Redwood Investments LLC Takes Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Redwood Investments LLC bought a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 85,291 shares of the company's stock, valued at approximately $2,890,000. Redwood Investments LLC owned 0.23% of Skyward Specialty Insurance Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of SKWD. Tower Research Capital LLC TRC boosted its stake in shares of Skyward Specialty Insurance Group by 390.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,032 shares of the company's stock valued at $52,000 after purchasing an additional 1,618 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Skyward Specialty Insurance Group by 90.9% during the third quarter. Amalgamated Bank now owns 2,300 shares of the company's stock valued at $63,000 after purchasing an additional 1,095 shares in the last quarter. New York State Common Retirement Fund bought a new position in shares of Skyward Specialty Insurance Group during the first quarter valued at approximately $81,000. California State Teachers Retirement System bought a new position in shares of Skyward Specialty Insurance Group during the first quarter valued at approximately $84,000. Finally, Citigroup Inc. bought a new position in shares of Skyward Specialty Insurance Group during the second quarter valued at approximately $87,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Skyward Specialty Insurance Group Trading Down 0.4 %

SKWD traded down $0.14 on Monday, reaching $37.27. The stock had a trading volume of 250,197 shares, compared to its average volume of 317,793. Skyward Specialty Insurance Group, Inc. has a 12-month low of $19.70 and a 12-month high of $37.80. The business's 50-day moving average price is $34.25 and its two-hundred day moving average price is $32.00. The company has a market cap of $1.40 billion, a P/E ratio of 16.64 and a beta of 0.45.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.05. Skyward Specialty Insurance Group had a net margin of 9.56% and a return on equity of 15.27%. The company had revenue of $321.60 million during the quarter, compared to analysts' expectations of $320.34 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The firm's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, analysts predict that Skyward Specialty Insurance Group, Inc. will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SKWD. BMO Capital Markets increased their price objective on shares of Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a "market perform" rating in a research note on Monday, February 26th. Keefe, Bruyette & Woods raised their target price on shares of Skyward Specialty Insurance Group from $41.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday, February 23rd. Truist Financial raised their target price on shares of Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a "buy" rating in a research note on Thursday, February 22nd. Raymond James raised their target price on shares of Skyward Specialty Insurance Group from $36.00 to $40.00 and gave the company a "strong-buy" rating in a research note on Tuesday, December 12th. Finally, Piper Sandler raised their target price on shares of Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an "overweight" rating in a research note on Monday. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Skyward Specialty Insurance Group presently has an average rating of "Buy" and a consensus price target of $39.56.

Insider Activity

In other news, CFO Mark W. Haushill sold 35,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $35.96, for a total value of $1,258,600.00. Following the sale, the chief financial officer now owns 261,688 shares in the company, valued at $9,410,300.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Mark W. Haushill sold 35,000 shares of the business's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $35.96, for a total transaction of $1,258,600.00. Following the transaction, the chief financial officer now directly owns 261,688 shares in the company, valued at $9,410,300.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew S. Robinson sold 13,374 shares of the business's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $35.70, for a total transaction of $477,451.80. Following the completion of the transaction, the chief executive officer now owns 96,883 shares in the company, valued at $3,458,723.10. The disclosure for this sale can be found here. Insiders have sold a total of 98,890 shares of company stock worth $3,533,839 over the last 90 days.

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.