Hsbc Holdings PLC Invests $219,000 in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Hsbc Holdings PLC bought a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,320 shares of the company's stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SKWD. Sterling Capital Management LLC boosted its holdings in shares of Skyward Specialty Insurance Group by 756.1% during the 4th 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 bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $61,000. Summit Investment Advisors Inc. boosted its holdings in shares of Skyward Specialty Insurance Group by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock worth $196,000 after buying an additional 247 shares in the last quarter. Pinnacle Financial Partners Inc bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $220,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $230,000. 94.83% of the stock is currently owned by institutional investors.

Skyward Specialty Insurance Group Stock Down 0.2%

NASDAQ SKWD traded down $0.12 on Monday, reaching $59.75. The company had a trading volume of 465,897 shares, compared to its average volume of 373,817. Skyward Specialty Insurance Group, Inc. has a 52-week low of $33.42 and a 52-week high of $60.75. The stock has a market capitalization of $2.41 billion, a P/E ratio of 18.22, a P/E/G ratio of 0.81 and a beta of 0.64. The company's fifty day moving average is $52.80 and its 200 day moving average is $50.23.

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 (EPS) for the quarter, beating 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 analyst estimates of $310.94 million. During the same period last year, the firm posted $0.75 EPS. On average, research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SKWD. Piper Sandler upped their target price 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 upped their target price 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. Barclays upped their target price on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. Jefferies Financial Group lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and lowered their target price for the stock from $62.00 to $59.00 in a research report on Friday, April 11th. Finally, JMP Securities upped their target price 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. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.13.

Insider Activity

In other news, insider Thomas N. Schmitt sold 6,300 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $51.92, for a total transaction of $327,096.00. Following the completion of the sale, the insider now directly owns 3,946 shares of the company's stock, valued at $204,876.32. This trade represents a 61.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gena L. Ashe sold 1,000 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $50.62, for a total value of $50,620.00. Following the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 12,132 shares of company stock valued at $620,476 in the last ninety days. 8.01% of the stock is currently owned by insiders.

About Skyward Specialty Insurance Group

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.