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 completion of the transaction, the chairman now directly owns 8,249 shares in the company, valued at $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 SEC, which is available at the SEC website. 8.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SKWD. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. JMP Securities increased their target price on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a research report on Friday, May 2nd. Truist Financial upped 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 report on Monday, May 5th. Wolfe Research reissued a "peer perform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, February 28th. Finally, Barclays upped their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.