Freestone Grove Partners LP Acquires Shares of 159,326 Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Freestone Grove Partners LP acquired a new position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 159,326 shares of the company's stock, valued at approximately $8,052,000. Freestone Grove Partners LP owned approximately 0.40% of Skyward Specialty Insurance Group at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SKWD. Barclays PLC raised its holdings in Skyward Specialty Insurance Group by 277.7% in the 3rd quarter. Barclays PLC now owns 64,032 shares of the company's stock worth $2,608,000 after acquiring an additional 47,081 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Skyward Specialty Insurance Group by 49.8% during the third quarter. Principal Financial Group Inc. now owns 104,105 shares of the company's stock valued at $4,240,000 after purchasing an additional 34,612 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Skyward Specialty Insurance Group by 32.9% during the third quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company's stock valued at $3,515,000 after buying an additional 21,346 shares during the last quarter. Ellsworth Advisors LLC bought a new stake in Skyward Specialty Insurance Group in the 4th quarter worth about $676,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Skyward Specialty Insurance Group in the 4th quarter worth about $880,000. Institutional investors own 94.83% of the company's stock.

Skyward Specialty Insurance Group Stock Performance

Shares of NASDAQ SKWD traded up $1.05 during midday trading on Thursday, reaching $59.91. The stock had a trading volume of 89,476 shares, compared to its average volume of 374,592. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64. The stock has a 50-day moving average of $52.40 and a 200-day moving average of $49.91. Skyward Specialty Insurance Group, Inc. has a 12-month low of $33.42 and a 12-month high of $60.40.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its earnings results 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. 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 analysts' expectations of $310.94 million. During the same quarter last year, the business posted $0.75 earnings per share. As a group, analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current fiscal year.

Insider Activity

In related news, Director Gena L. Ashe sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total transaction of $50,620.00. Following the completion of the transaction, the director now directly owns 734 shares of the company's stock, valued at approximately $37,155.08. This represents a 57.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas N. Schmitt sold 6,300 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $51.92, for a total value of $327,096.00. Following the completion of the sale, the insider now directly owns 3,946 shares in the company, valued at approximately $204,876.32. The trade was a 61.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,132 shares of company stock worth $620,476 over the last quarter. Insiders own 8.01% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Jefferies Financial Group lowered shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and reduced their price target for the stock from $62.00 to $59.00 in a research note on Friday, April 11th. Wolfe Research reaffirmed a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. TD Cowen began coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a "hold" rating and a $43.00 price target on the stock. Keefe, Bruyette & Woods upped their price objective on Skyward Specialty Insurance Group from $57.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Barclays boosted their price target on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an "overweight" rating in a research note 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 issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.13.

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.