Calamos Advisors LLC Cuts Stock Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Calamos Advisors LLC trimmed its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 35.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,664 shares of the company's stock after selling 37,651 shares during the period. Calamos Advisors LLC owned 0.18% of Skyward Specialty Insurance Group worth $2,326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in Skyward Specialty Insurance Group by 390.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,032 shares of the company's stock worth $52,000 after acquiring an additional 1,618 shares in the last quarter. Amalgamated Bank boosted its holdings in Skyward Specialty Insurance Group by 90.9% in the third quarter. Amalgamated Bank now owns 2,300 shares of the company's stock worth $63,000 after acquiring an additional 1,095 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Skyward Specialty Insurance Group in the first quarter worth $81,000. California State Teachers Retirement System bought a new stake in Skyward Specialty Insurance Group in the first quarter worth $84,000. Finally, Citigroup Inc. bought a new stake in Skyward Specialty Insurance Group in the second quarter worth $87,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Andrew S. Robinson sold 13,374 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total transaction of $477,451.80. Following the completion of the sale, the chief executive officer now owns 96,883 shares in the company, valued at $3,458,723.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Mark W. Haushill sold 35,000 shares of the firm's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $35.96, for a total value of $1,258,600.00. Following the completion of the sale, the chief financial officer now directly owns 261,688 shares of the company's stock, valued at approximately $9,410,300.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew S. Robinson sold 13,374 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total value of $477,451.80. Following the sale, the chief executive officer now directly owns 96,883 shares of the company's stock, valued at $3,458,723.10. The disclosure for this sale can be found here. Insiders sold a total of 98,890 shares of company stock worth $3,533,839 over the last quarter. 8.01% of the stock is currently owned by corporate insiders.

Skyward Specialty Insurance Group Price Performance

Skyward Specialty Insurance Group stock traded up $0.98 during mid-day trading on Friday, reaching $36.24. 255,681 shares of the stock traded hands, compared to its average volume of 269,600. The stock has a market capitalization of $1.45 billion, a PE ratio of 16.18 and a beta of 0.45. Skyward Specialty Insurance Group, Inc. has a 12-month low of $20.81 and a 12-month high of $38.64. The business's 50-day moving average is $35.85 and its 200-day moving average is $32.89.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.05. The company had revenue of $321.60 million during the quarter, compared to analysts' expectations of $320.34 million. Skyward Specialty Insurance Group had a return on equity of 14.31% and a net margin of 9.56%. Skyward Specialty Insurance Group's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. Equities analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 2.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SKWD shares. JMP Securities boosted their target price on Skyward Specialty Insurance Group from $40.00 to $42.00 and gave the stock a "market outperform" rating in a report on Monday, April 15th. BMO Capital Markets upped their price target on Skyward Specialty Insurance Group from $31.00 to $37.00 and gave the company a "market perform" rating in a report on Monday, February 26th. Keefe, Bruyette & Woods upped their price target on Skyward Specialty Insurance Group from $43.00 to $44.00 and gave the company an "outperform" rating in a report on Wednesday, April 10th. Truist Financial upped their price target on Skyward Specialty Insurance Group from $40.00 to $44.00 and gave the company a "buy" rating in a report on Thursday, February 22nd. Finally, Wolfe Research assumed coverage on Skyward Specialty Insurance Group in a report on Thursday, January 11th. They set an "outperform" rating and a $39.00 price target on the stock. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $39.89.

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.