The Manufacturers Life Insurance Company Lowers Holdings in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

The Manufacturers Life Insurance Company lessened its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,548 shares of the company's stock after selling 15,334 shares during the quarter. The Manufacturers Life Insurance Company owned 0.80% of Skyward Specialty Insurance Group worth $16,251,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SKWD. Barclays PLC raised its stake in shares of 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 purchasing an additional 47,081 shares during the last quarter. Franklin Resources Inc. raised its position in Skyward Specialty Insurance Group by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company's stock valued at $45,506,000 after buying an additional 158,679 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in 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 in the last quarter. Nordea Investment Management AB lifted 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 valued at $3,248,000 after acquiring an additional 1,523 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Skyward Specialty Insurance Group during the 4th quarter worth $61,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Activity at Skyward Specialty Insurance Group

In other news, 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 value of $242,759.68. Following the completion of the transaction, the insider now directly owns 17,655 shares in the company, valued at approximately $886,987.20. The trade was a 21.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gena L. Ashe sold 1,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.62, for a total value of $50,620.00. Following the sale, the director now directly owns 734 shares in the company, valued at $37,155.08. This trade represents a 57.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,132 shares of company stock worth $620,476. 8.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SKWD shares. Wolfe Research reissued a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research report on Friday, February 28th. Barclays lifted their target price on shares of 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. Keefe, Bruyette & Woods reduced their target price on Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Piper Sandler lifted their price target on Skyward Specialty Insurance Group from $57.00 to $66.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Truist Financial boosted their price objective on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Skyward Specialty Insurance Group presently has an average rating of "Moderate Buy" and a consensus target price of $59.88.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD traded up $0.63 during mid-day trading on Wednesday, hitting $58.90. The stock had a trading volume of 475,177 shares, compared to its average volume of 384,085. The firm has a market cap of $2.38 billion, a P/E ratio of 17.96, a PEG ratio of 0.81 and a beta of 0.64. Skyward Specialty Insurance Group, Inc. has a 52 week low of $33.42 and a 52 week high of $60.40. The business has a fifty day moving average price of $52.26 and a 200-day moving average price of $49.84.

Skyward Specialty Insurance Group (NASDAQ:SKWD - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $328.53 million for the quarter, compared to analysts' expectations 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 previous year, the business posted $0.75 EPS. As a group, research analysts expect 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.