Swedbank AB Acquires Shares of 300,032 Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD)

Swedbank AB bought a new position in shares of Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 300,032 shares of the company’s stock, valued at approximately $15,164,000.

Several other institutional investors and hedge funds have also made changes to their positions in SKWD. Jennison Associates LLC lifted its holdings in Skyward Specialty Insurance Group by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 1,296,001 shares of the company’s stock worth $52,786,000 after buying an additional 12,484 shares in the last quarter. Franklin Resources Inc. boosted 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 purchasing an additional 158,679 shares during the last quarter. Emerald Advisers LLC grew its stake in Skyward Specialty Insurance Group by 3.4% during the 3rd quarter. Emerald Advisers LLC now owns 874,581 shares of the company’s stock valued at $35,622,000 after purchasing an additional 28,618 shares in the last quarter. State Street Corp increased its holdings in Skyward Specialty Insurance Group by 10.8% during the 3rd quarter. State Street Corp now owns 844,233 shares of the company’s stock worth $34,386,000 after purchasing an additional 82,328 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Skyward Specialty Insurance Group by 12.9% in the 3rd quarter. Victory Capital Management Inc. now owns 743,073 shares of the company’s stock valued at $30,265,000 after purchasing an additional 84,623 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Barclays lifted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Jefferies Financial Group upped their target price on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. TD Cowen started coverage on Skyward Specialty Insurance Group in a research note on Monday, January 13th. They issued a “hold” rating and a $43.00 price target for the company. Raymond James upped their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 5th. Finally, JMP Securities lifted their target price on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Four 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 stock. Based on data from MarketBeat.com, Skyward Specialty Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.22.

Skyward Specialty Insurance Group Price Performance

Shares of SKWD opened at $44.28 on Friday. The company has a market cap of $1.78 billion, a P/E ratio of 13.50, a PEG ratio of 0.72 and a beta of 0.89. Skyward Specialty Insurance Group, Inc. has a 12 month low of $29.40 and a 12 month high of $55.62. The stock has a fifty day moving average price of $48.64 and a 200 day moving average price of $44.43.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The business had revenue of $300.89 million for the quarter, compared to analysts’ expectations of $292.43 million. Skyward Specialty Insurance Group had a net margin of 12.24% and a return on equity of 16.39%. During the same quarter last year, the company earned $0.65 EPS. As a group, research analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.07 earnings per share for the current year.

Insiders Place Their Bets

In other Skyward Specialty Insurance Group news, insider Thomas N. Schmitt sold 546 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $46.85, for a total transaction of $25,580.10. Following the completion of the transaction, the insider now owns 10,246 shares in the company, valued at approximately $480,025.10. The trade was a 5.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Charles Hays sold 25,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.00, for a total value of $1,350,000.00. Following the transaction, the director now directly owns 747,261 shares in the company, valued at $40,352,094. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,318 shares of company stock worth $2,098,866. 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.