Northern Trust Corp Grows Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Northern Trust Corp boosted its holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 18.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 390,706 shares of the company's stock after purchasing an additional 60,412 shares during the period. Northern Trust Corp owned about 0.97% of Skyward Specialty Insurance Group worth $19,746,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Beacon Pointe Advisors LLC lifted its position in shares of Skyward Specialty Insurance Group by 23.8% during the 4th quarter. Beacon Pointe Advisors LLC now owns 14,567 shares of the company's stock valued at $736,000 after buying an additional 2,797 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in shares of Skyward Specialty Insurance Group by 1,672.6% during the 4th quarter. Tudor Investment Corp ET AL now owns 97,512 shares of the company's stock valued at $4,928,000 after purchasing an additional 92,011 shares during the period. Oberweis Asset Management Inc. raised its stake in shares of Skyward Specialty Insurance Group by 3.9% during the 4th quarter. Oberweis Asset Management Inc. now owns 131,600 shares of the company's stock valued at $6,651,000 after purchasing an additional 5,000 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Skyward Specialty Insurance Group during the 4th quarter valued at $244,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Skyward Specialty Insurance Group by 37.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,048,554 shares of the company's stock valued at $52,995,000 after purchasing an additional 283,749 shares during the period. Hedge funds and other institutional investors own 94.83% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Jefferies Financial Group lowered Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and decreased their price objective for the company from $62.00 to $59.00 in a research note on Friday, April 11th. Barclays boosted their price objective on 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. Piper Sandler upped their target price on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Citigroup restated an "outperform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Finally, JMP Securities upped their target price on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.13.

Insider Activity at Skyward Specialty Insurance Group

In related news, Chairman Kirby Hill sold 8,249 shares of the stock in a transaction dated Wednesday, May 14th. The stock was 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 directly owns 8,249 shares in the company, valued at $502,116.63. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas N. Schmitt sold 6,300 shares of the 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. This represents a 61.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,381 shares of company stock worth $1,122,592 in the last ninety days. 8.01% of the stock is owned by company insiders.

Skyward Specialty Insurance Group Stock Up 1.7%

Shares of Skyward Specialty Insurance Group stock traded up $1.05 during trading on Friday, hitting $63.61. 299,332 shares of the stock traded hands, compared to its average volume of 374,135. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 0.81 and a beta of 0.64. The firm's fifty day moving average is $53.87 and its 200-day moving average is $50.61. Skyward Specialty Insurance Group, Inc. has a 52 week low of $33.42 and a 52 week high of $63.66.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. The firm had revenue of $328.53 million for the quarter, compared to analyst estimates of $310.94 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same period in the prior year, the company earned $0.75 EPS. On average, analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current fiscal 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.