Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Shares Sold by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP trimmed its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,169 shares of the company’s stock after selling 284 shares during the period. Wakefield Asset Management LLLP owned about 0.06% of Skyward Specialty Insurance Group worth $911,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SKWD. Capital International Investors purchased a new position in shares of Skyward Specialty Insurance Group in the fourth quarter valued at approximately $50,632,000. Victory Capital Management Inc. acquired a new position in Skyward Specialty Insurance Group in the 4th quarter valued at $18,982,000. Norges Bank purchased a new position in Skyward Specialty Insurance Group in the 4th quarter valued at $10,371,000. Vanguard Group Inc. lifted its holdings in Skyward Specialty Insurance Group by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 2,043,773 shares of the company’s stock valued at $76,458,000 after purchasing an additional 207,744 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Skyward Specialty Insurance Group by 19.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 464,667 shares of the company’s stock worth $17,383,000 after buying an additional 75,137 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Skyward Specialty Insurance Group

In related news, Director Katharine Terry sold 1,653 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $36.87, for a total transaction of $60,946.11. Following the completion of the transaction, the director now directly owns 4,001 shares in the company, valued at approximately $147,516.87. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.01% of the company’s stock.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $40.82 on Friday. Skyward Specialty Insurance Group, Inc. has a fifty-two week low of $22.97 and a fifty-two week high of $41.98. The stock has a market capitalization of $1.63 billion, a P/E ratio of 15.01, a PEG ratio of 0.77 and a beta of 0.60. The company has a 50 day moving average price of $38.22 and a 200 day moving average price of $36.89.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last announced its earnings results on Monday, August 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.15. Skyward Specialty Insurance Group had a net margin of 11.52% and a return on equity of 17.36%. The business had revenue of $279.94 million during the quarter, compared to analysts’ expectations of $282.70 million. During the same period in the prior year, the company earned $0.42 earnings per share. Research analysts forecast that Skyward Specialty Insurance Group, Inc. will post 2.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SKWD has been the subject of several research reports. JMP Securities upped their price objective on shares of Skyward Specialty Insurance Group from $47.00 to $50.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 6th. Barclays began coverage on Skyward Specialty Insurance Group in a research report on Wednesday. They issued an “equal weight” rating and a $44.00 price target for the company. Keefe, Bruyette & Woods lifted their price objective on Skyward Specialty Insurance Group from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. William Blair began coverage on Skyward Specialty Insurance Group in a report on Monday, August 19th. They issued an “outperform” rating for the company. Finally, Piper Sandler lifted their price target on Skyward Specialty Insurance Group from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Three 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.78.

Skyward Specialty Insurance Group Company 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.