Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its stake in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD - Free Report) by 52.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,507 shares of the company's stock after purchasing an additional 9,461 shares during the period. Wells Fargo & Company MN owned approximately 0.07% of Skyward Specialty Insurance Group worth $1,390,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SKWD. ORG Wealth Partners LLC purchased a new position in Skyward Specialty Insurance Group in the 4th quarter valued at approximately $61,000. Pinnacle Financial Partners Inc purchased a new position in shares of Skyward Specialty Insurance Group in the fourth quarter valued at $220,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Skyward Specialty Insurance Group in the 4th quarter worth about $230,000. Kirr Marbach & Co. LLC IN acquired a new stake in Skyward Specialty Insurance Group in the 4th quarter valued at about $252,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Skyward Specialty Insurance Group during the 4th quarter valued at about $379,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. TD Cowen began coverage on shares of Skyward Specialty Insurance Group in a research note on Monday, January 13th. They set a "hold" rating and a $43.00 price objective for the company. Keefe, Bruyette & Woods reduced their price objective on Skyward Specialty Insurance Group from $62.00 to $57.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler cut their target price on shares of Skyward Specialty Insurance Group from $58.00 to $57.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Truist Financial lifted their price target on shares of Skyward Specialty Insurance Group from $54.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Finally, Jefferies Financial Group downgraded shares of Skyward Specialty Insurance Group from a "buy" rating to a "hold" rating and reduced their price objective for the company from $62.00 to $59.00 in a research note on Friday, April 11th. 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 stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group has a consensus rating of "Moderate Buy" and a consensus target price of $57.00.

Skyward Specialty Insurance Group Stock Performance

Shares of SKWD stock traded down $0.45 during trading hours on Wednesday, reaching $53.09. The company had a trading volume of 338,489 shares, compared to its average volume of 381,561. The stock's fifty day simple moving average is $51.68 and its 200 day simple moving average is $49.46. The company has a market capitalization of $2.14 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 0.81 and a beta of 0.63. Skyward Specialty Insurance Group, Inc. has a twelve month low of $33.42 and a twelve month high of $56.98.

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. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. The company had revenue of $304.40 million during the quarter, compared to analysts' expectations of $295.56 million. As a group, equities analysts expect that Skyward Specialty Insurance Group, Inc. will post 3.05 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Thomas N. Schmitt sold 6,300 shares of Skyward Specialty Insurance Group 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 owns 3,946 shares of the company's stock, valued at approximately $204,876.32. The trade was a 61.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John A. Burkhart III sold 4,832 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $50.24, for a total value of $242,759.68. Following the completion of the sale, the insider now owns 17,655 shares in the company, valued at approximately $886,987.20. This represents a 21.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,132 shares of company stock worth $620,476. Corporate insiders own 8.01% of the company's stock.

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.