Victory Capital Management Inc. Sells 113,952 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Victory Capital Management Inc. lowered its stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 16.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 573,414 shares of the company's stock after selling 113,952 shares during the quarter. Victory Capital Management Inc. owned 1.42% of Skyward Specialty Insurance Group worth $30,345,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SKWD. Sterling Capital Management LLC grew its holdings in 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 during the period. LRI Investments LLC acquired a new stake in Skyward Specialty Insurance Group in the first quarter valued at approximately $67,000. KBC Group NV acquired a new stake in Skyward Specialty Insurance Group in the first quarter valued at approximately $81,000. ORG Wealth Partners LLC grew its holdings in Skyward Specialty Insurance Group by 86.9% in the first quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company's stock valued at $123,000 after purchasing an additional 1,057 shares during the period. Finally, New York State Teachers Retirement System acquired a new stake in Skyward Specialty Insurance Group in the first quarter valued at approximately $179,000. Institutional investors own 94.83% of the company's stock.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 52,748 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $58.76, for a total value of $3,099,472.48. Following the completion of the transaction, the chief financial officer owned 133,629 shares of the company's stock, valued at $7,852,040.04. The trade was a 28.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Kirby Hill sold 8,249 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total transaction of $502,116.63. Following the completion of the sale, the chairman directly owned 8,249 shares of the company's stock, valued at $502,116.63. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. 8.01% of the stock is owned by company insiders.

Skyward Specialty Insurance Group Price Performance

SKWD stock traded down $0.43 during midday trading on Thursday, hitting $52.13. The company's stock had a trading volume of 172,059 shares, compared to its average volume of 413,775. The company's fifty day moving average price is $58.33 and its 200 day moving average price is $53.15. Skyward Specialty Insurance Group, Inc. has a twelve month low of $34.10 and a twelve month high of $65.05. The stock has a market capitalization of $2.11 billion, a P/E ratio of 17.36 and a beta of 0.65.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. The business had revenue of $328.53 million during the quarter, compared to the consensus estimate of $310.94 million. Skyward Specialty Insurance Group had a net margin of 10.23% and a return on equity of 16.80%. During the same quarter in the prior year, the firm earned $0.75 EPS. Equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SKWD shares. Keefe, Bruyette & Woods raised their target price on Skyward Specialty Insurance Group from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 29th. JMP Securities lifted their price objective on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research report on Friday, May 2nd. Piper Sandler lifted their price objective on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Truist Financial lifted their price objective on 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. Finally, Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, May 2nd. Three 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $61.75.

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.