Raymond James Financial Inc. Takes $3.19 Million Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Raymond James Financial Inc. bought a new stake in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 63,138 shares of the company's stock, valued at approximately $3,191,000. Raymond James Financial Inc. owned 0.16% of Skyward Specialty Insurance Group at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SKWD. Barclays PLC lifted its stake in Skyward Specialty Insurance Group by 277.7% in the third quarter. Barclays PLC now owns 64,032 shares of the company's stock worth $2,608,000 after acquiring an additional 47,081 shares during the period. Franklin Resources Inc. increased its stake in shares of Skyward Specialty Insurance Group by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company's stock worth $45,506,000 after acquiring an additional 158,679 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Skyward Specialty Insurance Group by 49.8% in the 3rd quarter. Principal Financial Group Inc. now owns 104,105 shares of the company's stock valued at $4,240,000 after purchasing an additional 34,612 shares during the period. JPMorgan Chase & Co. grew its position in shares of Skyward Specialty Insurance Group by 32.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 86,302 shares of the company's stock valued at $3,515,000 after acquiring an additional 21,346 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Skyward Specialty Insurance Group by 2.4% during the 4th quarter. Nordea Investment Management AB now owns 64,321 shares of the company's stock worth $3,248,000 after purchasing an additional 1,523 shares during the last quarter. 94.83% of the stock is owned by institutional investors.

Insider Activity

In other Skyward Specialty Insurance Group 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 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 approximately $204,876.32. The trade was a 61.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the director now owns 734 shares in the company, valued at approximately $37,155.08. This trade represents a 57.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,132 shares of company stock valued at $620,476 in the last ninety days. 8.01% of the stock is owned by company insiders.

Skyward Specialty Insurance Group Stock Up 0.2 %

Shares of NASDAQ SKWD traded up $0.10 during mid-day trading on Thursday, reaching $53.19. 250,336 shares of the company were exchanged, compared to its average volume of 381,236. The stock has a market capitalization of $2.15 billion, a P/E ratio of 16.16, 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 $33.42 and a twelve month high of $56.98. The company's 50-day simple moving average is $51.77 and its 200-day simple moving average is $49.49.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $304.40 million during the quarter, compared to analysts' expectations 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.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. TD Cowen assumed coverage on Skyward Specialty Insurance Group in a report on Monday, January 13th. They set a "hold" rating and a $43.00 price target for the company. Jefferies Financial Group cut Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and dropped their target price for the stock from $62.00 to $59.00 in a research report on Friday, April 11th. Barclays boosted their price objective 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. Finally, Truist Financial increased 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 research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.00.

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.