Wasatch Advisors LP Reduces Stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Wasatch Advisors LP cut its holdings in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 283,828 shares of the company's stock after selling 8,347 shares during the quarter. Wasatch Advisors LP owned 0.71% of Skyward Specialty Insurance Group worth $14,345,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SKWD. American Century Companies Inc. boosted its holdings in 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 valued at $79,744,000 after purchasing an additional 553,389 shares during the period. WCM Investment Management LLC acquired a new position in shares of Skyward Specialty Insurance Group during the fourth quarter worth about $18,084,000. Swedbank AB purchased a new stake in shares of Skyward Specialty Insurance Group during the fourth quarter worth approximately $15,164,000. Franklin Resources Inc. raised its holdings in Skyward Specialty Insurance Group by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,117,257 shares of the company's stock valued at $45,506,000 after acquiring an additional 158,679 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Skyward Specialty Insurance Group during the 4th quarter worth approximately $6,594,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Analyst Ratings Changes

SKWD has been the subject of a number of analyst reports. Wolfe Research reiterated a "peer perform" rating on shares of Skyward Specialty Insurance Group in a research note on Friday, February 28th. TD Cowen began coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a "hold" rating and a $43.00 target price for the company. Barclays increased their price target on shares of 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. Truist Financial increased their target price on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Finally, JMP Securities restated a "market outperform" rating and issued a $60.00 price objective on shares of Skyward Specialty Insurance Group in a research note on Monday, February 10th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned 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 an average target price of $57.00.

Insider Buying and Selling

In other news, insider John A. Burkhart III sold 4,832 shares of the stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas N. Schmitt sold 6,300 shares of Skyward Specialty Insurance Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $51.92, for a total value of $327,096.00. Following the completion of the sale, the insider now owns 3,946 shares in the company, valued at approximately $204,876.32. This trade represents a 61.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,132 shares of company stock valued at $620,476 over the last ninety days. Corporate insiders own 8.01% of the company's stock.

Skyward Specialty Insurance Group Stock Up 2.4 %

SKWD stock traded up $1.24 during trading on Tuesday, hitting $53.95. The company had a trading volume of 38,170 shares, compared to its average volume of 379,949. Skyward Specialty Insurance Group, Inc. has a 1-year low of $33.27 and a 1-year high of $55.62. The firm has a 50-day moving average price of $51.20 and a 200-day moving average price of $49.07. The firm has a market cap of $2.18 billion, a PE ratio of 16.42, 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 quarterly earnings data on Tuesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The firm had revenue of $304.40 million for the quarter, compared to analyst estimates of $295.56 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. Sell-side analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

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.