Russell Investments Group Ltd. Cuts Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Russell Investments Group Ltd. cut its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 18.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,597 shares of the company's stock after selling 32,219 shares during the period. Russell Investments Group Ltd. owned 0.36% of Skyward Specialty Insurance Group worth $7,308,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in Skyward Specialty Insurance Group by 52.4% in the 4th quarter. Wells Fargo & Company MN now owns 27,507 shares of the company's stock worth $1,390,000 after acquiring an additional 9,461 shares in the last quarter. Riverwater Partners LLC boosted its stake in Skyward Specialty Insurance Group by 2.5% during the 4th quarter. Riverwater Partners LLC now owns 35,013 shares of the company's stock worth $1,770,000 after purchasing an additional 862 shares during the last quarter. Integrated Quantitative Investments LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter worth $1,485,000. Trexquant Investment LP raised its position in shares of Skyward Specialty Insurance Group by 59.8% in the fourth quarter. Trexquant Investment LP now owns 27,775 shares of the company's stock valued at $1,404,000 after buying an additional 10,392 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Skyward Specialty Insurance Group by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 1,164,620 shares of the company's stock worth $58,860,000 after buying an additional 47,363 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ SKWD traded up $0.69 during mid-day trading on Friday, hitting $54.79. The company had a trading volume of 217,862 shares, compared to its average volume of 380,396. The business's 50-day simple moving average is $51.00 and its 200 day simple moving average is $48.81. The company has a market capitalization of $2.21 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 0.81 and a beta of 0.63. Skyward Specialty Insurance Group, Inc. has a 1-year low of $33.27 and a 1-year high of $55.62.

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

Insider Activity

In other news, insider Thomas N. Schmitt sold 6,300 shares of Skyward Specialty Insurance Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $51.92, for a total value of $327,096.00. Following the sale, the insider now owns 3,946 shares of the company's stock, valued at $204,876.32. The trade was a 61.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gena L. Ashe sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total value of $50,620.00. Following the transaction, the director now directly owns 734 shares of the company's stock, 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. Over the last ninety days, insiders sold 12,132 shares of company stock valued at $620,476. 7.86% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SKWD shares. Wolfe Research reiterated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Jefferies Financial Group lowered shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and decreased their target price for the company from $62.00 to $59.00 in a report on Friday, April 11th. Truist Financial upped their price objective on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, February 27th. TD Cowen started 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. Finally, Piper Sandler decreased their target price on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Four investment 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. Based on data from MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of "Moderate Buy" and a consensus price target 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.