Victory Capital Management Inc. Invests $18.98 Million in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Victory Capital Management Inc. purchased a new stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 560,274 shares of the company's stock, valued at approximately $18,982,000. Victory Capital Management Inc. owned approximately 1.49% of Skyward Specialty Insurance Group as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Skyward Specialty Insurance Group by 109.5% in the third quarter. Vanguard Group Inc. now owns 1,512,787 shares of the company's stock valued at $41,390,000 after purchasing an additional 790,826 shares in the last quarter. Redwood Investments LLC bought a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter worth $2,890,000. DekaBank Deutsche Girozentrale purchased a new position in Skyward Specialty Insurance Group in the third quarter worth $396,000. ClariVest Asset Management LLC bought a new position in Skyward Specialty Insurance Group in the third quarter valued at $1,106,000. Finally, Strs Ohio purchased a new stake in Skyward Specialty Insurance Group during the fourth quarter valued at about $6,393,000. Institutional investors own 94.83% of the company's stock.

Insider Activity

In other Skyward Specialty Insurance Group news, CFO Mark W. Haushill sold 35,000 shares of the company's stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 261,688 shares in the company, valued at approximately $9,410,300.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Andrew S. Robinson sold 13,374 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $35.70, for a total transaction of $477,451.80. Following the sale, the chief executive officer now directly owns 96,883 shares in the company, valued at $3,458,723.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark W. Haushill sold 35,000 shares of the company's stock in a transaction 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 in the company, valued at $9,410,300.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,890 shares of company stock valued at $3,533,839. Company insiders own 8.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SKWD. BMO Capital Markets raised their price objective 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 increased their target price on shares of Skyward Specialty Insurance Group from $44.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday. Wolfe Research initiated coverage on shares of Skyward Specialty Insurance Group in a research report on Thursday, January 11th. They issued an "outperform" rating and a $39.00 target price on the stock. Truist Financial raised their price objective on Skyward Specialty Insurance Group from $44.00 to $47.00 and gave the company a "buy" rating in a research note on Friday, May 3rd. Finally, Piper Sandler boosted their target price on Skyward Specialty Insurance Group from $43.00 to $46.00 and gave the company an "overweight" rating in a research note on Monday, April 1st. 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. According to MarketBeat.com, Skyward Specialty Insurance Group presently has a consensus rating of "Buy" and an average price target of $40.78.

Skyward Specialty Insurance Group Stock Up 1.2 %

Shares of NASDAQ:SKWD traded up $0.43 during midday trading on Friday, hitting $37.36. 444,868 shares of the stock traded hands, compared to its average volume of 315,986. The business's 50 day moving average is $36.33 and its two-hundred day moving average is $33.55. The stock has a market capitalization of $1.49 billion, a PE ratio of 13.74 and a beta of 0.68. Skyward Specialty Insurance Group, Inc. has a one year low of $21.93 and a one year high of $38.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. Skyward Specialty Insurance Group had a return on equity of 15.98% and a net margin of 11.16%. The company had revenue of $264.97 million for the quarter, compared to the consensus estimate of $251.66 million. During the same quarter in the previous year, the business earned $0.42 EPS. As a group, sell-side analysts forecast that Skyward Specialty Insurance Group, Inc. will post 2.74 earnings per share for the current year.

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.