JPMorgan Chase & Co. Acquires 74,345 Shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

JPMorgan Chase & Co. increased its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 86.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 160,647 shares of the company's stock after buying an additional 74,345 shares during the quarter. JPMorgan Chase & Co. owned 0.40% of Skyward Specialty Insurance Group worth $8,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKWD. State Street Corp increased its position in shares of Skyward Specialty Insurance Group by 10.8% during the third quarter. State Street Corp now owns 844,233 shares of the company's stock worth $34,386,000 after acquiring an additional 82,328 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of Skyward Specialty Insurance Group in the 3rd quarter valued at about $297,000. Barclays PLC lifted its holdings in shares of Skyward Specialty Insurance Group by 277.7% in the third quarter. Barclays PLC now owns 64,032 shares of the company's stock valued at $2,608,000 after purchasing an additional 47,081 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Skyward Specialty Insurance Group by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company's stock worth $45,506,000 after buying an additional 158,679 shares during the period. Finally, Principal Financial Group Inc. grew 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 worth $4,240,000 after buying an additional 34,612 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Skyward Specialty Insurance Group Stock Up 1.3 %

Shares of NASDAQ SKWD traded up $0.69 during mid-day trading on Friday, reaching $54.79. 217,862 shares of the company were exchanged, compared to its average volume of 381,633. The stock has a market capitalization of $2.21 billion, a P/E ratio of 16.70, a P/E/G ratio of 0.81 and a beta of 0.63. Skyward Specialty Insurance Group, Inc. has a twelve month low of $33.27 and a twelve month high of $55.62. The company's 50-day simple moving average is $51.12 and its 200-day simple moving average is $49.01.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The company had revenue of $304.40 million for the quarter, compared to analyst estimates of $295.56 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. As a group, equities research analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SKWD shares. Piper Sandler lowered their price objective on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Barclays lifted their price target on shares of 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. JMP Securities restated a "market outperform" rating and set a $60.00 price objective on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. TD Cowen initiated coverage on Skyward Specialty Insurance Group in a research report on Monday, January 13th. They issued a "hold" rating and a $43.00 target price on the stock. Finally, Truist Financial upped their target price on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $57.00.

Insider Activity

In related news, insider Thomas N. Schmitt sold 6,300 shares of the business's 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John A. Burkhart III sold 4,832 shares of Skyward Specialty Insurance Group stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the completion of the transaction, the insider now directly owns 17,655 shares of the company's stock, valued at $886,987.20. This represents a 21.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,132 shares of company stock valued at $620,476. 7.86% of the stock is owned by company insiders.

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.