Dark Forest Capital Management LP Has $293,000 Stock Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Dark Forest Capital Management LP cut its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 76.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,803 shares of the company's stock after selling 18,817 shares during the period. Dark Forest Capital Management LP's holdings in Skyward Specialty Insurance Group were worth $293,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Sterling Capital Management LLC raised its stake in Skyward Specialty Insurance Group by 756.1% in the fourth quarter. Sterling Capital Management LLC now owns 916 shares of the company's stock worth $46,000 after buying an additional 809 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter valued at about $61,000. Summit Investment Advisors Inc. grew its position in shares of Skyward Specialty Insurance Group by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,886 shares of the company's stock worth $196,000 after buying an additional 247 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Skyward Specialty Insurance Group during the fourth quarter worth $219,000. Finally, Pinnacle Financial Partners Inc acquired a new position in Skyward Specialty Insurance Group during the 4th quarter valued at about $220,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SKWD shares. Truist Financial raised their target price on Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. 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. Barclays increased their price objective on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. JMP Securities increased their price target on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the stock a "market outperform" rating in a report on Friday. Finally, Piper Sandler reduced their price target on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of "Moderate Buy" and a consensus price target of $57.63.

Skyward Specialty Insurance Group Stock Up 9.4 %

Shares of SKWD stock traded up $5.06 during mid-day trading on Friday, reaching $58.63. The company's stock had a trading volume of 1,014,976 shares, compared to its average volume of 384,455. The company's 50 day simple moving average is $51.83 and its 200-day simple moving average is $49.54. Skyward Specialty Insurance Group, Inc. has a 12-month low of $33.42 and a 12-month high of $59.08. The firm has a market capitalization of $2.36 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 0.81 and a beta of 0.63.

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

Insider Transactions at Skyward Specialty Insurance Group

In other news, insider Thomas N. Schmitt sold 6,300 shares of the 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 transaction, the insider now directly owns 3,946 shares in the company, valued at approximately $204,876.32. This represents a 61.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John A. Burkhart III sold 4,832 shares of Skyward Specialty Insurance Group stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the completion of the transaction, the insider now directly owns 17,655 shares of the company's stock, valued at approximately $886,987.20. This represents a 21.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,132 shares of company stock valued at $620,476. 8.01% of the stock is currently owned by insiders.

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.