First Trust Advisors LP Grows Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

First Trust Advisors LP lifted its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 13.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,138 shares of the company's stock after purchasing an additional 14,543 shares during the quarter. First Trust Advisors LP owned 0.30% of Skyward Specialty Insurance Group worth $6,173,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its position 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 buying an additional 809 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Skyward Specialty Insurance Group in the fourth quarter worth $61,000. Summit Investment Advisors Inc. boosted its position 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 valued at $196,000 after purchasing an additional 247 shares in the last quarter. Pinnacle Financial Partners Inc purchased a new position in Skyward Specialty Insurance Group during the 4th quarter valued at about $220,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Skyward Specialty Insurance Group during the fourth quarter valued at $230,000. 94.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SKWD. Jefferies Financial Group cut shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and dropped their price target for the stock from $62.00 to $59.00 in a research note on Friday, April 11th. JMP Securities raised their target price on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research report on Friday. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday. TD Cowen started coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a "hold" rating and a $43.00 target price on the stock. Finally, 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. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.88.

Insider Transactions at Skyward Specialty Insurance Group

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 6,300 shares of the firm'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 directly owns 3,946 shares of the company's stock, valued at approximately $204,876.32. This trade represents a 61.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gena L. Ashe sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.62, for a total transaction of $50,620.00. Following the completion of the sale, the director now owns 734 shares of the company's stock, valued at approximately $37,155.08. The trade was a 57.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,132 shares of company stock worth $620,476 over the last quarter. 8.01% of the stock is currently owned by insiders.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD stock traded down $0.92 during mid-day trading on Tuesday, hitting $58.45. The stock had a trading volume of 54,679 shares, compared to its average volume of 382,870. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $33.42 and a fifty-two week high of $60.40. The company's 50-day simple moving average is $52.14 and its 200-day simple moving average is $49.78. The firm has a market cap of $2.36 billion, a PE ratio of 17.82, a PEG ratio of 0.81 and a beta of 0.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. The firm had revenue of $328.53 million during the quarter, compared to the consensus estimate 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 firm posted $0.75 EPS. On average, analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

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.