Sandia Investment Management LP Has $85,000 Position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Sandia Investment Management LP reduced its position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 83.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,683 shares of the company's stock after selling 8,317 shares during the quarter. Sandia Investment Management LP's holdings in Skyward Specialty Insurance Group were worth $85,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SKWD. Capital World Investors acquired a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth $41,182,000. American Century Companies Inc. increased its stake in shares of Skyward Specialty Insurance Group by 54.0% in the fourth quarter. American Century Companies Inc. now owns 1,577,846 shares of the company's stock worth $79,744,000 after acquiring an additional 553,389 shares during the last quarter. WCM Investment Management LLC acquired a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth $18,084,000. Swedbank AB acquired a new position in shares of Skyward Specialty Insurance Group in the fourth quarter worth $15,164,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Skyward Specialty Insurance Group by 37.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company's stock worth $52,995,000 after acquiring an additional 283,749 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, May 5th. JMP Securities upped their price objective on shares of Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a report on Friday, May 2nd. Barclays upped their price objective on shares of Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a report on Friday, April 11th. Citigroup reiterated an "outperform" rating on shares of Skyward Specialty Insurance Group in a report on Friday, May 2nd. Finally, Jefferies Financial Group cut shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and decreased their price target for the company from $62.00 to $59.00 in a report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.13.

Skyward Specialty Insurance Group Price Performance

Shares of NASDAQ SKWD traded down $0.42 during mid-day trading on Tuesday, hitting $63.18. The company had a trading volume of 481,553 shares, compared to its average volume of 375,218. The business's 50-day simple moving average is $54.18 and its 200-day simple moving average is $50.84. Skyward Specialty Insurance Group, Inc. has a 12 month low of $33.42 and a 12 month high of $63.67. The firm has a market cap of $2.55 billion, a P/E ratio of 19.26, a PEG ratio of 0.81 and a beta of 0.64.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The firm had revenue of $328.53 million during the quarter, compared to analyst estimates of $310.94 million. During the same quarter in the prior year, the business posted $0.75 earnings per share. As a group, sell-side analysts predict that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling

In other news, Chairman Kirby Hill sold 8,249 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $60.87, for a total transaction of $502,116.63. Following the completion of the sale, the chairman now owns 8,249 shares of the company's stock, valued at approximately $502,116.63. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas N. Schmitt sold 6,300 shares of the firm'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 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 disclosure for this sale can be found here. Insiders sold 20,381 shares of company stock valued at $1,122,592 over the last quarter. Corporate insiders own 8.01% of the company's stock.

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.